PC Jeweller Subsidiary Secures Gold Mining License in Chad
PC Jeweller Limited has announced that its step down subsidiary, PCJ Mining SARL, has been granted a mining license in the Republic of Chad. The approval was received from the Ministry of Petroleum, Mining and Oil Geology, positioning the group for activities related to precious metal ores.The license allows PCJ Mining SARL to conduct semi-mechanized artisanal mining of gold in the country. This new venture is set for a period of one year and is subject to renewal in accordance with applicable laws.
PC Jeweller had previously informed the market about the incorporation of the subsidiary, PCJ Mining SARL, in the Republic of Chad. The operations of PCJ Mining SARL cover several aspects, including mineral exploration and quarrying, general import export trade, provision of related services, and the production, refining, and marketing of mineral products.
The acquisition of the mining license offers the Group an opportunity to explore mining activities, which may also create potential vertical integration prospects for the company.
PCJEWELLER Stock Price Movement
PC Jeweller Limited shares slipped 0.11% today, settling at ₹9.47 in after-hours trading. The stock traded on high volume of 19.65 million shares, remaining within a day range of ₹9.45 to ₹9.56.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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