Aditya Birla gets nod for Nifty
UPDATE 2.45pm: Shares in Aditya Birla surged after the company announced the Department of Mines and Petroleum (DMP) had lifted a prohibition notice that prevented it from operating its Nifty copper mine in the Pilbara following a cave-in.
However the DMP has requested monthly updates on the company's progress on returning the mine to production.
"The company is proceeding to complete the detailed stoping, development and production schedule for the mine to ensure an expedient recommencement of operations, whilst always ensuring the safety of its employees," Aditya Birla said in a statement.
"The company shall in due course provide a timing schedule for the gradual resumption of operations."
Aditya Birla suspended operations at Nifty on March 21 after reporting a sinkhole at the mine.
About 400 mine workers have been on indefinite leave without pay since the incident.
Last week, 109 workers accepted voluntary redundancy.
Aditya Birla shares closed up 3.5 cents, or 17.07 per cent, at 24 cents after touching an intraday peak of 28 cents.
