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Mining stock jumps 6% after it signs MoU with China Railway

Leading mining company has partnered with China Railway to develop the Fako bauxite deposit in Guinea. The project aims to drive economic growth, create jobs, and support sustainable development in the region.
Mining stock rises 6% after signing MoU with China Railway for bauxite project development.
Mining stock rises 6% after signing MoU with China Railway for bauxite project development.

Introduction:

Leading mining company has partnered with China Railway in a long-term MOU to develop the Fako bauxite deposit in Guinea. The project aims to boost economic growth, create jobs, and promote sustainable development in the region.

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Share price movement of Ashapura Minechem:

On January 20, 2025, Ashapura Minechem Ltd opened at ₹551.00, up 6.02% from its previous close of ₹519.65. The stock reached a high of ₹571.00 (10.02%) and a low of ₹522.80. By 12:39 PM, it traded at ₹530.55, a 2.10% increase, with a market cap of ₹5,068.14 crore.

Ashapura Minechem Partners with China Railway:

Ashapura Minechem Ltd. has entered into a long-term Memorandum of Understanding (MOU) with China Railway, a global Fortune 500 company. This partnership focuses on developing the Fako bauxite deposit in Guinea’s Kindia region, aiming to drive economic growth.

Under the MOU, China Railway will manage bauxite production and provide logistic solutions. Ashapura Minechem will handle sales, marketing, and technical support, including quality assurance. The project is expected to create job opportunities and uplift the local communities in the Fako region.

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This collaboration highlights Ashapura Minechem’s commitment to sustainable development and economic upliftment in Guinea. The project will not only increase the company’s production capacity but also contribute to the region’s long-term prosperity.

Stock performance of Ashapura Minechem for Period of 1 week, 6 months and 1 year:

Ashapura Minechem Ltd. has shown impressive performance, with a 20.6% return over the past week, 40.0% over six months, and 19.0% over the past year, reflecting strong growth and investor confidence in the company’s future prospects.

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Shareholding pattern of Ashapura Minechem:

All values in %Dec 2024Sep 2024Aug 13, 2024
Promoter47.70%47.70%47.70%
FII16.00%16%15.60%
DII0.10%0.10%0.40%
Public36.10%36.40%36.30%
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About Ashapura Minechem:

Ashapura Minechem Ltd. (NSE: ASHAPURMIN) is a diversified company engaged in mining, manufacturing, and trading of various minerals and products. It offers multi-mineral solutions across industries, with operations in India and seven other countries.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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