Midwest Mining Operations Analyzed
Midwest Mining (ML) recently saw its stock price increase by 1.74% to reach Rs 1,830.80. This jump happened because the company secured a major deal with the government of Andhra Pradesh. They were granted permission to mine quartzite, a special type of stone used for polishing.
Key Points
- Quartzite mining lease awarded to Midwest by Andhra Pradesh.
- 21.012 hectares (51.92 acres) quarry area secured in Prakasam.
- 30-year lease, starting January 6, 2026, expiring January 5, 2056.
- 609,620 cubic meters of quartzite blocks expected to be extracted.
- Midwest produces black galaxy granite and expands revenue significantly.
- Q2 2025 net profit up 86.82%, sales increased 12.38%.
About the Mining Project
The agreement allows Midwest to actually dig up and take out colored quartzite. This stone is very popular for making things shiny and smooth, like countertops and tiles. The mining area is located in Hanumanthunipadu Village & Mandal, a specific region within Prakasam, Andhra Pradesh.
Lease Details
This mining operation has a long-term agreement – the lease lasts for 30 years, starting on January 6th, 2026, and ending on January 5th, 2056. Of course, this depends on getting all the necessary approvals from the government. The area they’ll be working with is quite large – 21.012 hectares (that’s about 51.92 acres).
Quantities and Products
Experts estimate that the quarry could hold around 609,620 cubic meters of colored quartzite blocks. Midwest is known for its black galaxy granite, a beautiful stone with golden sparkles. They produce and sell this granite to customers all over the world.
Financial Performance
Midwest’s financial results were also good. On a combined basis, their profits increased by 86.82% to Rs 27.78 crore. Their sales rose by 12.38% to Rs 158.69 crore, compared to the same time last year. This shows that the company is doing well.
Successfully securing this quarry lease signals Midwest’s strategic growth and commitment to expanding its stone resources.
