Lloyds Metals and Energy Ltd has received environmental clearance from the Ministry of Environment, Forest, and Climate Change for its upcoming $1.2 billion projects at Ghugus, Chandrapur, Maharashtra. The approval covers a 1.2 million tonne per annum (MTPA) wire rod project and a 4 MTPA pellet plant project.

According to a stock exchange filing, the clearance was granted on March 20, 2025, marking a significant milestone for the company’s expansion plans.

Earlier this year, Lloyds Metals reported a 22% year-on-year (YoY) increase in direct reduced iron (DRI) production, reaching 238,000 tonnes over nine months. Iron ore production also grew by 5% YoY to 8.6 million tonnes, with December achieving the highest monthly DRI production, nearing full capacity.

Incorporated in 1977, Lloyds Metals is a prominent iron ore miner in Maharashtra and a leading DRI producer with an annual capacity of 340,000 tonnes. The company also operates a 34 MW waste heat recovery-based power plant, catering to markets across India.

Shares of Lloyds Metals and Energy Ltd closed at Rs 1,257, up by Rs 6.90, or 0.55%, on the BSE.