Maoist-troubled Gadchiroli in Maharashtra is not the easiest of places to do business. Chandrapur-headquartered Lloyd Metals and Energy, one of the few companies to venture into the region with an iron ore mine in 2021, has done so with a great degree of success.
Recently, Lloyd looked to share ownership of the company (where the mine accounts for most of the value) with its blue-collar workforce using stock options. Some of these workers are former Maoists who have laid down arms and are looking for steady income.
To be sure, the company has faced its fair share of resistance since starting operations, including kidnapping of executives and arson by Maoists. However, it has stayed the course, growing its revenues 24 times between FY21 and FY24 to ₹6,575 crore after it started mining the red dust in the region that eventually becomes steel.
Now, in a move unheard of in the metals and mining industry, Lloyd Metals and Energy made news on Thursday after it granted stock options to its 6,000-strong workforce, a bulk of whom are making modest wages doing manual work in its mines or on its factory floors. The story was first reported by The Times of India.
Diese Geschichte stammt aus der January 03, 2025-Ausgabe von Mint Bangalore.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January 03, 2025-Ausgabe von Mint Bangalore.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Tata Motors to Pour ₹2k Cr a Year on CVs
Tata Motors will continue to invest around ₹2,000 crore annually on the development of new commercial vehicles (CV) and capital equipment as the company works on a gamut of technologies to drive towards sustainable mobility, according to its executive director Girish Wagh.
Can the Budget Tackle Tax Appeal Delays and Ease Taxpayer Burden?
Government must address the growing backlog of tax appeals and impact of prolonged litigation on taxpayers
China both hopeful and on edge over Trump's return
When Donald Trump was last president, he heaped tariffs on more than $300 billion of Chinese imports
Trump Sworn In a Second Time, Vows 'Golden Age of America'
Trump's Advisers Have Outlined Plans to Replace Nonpartisan Bureaucrats With Hand-Picked Loyalists
Macrotech moves HC to stop Abhinandan Lodha's firm using name
The House of Abhinandan Lodha was established in 2021 when Macrotech Developers went public
Hindenburg denies SEC investigation
U.S.-based short-seller Hindenburg Research has said that it is not under investigation by the market regulator US Securities and Exchange Commission (SEC) as it rubbished alleged links of its founder to a hedge fund for preparing reports targeting companies.
PVR INOX Launches App Feature for Curated Movie Experience
Buoyed by strong consumer response to re-released films, cinema chain PVR INOX Ltd on Monday introduced a feature allowing movie lovers to create or join customized shows at their preferred cinemas.
LTIMindtree's global markets head quits
TIMindtree Ltd's president of global markets, Sudhir Chaturvedi, has quit the company, leaving chief operating officer Nachiket Deshpande as the frontrunner to succeed current chief executive Debashis Chatterjee, whose term ends later this year.
Govt mulls including MSMEs in PM internship scheme
MSMEs employ over 247 million people, accounting for over a third of Indian employees.
Smartworks to manage Zepto's HQ
Quick-commerce platform Zepto's new head office in Bengaluru will be managed by Smartworks Coworking Spaces Ltd, a flexible workspace operator, said two people familiar with the matter.
