H. L. Nathurmal, a trading firm, was established by Late Shri Nathurmal in 1919 with multifarious trading activity in various commodities. In the year 1958 his son Late Shri Lekhraj Nathurmal acquired mines at Arvalem village in the Sanquelim (Bicholim) Taluka.

The mines have rich deposits of both Iron Ore Manganese Ore.

Over the years H. L. Nathurmal has acquired new mines. Now, in addition to 85.85 Ha of mining area at Arvalem, we have 40 Ha at Vantem and 2.33 Ha at Khanapur. The Arvalem mines have deposits of Iron Ore and Manganese Ore, while the mines at Vantem and Khanapur have Iron Ore and Manganese Ore respectively.