Hindustan Zinc Secures Gold Block to Boost Metal Portfolio

Hindustan Zinc has been selected as the preferred bidder for a gold mine block in Rajasthan. This acquisition is seen as a strategic move to enhance its precious metals portfolio and to support economic growth. The company aims to create employment and investment opportunities in Rajasthan.

On Friday, Hindustan Zinc announced its status as the preferred bidder for a coveted gold mine block in Rajasthan, marking a significant addition to its precious metals portfolio.

The company's acquisition comes via a composite license secured during the state government auctions held on November 13. The Department of Mines & Geology, Rajasthan, confirmed Hindustan Zinc's successful bid for the Dugocha Gold Block through a notification issued on November 15, 2024.

Arun Misra, CEO of Hindustan Zinc Ltd, emphasized that winning this block underscores the company's expertise in strategic mineral exploration aimed at tapping diverse resources to fuel the nation's economic growth. The acquisition, situated in Salumbar, Rajasthan, spans 472 hectares with an estimated 1.74 million tons of resources containing gold, and promises to deliver substantial employment and investment benefits.

(With inputs from agencies.)