HZL wins gold block, marks Vedanta group's entry into yellow metal business

Says it has been declared the "preferred bidder" for the Dugocha Gold Block, as confirmed by the Department of Mines and Geology, Rajasthan, via a notification dated November 15

Hindustan Zinc on Friday said it has secured a composite license for a gold mining block in Rajasthan through the state government auctions.

 

The company said it has been declared the “preferred bidder” for the Dugocha Gold Block, something that has been confirmed by the Department of Mines & Geology, Rajasthan vide notification dated November 15. 

 

“This strategic win marks a significant milestone in Hindustan Zinc’s growth journey, solidifying its position as a leading player in the precious metals sector,” the release added.

 

Arun Misra, CEO of Hindustan Zinc Limited, stated, “Securing the Dugocha Gold Block is a testament to our prowess in strategic mineral exploration with a view to tap diverse mineral resources to support the nation’s rapid economic growth and emerging needs.”

 

The company said the win is aligned with Hindustan Zinc’s long-term strategy of securing high-quality assets with strong mining potential.

 

Located in Salumber, Rajasthan, the block spans 472 hectares and is currently at the G3 level of exploration.

 

The block has mineable material resources of an estimated 1.74 Million Tonne, of which the company said  1.63 gram of gold is expected to be found in every tonne. 

 

Earlier this month, Hindustan Zinc was also declared the preferred bidder for two tungsten and associated metal blocks in Andhra Pradesh and Tamil Nadu.