Hindustan Zinc declared as 'preferred bidder' for gold mine block in Rajasthan

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

The company has been declared the "preferred bidder for the Dugocha Gold Block, as confirmed by the Department of Mines & Geology, Rajasthan.

"This is aligned with Hindustan Zincs long-term strategy of securing high-quality assets with strong mining potential, the company said in a statement.

Located in Salumber, Rajasthan, the block spans 472 hectares and is currently at the G3 level of exploration, with an estimated 1.74 metric ton of resources with 1.63 grams per tonne gold.

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

Hindustan Zinc, a Vedanta Group company, is an integrated producer of zinc, lead and silver.

The company had reported 34.58% jump in consolidated net profit to Rs 2,327 crore in Q2 FY25 as against Rs 1,729 crore posted in Q2 FY24. Total revenue from operations during the quarter was Rs 8,252 crore, up 22% YoY.

The scrip rose 0.60% to currently trade at Rs 497.45 on the BSE.

Powered by Capital Market - Live News