HZL Selected as Preferred Bidder for Dugocha Gold Block in Rajasthan to Expand Precious Metals Portfolio

Hindustan Zinc has been named the preferred bidder for a gold mine block in Rajasthan, aiming to broaden its precious metals portfolio. The company secured a composite licence for the Dugocha Gold Block through state government auctions on November 13. The Department of Mines & Geology, Rajasthan, confirmed this status via a notification dated November 15, 2024.

Representative image

Hindustan Zinc's Strategic Expansion

Arun Misra, CEO of Hindustan Zinc Ltd, 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." This acquisition not only strengthens their precious metals portfolio but also enhances their capacity to provide long-term value to shareholders and stakeholders.

The Dugocha Gold Block is situated in Salumbar, Rajasthan, covering an area of 472 hectares. It is at the G3 level of exploration and holds an estimated 1.74 million tonnes of resources with a gold grade of 1.63 grams per tonne. This development promises significant direct and indirect employment opportunities and new investments across various industries in the state.

Recent Achievements and Future Prospects

Earlier this month, Hindustan Zinc was also declared the preferred bidder for two tungsten and associated metal blocks located in Andhra Pradesh and Tamil Nadu. This move aligns with the company's strategy to diversify its mineral resources and meet India's growing economic demands.

Hindustan Zinc is part of the Vedanta Group and stands as the world's second-largest integrated zinc producer. Additionally, it ranks as the third-largest silver producer globally. These achievements highlight its commitment to expanding its resource base and contributing to economic growth.