Hindustan Zinc declared Preferred Bidder for Gold Mine Block, Expands Precious Metals Portfolio

Chennai: Hindustan Zinc Limited (BSE: 500188 & NSE: HINDZINC), the world’s second-largest integrated zinc producer and the third-largest silver producer, has secured a composite license for a gold mining block in Rajasthan through the state government auctions held on November 13, 2024. The company has been declared the “Preferred Bidder” for the Dugocha Gold Block, as confirmed by the Department of Mines & Geology, Rajasthan vide notification dated November 15, 2024. 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.

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. This acquisition not only enhances our precious metals portfolio but also reinforces our ability to deliver long-term value to our shareholders and stakeholders. This will generate unprecedented direct and indirect employment opportunities along with new investments in many industries in the state.”

This 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, with an estimated 1.74 Mt of resources with 1.63g/t gold. Leveraging its in-house expertise in exploration and mining, Hindustan Zinc is well-resourced to unlock substantial growth opportunities from this asset.

Earlier this month, Hindustan Zinc was also declared the preferred bidder for two tungsten and associated metal blocks in Andhra Pradesh and Tamil Nadu. These strategic wins further strengthen the company’s position in the critical and precious metals sector, aligning with its vision of producing metals that power the global energy transition.

Hindustan Zinc, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category by the S&P Global Corporate Sustainability Assessment 2023, reflecting its operational excellence, innovation, and leading ESG practices. The company also launched EcoZen, Asia’s first low carbon ‘green’ zinc brand. Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced, about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. As a world leader in the metals and mining industry, Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition towards a sustainable future.