Hindustan Zinc Limited — Important, 15-11-2024: Updates

Hindustan Zinc Limited has been declared the Preferred Bidder for the Dugocha Gold & Associated Mineralization Block in Rajasthan, a significant step in the company's strategy to enhance its precious metals portfolio. The decision by the Department of Mines & Geology in Rajasthan came following the company’s successful participation in a forward e-auction, where it offered the highest final price of 8.15%. This block spans 472 hectares and currently holds an estimated 1.74 million tonnes of resources with gold content of 1.63g/t. Arun Misra, CEO, emphasized that this acquisition will not only bolster the company's mining capabilities but also create substantial employment opportunities and attract new investments in the state.

This addition complements Hindustan Zinc’s recent wins for tungsten blocks in Andhra Pradesh and Tamil Nadu, further consolidating its position in the critical and precious metals sector. The company is positioned to leverage its exploration and mining expertise, bolstering its long-term growth initiatives. Investors may view this development as a key opportunity for expansion in a sector linked to the global energy transition, supporting optimism in Hindustan Zinc's operational strategy.