Hindustan Zinc Limited (HZL), the world’s second-largest integrated zinc producer and third-largest silver producer, bagged the Dugocha gold block in Rajasthan through state government auctions held on November 13, 2024.
Preferred Bidder
The department of mines and geology, Rajasthan, declared Hindustan Zinc as the “Preferred Bidder” for the Dugocha gold block through a notification on November 15, 2024.
The acquisition is a significant step forward in the company’s strategic journey, solidifying its position as a leading player in the precious metals sector.
CEO Talk
Arun Misra, CEO Hindustan Zinc Limited said, “Bagging the Dugocha gold block is a testament to our expertise in mineral exploration and our commitment to supporting India’s rapid economic growth. This acquisition not only diversifies our precious metals portfolio but also strengthens our ability to deliver long-term value to shareholders and stakeholders. Additionally, it will create significant direct and indirect employment opportunities while spurring investments in Rajasthan”.
Key Features
The Dugocha gold block spans 472 hectares and is currently at the G3 level of exploration. Preliminary estimates reveal 1.74 million tonnes of resources with a gold grade of 1.63g/t.
With its in-house expertise in mining and exploration, Hindustan Zinc is well-positioned to maximize the potential of this asset and drive substantial growth.
Strengthening Precious Metals Portfolio
The win aligns with Hindustan Zinc’s long-term strategy to secure high-quality assets with robust mining potential.
In November 2024, the company was declared the preferred bidder for two tungsten blocks. These blocks, along with associated metals, are located in Andhra Pradesh and Tamil Nadu.
The acquisitions significantly bolster its position in the critical and precious metals sector.
Sustainability and Innovation
Hindustan Zinc, a Vedanta Group company, continues to set benchmarks in the metals and mining industry.
Hindustan Zinc is recognized as one of the world’s most sustainable companies in metals and mining. This recognition comes from S&P Global’s Corporate Sustainability Assessment 2023. It prioritize operational excellence and environmental stewardship.
The company’s flagship initiative, EcoZen, Asia’s first low-carbon ‘green’ zinc brand, underscores its commitment to sustainability.
Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne per tonne of zinc, nearly 75% lower than the global average.
Hindustan Zinc is also a certified 2.41 times water-positive company. It aims to achieve net zero emissions by 2050 or sooner.
Driving Energy Transition
Hindustan Zinc’s strategic acquisitions and innovations are pivotal to the global energy transition.
As per the press release, by expanding its presence in critical metals. The company ensures its continued contribution to India’s sustainable development and global energy needs.
