"Hindustan Zinc, JK Cement, and Others Qualify as Bidders for Two Gold Mines in Rajasthan"

Companies under the Vedanta group, Hindustan Zinc, along with Jindal Power and JK Cement, have emerged as technically qualified bidders for two gold mines recently put up for sale in Rajasthan.

For the Bhukia-Jagpura gold block, Ramgad Minerals and Mining Ltd., Hirakund Natural Resources Ltd., Jindal Power, Hindustan Zinc, and Saiyyed Owais Ali have qualified as technically qualified bidders. Similarly, for the Kankriya Gara gold block, Hirakund Natural Resources, Poddar Diamond, Owais Metal and Minerals Processing, Hindustan Zinc, and JK Cement have been listed as technically qualified bidders, as per information available on the website of the Department of Mines and Geology (DMG) of the Rajasthan government.

The auction process for both gold blocks commenced in March of this year and is scheduled to be conducted this week, according to the DMG website.

Meanwhile, the full-scale production of India's first large private gold mine in Andhra Pradesh is anticipated to commence by the end of 2024, as announced by Deccan Gold Mines Managing Director Hanuma Prasad. The Jonnagiri gold project, which has initiated pilot-scale operations, is expected to yield approximately 750 kilograms of gold annually once it reaches full-scale production. Presently, the mine, which has seen an investment of ₹200 crore so far, is producing around one kilogram of gold per month.

HBL