Hindustan Zinc, Jindal Power, JK Cement Compete for Rajasthan Gold Mines


Hindustan Zinc, Jindal Power, JK Cement Compete for Rajasthan Gold Mines
Several prominent companies, including Hindustan Zinc, Jindal Power, and JK Cement, have emerged as technically qualified bidders for two gold mines up for sale in Rajasthan. The Bhukia-Jagpura gold block has attracted bids from Ramgad Minerals and Mining Ltd, Hirakund Natural Resources Ltd, Jindal Power, Hindustan Zinc, and Saiyyed Owais Ali. Meanwhile, for the Kankriya Gara gold block, Hirakund Natural Resources, Poddar Diamond, Owais Metal and Minerals Processing, Hindustan Zinc, and JK Cement are among the qualified bidders, as per the Department of Mines and Geology (DMG) of the Rajasthan government's website.
The auction process, which commenced in March of this year, is set to culminate this week for both gold blocks. Meanwhile, in Andhra Pradesh, Deccan Gold Mines Managing Director Hanuma Prasad has announced that the full-scale production of the country's first large private gold mine will commence by the end of 2024. The Jonnagiri gold project, currently undergoing pilot scale operations, anticipates an annual production of approximately 750 kilograms of gold once it reaches full-scale production. Presently, the mine, with an investment of Rs 200 crore, yields around one kilogram of gold per month.
The developments in the gold mining sector signify significant strides towards expanding India's domestic gold production capabilities, which align with the nation's goals of reducing reliance on imported gold and bolstering its mining sector.