Hindustan Zinc Limited has been issued a Letter of Intent (LOI) by the Government of Karnataka for a mining lease. This LOI pertains to the Gundlupet REE and Yttrium Block, covering an area of 314.21 hectares. The grant is pursuant to the Mineral Auction Rules 2015, positioning Hindustan Zinc as the preferred bidder for this significant resource.
Preferred Bidder for Gundlupet Mining Lease
Hindustan Zinc Limited has received a Letter of Intent (LOI) from the Government of Karnataka, signifying a crucial step in securing a new mining lease. The LOI, issued in accordance with the Mineral Auction Rules 2015, names Hindustan Zinc as the preferred bidder for the grant of mining rights.
Details of the Mining Block
The mining lease is for the Gundlupet REE and Yttrium Block, an area encompassing approximately 314.21 hectares. This block is situated in Mallayanapur village, Gundlupet Taluka, Chamrajnagar District, Karnataka. The securing of this lease is expected to contribute to Hindustan Zinc’s future resource expansion and operational capabilities.
Source: BSE
