In a statement on Saturday, HZL said it has been formally declared the successful bidder for the block, following the grant of the two-stage concession that allows both exploration and, upon establishing viability, mining operations.
The licence follows a competitive auction conducted by the Centre earlier this year, in which HZL emerged as the preferred bidder.
Calling the development a significant milestone, HZL CEO Arun Misra said, “This milestone marks another step forward in Hindustan Zinc’s journey of expanding its mineral footprint and contributing to the nation’s self-reliance in critical and strategic minerals.”
Tungsten is considered a critical mineral for defence, aerospace, electronics and advanced manufacturing, and India currently depends heavily on imports.
HZL, the world’s largest integrated zinc producer and one of the top five silver producers globally, supplies to more than 40 countries and commands roughly 77 per cent share of India’s primary zinc market.
