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Hindustan Zinc To Participate In Lithium Auctions
The lithium reserves are the first to be identified in the Salal-Haimna areas of the Reasi district in Jammu and Kashmir (J&K) which are about 5.9 million tonne
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Hindustan Zinc (HZL) is reportedly in talks to participate in the country’s first lithium auctions which are likely to be held in December this year, according to a media report on Sunday.
The zinc-producing company’s lithium interest was underlined by the HZL CEO Arun Mishra, the report said.
The lithium reserves are the first to be identified in the Salal-Haimna areas of the Reasi district in Jammu and Kashmir (J&K), which are about 5.9 million tonne. The report said that the J&K administration is already in the process to carry out the auction and is currently looking forward to appointing a transaction advisor for the same.
Hindustan Zinc being in a metal base sector is open to participating in the lithium reserve auction as the company is planning to explore the zinc opportunity that is likely to drive the future in the new world, said Mishra as per reports.
Established in 1966 as a Public Sector Undertaking (PSU), HZL was sold to Vedanta in 2003, is one of the largest mining companies with total zinc and lead production capacity of 10 lakh tonne.