BinaniZinc to acquire 3 zinc mines, set up Rs200cr benefication unit

Kolkata, May 04 (UNI) Binani Zinc, a part of Binani Industries Limited, will acquire three zinc mines in Rajasthan and Gujrat and set up a benefication plant in Rajasthan with an investment of Rs 200 crore.

Speaking on the sidelines of a press conference here today, Binani Industries Executive Director D Sundarajan said,'' We have applied for three mining leases with a total reserve of 1.3 mt. Two of the mines are in Rajasthan and one in Gujrat. We are at the final stage of receiving the approval for the leases and expect to get it cleared by three-four months. We will sign agreements with the two governements soon.'' ''We have floated a company, called RBG (Rajasthan Binani Gujrat), a joint venture of Rajasthan and Gujrat with Binani Industries, to acquire the zinc mines. We have 55 per cent stake in this company.

We will set up the benefication plant in Rajasthan and it will be near the mines,'' he said.

Company Managing Director Sushil Bhatter said Rs 200 crore would be invested in this plant. The zinc from this mines would be sourced for the the Kochi factory which has a total production capacity of 38,000 mt.

UNI