Hindustan Zinc on August 18 announced that its board has approved the plan to set up a 10 MPTA plant to recover metal from the tailing dumps. The reprocessing unit is set to be built at a capital expenditure of Rs 3,823 crore.
In an exchange filing, the Vedanta Group company said that this one-of-a-kind Tailings Reprocessing plant will be the first in India, and will enable reduction of environmental footprint associated with traditional wet tailings disposal, enhance the firm’s overall mineral recovery and help in improving sustainability.
The new plant, with a processing capacity of 10 million tons per annum, will recover metal from tailing dumps - a phrase used to refer to the piles of waste left behind after the metal is extracted from ores.
Hindustan Zinc said that the 10 MTPA Tailings Reprocessing plant is part of its overall 2X growth plan, that is to double its capacity. It added that its board approved the plan during its board meeting held on August 18.
The announcement was made in the post market hours of August 18. The shares of the company closed in the red with marginal losses at Rs 426 apiece. The stock has gained more than 1 percent in the past five days, but fell over 2 percent in the past one month.
Also read: Hindustan Zinc Joins International Council on Mining and Metals
(With inputs from Reuters)
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