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Hindustan Zinc to invest Rs 2,016 crore in Rajasthan mines

29 Jun 2012 Evaluate

Vedanta group firm, Hindustan Zinc has decided to spend about Rs 2,016 crore to improve mining operations at its Rampura Agucha and Sindesar Khurd (SK) zinc mines in Rajasthan. The money required for the project will be funded through internal accruals. It has awarded the contracts to South Africa-based Shaft Sinkers and two Chinese companies NFC (China Nonferrous Metal Industry’s Foreign Engineering & Construction) and CCN5C (China Coal 5 Construction Company).

The projects are planned to be completed in 2017. Mining at Rampura Agucha is being done from the open pit, which can be in operation till 372 metros below the surface.

The company’s net profit for the quarter dipped by 20.35% at Rs 1412.84 crore as compared to Rs 1771.27 crore for the quarter ended March 31, 2011. Its total Income decreased marginally by 0.84% to Rs 3516.06 crore for the quarter ended March 31, 2012 from Rs 3545.89 crore for the quarter ended March 31, 2011.

Hindustan Zinc Share Price

589.95 -2.40 (-0.41%)
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Peers
Company Name CMP
Hindalco 1015.10
Vedanta 770.65
Hindustan Zinc 589.95
Jain Resource Recycl 418.95
Gravita India 1649.35
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