Hindustan Zinc, Jindal Power vie for Rajasthan Gold Mines

17 May 2024 CW Team

Several prominent Indian firms including Hindustan Zinc, Jindal Power, and JK Cement are competing for the rights to operate two gold mines in Rajasthan. This competitive bidding process, overseen by the Rajasthan government, highlights growing interest in India's mining sector despite regulatory and operational challenges.

The auction, facilitated under the Mines and Minerals (Development and Regulation) Act, aims to allocate mining rights for the Bhukia and Khetri mines in Rajasthan. These mines are estimated to hold significant reserves of gold, attracting bids from major players in the metals and mining industry.

Hindustan Zinc, a subsidiary of Vedanta Resources, is known for its expertise in base metal mining and has expressed interest in expanding its portfolio to include precious metals. Jindal Power, part of the O.P. Jindal Group, aims to diversify its energy-focused business into mining, leveraging its operational capabilities and financial strength.

JK Cement, a leading player in the cement industry, seeks to secure access to raw materials through vertical integration strategies. The company's participation underscores its strategic intent to strengthen its supply chain and reduce dependency on external sources.

The outcome of the bidding process is anticipated to enhance Rajasthan's mining sector, boost local employment opportunities, and stimulate economic growth in the region. Successful bidders will be expected to adhere to stringent environmental and social responsibility standards while contributing to the state's revenue generation through royalties and taxes.

As the auction progresses, stakeholders await the final decision, which will shape the future landscape of gold mining in Rajasthan and contribute to India's mineral resource development goals.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..