Hindustan Zinc announced that it has emerged as the preferred bidder for a gold mine block in Rajasthan that will help it expand its precious metal portfolio.

The world's second-largest integrated zinc producer secured a composite licence for the block through the state government auctions held on November 13.

It has been declared the preferred bidder for the Dugocha Gold Block, as confirmed by the Department of Mines & Geology, Rajasthan.

The block spans 472 hectares and is at the G3 level of exploration, with an estimated 1.74 MT of resources with 1.63g/t gold.

“Securing the Dugocha Gold Block is a testament to our prowess in strategic mineral exploration to tap diverse mineral resources to support the nation's rapid economic growth and emerging needs,” said Arun Misra, CEO of Hindustan Zinc Limited.