Hindustan Zinc will spend 38.23 billion rupees ($437.5 million) to set up a reprocessing plant, the Indian miner said on Monday, as a part of its aim to ramp-up capacity under its overall expansion plans.
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.
The plant will boost the company’s overall mineral recovery, Hindustan Zinc added in its statement.
($1 = 87.3740 Indian rupees)
(Reporting by Manvi Pant and Hritam Mukherjee; Editing by Janane Venkatraman)
