Indian Resources Ltd, an Australian mining company, has established its right of project mining lease on a zinc-lead deposit in Rajasthan over Hindustan Zinc and another contender.
The State Government has cancelled mining licence and prospecting licence applications from Hindustan Zinc and Terramine Developers to allow IRL.
The cancellations were necessary as the applications for concessions overlapped the proposed tenement area.
The Australian Stock Exchange-listed company in a disclosure last week said that the Rajasthan Government “administratively approved” project-mining lease in favour of IRL’s wholly owned subsidiary Crown Mining Pvt Ltd.
The Rajasthan Government’s approval came after IRL moved the Rajasthan High Court and lobbied with the Union Government’s Department of Industrial Policy and Promotion (DIPP) and the Project Monitoring Group.
About 1,500 hectares of deposit area is expected to be offered after a process of scrutiny by the Rajasthan Directorate of Mines and obtaining of landowner consent for the proposal. IRL, however, sought concession for 2,500 hectares.
It took IRL about six years to get this breakthrough for its first proposed zinc-lead project in the country.