Does anybody really think that IRL stands even the slightest chance of getting the Mining Licence for the Aravalli project when Vedanta has just announced plans to invest AUD$4.35 BILLION yes BILLION its not a typo error.
Vedanta plan to spend AUD$4.35 BILLION and of this Hindustan Zinc (HZL) has marked Rs 8,357 crore (AUD$1.77 BILLION) to spend on ZINC in Rajasthan, and IRL's Aravalli project is smack-bang in the middle. In fact IRL's Aravalli project completely surrounds the HZL Sindesar Khurd mine.
"With focus on Resurgent Rajasthan Summit to be held in Jaipur on November 19-20, 2015, Vedanta has signed MoUs to invest over Rs 20,000 crore for the expansion of zinc-lead mines and oil business in Rajasthan," the firm said in a statement."
"HZL will develop and expand new and existing zinc-lead ore mines"
"HZL is also looking to expand its all underground mines."
It does prove how much HZL values the Aravalli area that IRL robbed them of. Vedanta Lines Up over Rs 20,500 Crore for Rajasthan Business
IRL Directors are about to start earning their keep at long last, I'd like to know how they intend to show the Indian Gov't that they can fund a drilling campaign?
HZL is exerting enormous pressure on the Rajasthan Gov't, the aim is to get back the Aravalli Mining Licence that they once held.
Will HZL get Aravalli back, thats the question? Judging from IRL Directors past performance you'd have to say not a hope in hell.
Lets hope HZL is kind enough to throw us a few scraps.
The fight is on now well and truly. The rewards are huge, but theres only one first place.
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