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Hindustan Zinc Ltd (HZL) shares -- traded with the symbol HINDZINC on bourses BSE and NSE -- were in demand on Dalal Street in Tuesday's trade, a day after the zinc producer announced the establishment of the country's first zinc tailings reprocessing plant, at an investment of Rs 3,823 crore. The plan will be located in Rajasthan's Bhilwara district and will have a capacity of 10 million tonnes per annum.

HZL shares rose as much as 1.5 per cent to Rs 433.6 apiece on BSE. 

At 2 pm, the stock was left with a gain of 0.4 per cent at Rs 429 apiece.

 After the market hours on Monday, HZL -- part of the Vedanta Group -- said its board had approved the setting up of the first-of-its-kind plant at Rampura Agucha Agucha Mine, the world’s largest underground zinc mining operations. 

Tailings are the finely ground remnants left after the extraction of valuable minerals from mined ore. While tailings are considered waste, they have plenty of residual metals and minerals that are difficult to extract.

When ore is processed in a mill or plant, the desired minerals or metals are separated through mechanical and chemical processes. The leftover material created by this process, comprising mostly crushed rock and fine mineral particles, is called tailings.

This substance typically has a slurry-like consistency -- a mix of solids and water, ranging in particle size from sand to silt or clay.

Because not all valuable material is fully recovered during mining, tailings may still contain small amounts of metals or minerals, making them potentially valuable for future reprocessing.

This state-of-the-art plant will extract metals like zinc and silver from previously processed tailings, transforming what was once considered waste, into valuable resources, said HZL. 

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HZL said that the development comes as part of its plan to double its production capacity.

The new plant is targeted for completion within the next 28 months.

At the current level, HZL shares have declined 3.5 per cent on a year-to-date (YTD) basis, underperforming gains of 5.1 per cent and 9.2 per cent in the Nifty 50 and Nifty Metal indices, respectively.

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