Binani Zinc, India's second-largest zinc producer, is planning to acquire mines in Iran and Australia to feed its smelter in the southern Indian state of Kerala, according to a senior executive.
"We need a dedicated source of zinc concentrate as right now we are dependent on imports for our raw material. Once we have our mines in place, we can be immune to sharp fluctuations in prices," said the unidentified executive.
The company is looking to invest around INR2 billion to acquire the mines.
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