Gujarat Tool Room Ltd acquires mines in Zambia

Gujarat Tool Room Limited (GTL) has successfully concluded the acquisition of 6 hectares of mines in Zambia, marking a significant stride in our pursuit of sustainable growth.

These newly acquired mines boast a rich reservoir of valuable resources, including copper, cobalt, gold, nickel, manganese, emeralds, beryllium, various gemstones, sulphur, zine, coal, iron ore, steel, limestone, uranium, and other platinum-group metals. The strategic location and resource abundance of these mines position GTL for substantial success in the mining sector.

GTL envisions each hectare of these mines, equipped with state-of-the-art Japanese technology, yielding an estimated annual revenue ranging from 15 to 20 million dollars. With a cumulative expanse of 6 hectares, the company confidently anticipates a minimum annual revenue of INR 700 crores upon the operational commencement of these mines in the upcoming quarter.

This strategic acquisition aligns seamlessly with our commitment to diversifying our business portfolio, exploring lucrative markets, and contributing significantly to the economic development of the regions in which we operate. The mining sector, renowned for its resilience and potential for high returns, presents a considerable opportunity for GTL.

As we look to the future, our vision extends beyond Zambia, with plans to extend our footprint in the mining sector to other South African countries. This expansion not only positions GTL as a prominent player in the industry but also aligns with our dedication to fostering economic growth and generating employment opportunities.

We believe this strategic move will not only enhance shareholder value but also solidify GTL's standing in the mining industry. We remain committed to upholding the highest standards of transparency and fostering open communication with our esteemed stakeholders.

Source : Equity Bulls

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GujaratToolRoom Acquisition Mines Zambia