South West Pinnacle Secures INR 307 Crore Exploration Contract
Filing Summary
South West Pinnacle Exploration Ltd has signed a long-term exploration services contract valued at approximately INR 307 Crore with Hind Metal Exploration Services Pvt Ltd, a subsidiary of Hindustan Zinc Ltd. The contract, the largest single order for the company, involves exploration services in Rajasthan over four years. Mobilization of resources is expected within 45 days, with revenue generation anticipated in the first quarter of FY 2026-27. The agreement requires South West Pinnacle to adhere to safety and environmental standards, while Hind Metal will handle necessary clearances.
South West Pinnacle Exploration Ltd (SWPE) has entered into a significant exploration services contract with Hind Metal Exploration Services Pvt Ltd, a wholly owned subsidiary of Hindustan Zinc Ltd. The contract is valued at approximately INR 307 Crore, inclusive of GST, and represents the largest single order secured by SWPE for exploration services in Rajasthan.
The contract spans a period of four years, commencing after the mobilization of rigs and other resources, which is expected to be completed within 45 days. SWPE anticipates that the contract will begin generating additional revenue in the first quarter of the financial year 2026-27. The scope of work includes the mobilization of machines, manpower, and other resources, with the construction of approach roads being the responsibility of SWPE.
Under the terms of the contract, SWPE is required to conduct operations in accordance with mining engineering standards, ensuring compliance with safety, labor, environmental, and other applicable laws. Hind Metal Exploration Services Pvt Ltd will be responsible for arranging all necessary environmental and other clearances.
Hind Metal Exploration Services Pvt Ltd, as a subsidiary of Hindustan Zinc Ltd, focuses on providing exploration services. The company is involved in various mining-related activities, leveraging its expertise in the field to support its parent company’s operations.
South West Pinnacle Exploration Ltd specializes in providing exploration services, including drilling and geological services. The company focuses on expanding its service offerings and securing significant contracts to enhance its market presence in the exploration sector.