HCL's New Horizon: Beyond Copper, Into Critical Minerals

Hindustan Copper Ltd. (HCL), India’s only integrated copper producer, is gearing up to participate in the upcoming auction of critical mineral and rare earth element (REE) blocks, expected to begin in the next two to three months. As part of its strategic diversification, HCL will collaborate with other public sector undertakings (PSUs) including Indian Oil Corporation, GAIL (India), and RITES.

“We plan to participate in the mine auctions being conducted by the Ministry of Mines and various State governments. We’ve already completed extensive due diligence on several blocks,” said Sanjiv Kumar Singh, Chairman and Managing Director, HCL.

In addition to domestic bids, HCL is actively exploring overseas acquisition opportunities for critical minerals and REEs in partnership with its PSU counterparts. While the exact number of blocks the company will target is yet to be finalised, HCL confirmed its interest in expanding beyond copper into other strategic minerals.

The government's Tranche V auction, launched in January, saw 10 out of 15 blocks successfully awarded. These included key minerals such as graphite, phosphate, REEs, vanadium, potash, and halite. To date, 34 critical mineral blocks have been auctioned under the Centre’s push for mineral self-reliance.

News by Rahul Yelligetti.