HCL Aims for Critical Mineral & Rare Earth Acquisition via Mine Auctions.

Hindustan Copper Ltd (HCL), India's sole copper miner, is gearing up to participate in the highly anticipated mine auctions for critical minerals and rare earth elements (REE) blocks, set to commence within the next two to three months. This strategic move is part of the state-owned company's broader diversification plans.

HCL intends to bid for these crucial blocks in collaboration with other prominent Public Sector Undertakings (PSUs), including Indian Oil Corporation, GAIL (India), and RITES. Beyond domestic opportunities, the copper miner is also actively exploring overseas acquisition opportunities for critical minerals and REEs, again in association with these major public sector entities.

"We are going to participate in the auctions of mines that will be launched by the Ministry of Mines and State governments. We are working on that. We have already done a lot of due diligence of the blocks," Hindustan Copper Ltd Chairman & Managing Director, Sanjiv Kumar Singh, told businessline.

This proactive approach by Hindustan Copper underscores India's increasing focus on securing a stable supply of critical minerals and rare earth elements, essential for various high-tech industries and the nation's energy transition goals.