Hindustan Zinc Secures Rare Earth Block in UP—Letter of Intent Confirms Preferred Bidder Status

Hindustan Zinc Ltd (HZL) has received a Letter of Intent (LoI) from the Uttar Pradesh government, officially recognizing it as the preferred bidder for a Rare Earth Elements (REE) block in Sonbhadra district. This follows HZL’s successful bid under the fifth tranche of India’s critical mineral e-auctions, where it also secured a potash block in Rajasthan.

 

The REE block spans 210.01 hectares and is currently at the G3 exploration stage. These elements are vital for clean energy technologies, electronics, and defense applications, aligning with India’s push for mineral self-reliance. The LoI marks a key milestone in HZL’s strategy to diversify beyond zinc and silver into strategic minerals.

 

HZL, a Vedanta Group company, now holds three critical mineral blocks, including a tungsten block in Andhra Pradesh. The company plans to leverage its in-house mining expertise to unlock long-term value from these assets.

 

Key Highlights:

Source: GoodReturns – Hindustan Zinc Declared Preferred Bidder for Mineral Blocks