Hindustan Copper Ltd Expands Horizons with Strategic Diversification into Critical Minerals

Hindustan Copper Ltd is diversifying into critical minerals and rare earth elements by collaborating with other public sector units like Indian Oil Corporation Ltd and GAIL. The company aims to participate in auctions for blocks of these minerals, enhancing its mining portfolio and revenue through strategic partnerships.

Hindustan Copper Ltd, a Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Mines, is expanding its scope by targeting critical minerals and rare earth elements. As part of this diversification strategy, it plans to join hands with other Public Sector Units (PSUs) including Indian Oil Corporation Ltd (IOCL), GAIL (India), and RITES.

The copper company's plan includes entering non-binding agreements with IOCL and GAIL to engage in auctions for these valuable resources. According to Sanjiv Kumar Singh, Chairman and Managing Director of HCL, the firm seeks to participate in upcoming auctions not only for copper but also for critical mineral and rare earth element blocks, demonstrating its evolving strategic focus.

HCL is also collaborating with Coal India Ltd to explore opportunities in Chile. The recent partnership with engineering firm RITES Ltd will jointly develop supply chains for metals and minerals globally. Notably, HCL's profit before tax surged by 54% while overall revenue grew by 21% in the fiscal year 2024-25.

(With inputs from agencies.)