Hindustan Zinc Ltd. wins lease for Gundlupet rare earth block
Hindustan Zinc Ltd. (HZL), part of the Vedanta Group, just scored a mining lease for a rare earth block in Chamrajnagar District, Karnataka.
The site, called the Gundlupet REE and Yttrium Block, stretches across 314.21 hectares.
HZL got the green light under India's Mineral Auction Rules, and rare earth elements are used in electric vehicles and wind turbines.
Hindustan Zinc diversifies into critical minerals
HZL isn't just sticking to zinc: it's branching out into other critical minerals like copper, lithium, nickel, cobalt, and potash.
Chairperson Priya Agarwal Hebbar says the goal is to stay ahead by exploring what powers tomorrow's tech.
The company last year bagged a potash block in Rajasthan and also received a letter of intent from the Government of Uttar Pradesh for a Rare Earth Elements block, strengthening its position as a major player both in India and globally.