Archive · 24 Jun 2025
Hindustan Copper to Bid for Minerals With IOCL, GAIL, RITES
Hindustan Copper, a government-owned copper mining company, is expanding its business by bidding for land that contains important minerals like rare earth elements.
They will work with other government companies like Indian Oil and GAIL.
The company also aims to work with Coal India to explore for copper and other minerals in Chile.
Hindustan Copper is also focusing on copper concentrate production, with increased profit and revenue in recent years.
Hindustan Copper Ltd (HCL) plans to bid on critical minerals and rare earth element (REE) blocks.
HCL will partner with Indian Oil Corporation Ltd (IOCL), GAIL (India), and RITES for bidding.
The company will participate in auctions for copper and critical mineral blocks.
HCL is exploring a pact with Coal India Ltd for exploration in Chile.
HCL's revenue and profit saw significant increases in FY24-25.
- Who
- Hindustan Copper, IOCL, GAIL (India), RITES, and potentially Coal India Ltd.
- What
- Hindustan Copper will bid on blocks of critical minerals and REEs with other PSUs.
- When
- Auctions will be coming up soon.
- Where
- India, with potential exploration in Chile.
- Why
- To diversify business and secure critical mineral supplies.
- Company
- Hindustan Copper Ltd
- Focus
- Acquiring critical minerals and REEs
- Partners
- IOCL, GAIL, RITES, Coal India (potential)
- FY24-25 Revenue
- ₹2,070.97 crore
- FY25 Profit After Tax
- ₹468.53 crore
- Operations
- Copper mines across India
