Hindustan Zinc Limited has informed the Exchange regarding 'Issuance of Letter of Intent in favor of the Preferred Bidder'.
HINDZINC · price
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Hindustan Zinc Limited has received a Letter of Intent (LoI) from the Government of Uttar Pradesh as the preferred bidder for a Composite License for the Nawatola-Laband Rare Earth Elements (REE) Block. The block covers 210.01 hectares in Sonbhadra District and was auctioned by the Ministry of Mines under the Mineral Auction Rules 2015. This is a follow-up to an earlier communication dated May 28, 2025. The license grants HZL rights to explore and mine rare earth elements, a critical and strategically important mineral category.
This strengthens HZL's diversification into rare earth elements, a high-value and strategically vital segment, potentially supporting long-term growth. It signals regulatory backing for the company's expansion beyond traditional zinc-lead mining and aligns with India's push for self-reliance in critical minerals.