Hindustan Zink of the Vedanta group conducts research into strategic minerals | Business News – Business Standard

The arm was admitted on Monday, the report said

Vedanta group company Hindustan Zinc on Tuesday announced the setting up of a new subsidiary Hindmetal Exploration Services Pvt Ltd.

The development is focused on the company’s quest for strategic mineral exploration and diversification of its portfolio.

“In line with our vision and with our strategic exploration objective to enhance ore reserves and mineral resources (R&R), the company has established Hindmetal Exploration Services Private Limited, a wholly owned subsidiary of Hindustan Zinc Ltd, with the aim of exploring, discovering, mineral resources develop and tap,” Hindustan Zinc said in a filing with the regulator.

The arm was admitted on Monday, the report said.

Over the past decade, the Center has introduced major transformational reforms to open up the mineral sector, thereby ensuring its contribution to achieving national policy objectives. The Center has also enabled private sector participation in the exploration and mining of critical minerals that were previously extracted only by government-owned companies. , it said.

The increased focus on critical minerals is part of the country’s ambitious plans to achieve the energy transition and strengthen the domestic manufacturing sector, in which these minerals play an important role, the company said.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

First print: February 27, 2024 | 9:26 pm IST