Hind Zinc shares in focus amid pact with UP govt to explore Nawatola rare earths block

Hindustan Zinc Ltd (Hind Zinc), the world’s largest integrated zinc producer and one of the top ten silver producers globally, is in focus on Monday after the Vedanta group firm executed the deed for grant of composite licence (CL) under the provisions of Schedule V of the Mines and Minerals (Development and Regulation) Act, 1957, with the government of Uttar Pradesh in respect of the Nawatola Laband Rare Earth Elements (REE) Block, Uttar Pradesh.

The Nawatola Laband REE Block, having an area of 210.01 hectares, is located in Sonbhadra District, Uttar Pradesh, Hind Zinc informed stock exchanges.

"The execution of the composite Licence entitles the company to undertake reconnaissance/prospecting and exploration activities in accordance with the terms and conditions of the licence and the applicable statutory provisions. Upon successful completion of exploration and fulfillment of the terms and conditions applicable to the successful bidder under the MMDR Act, the Mineral (Auction) Rules, 2015, and the Composite Licence, the company shall be eligible for grant of a Mining Lease in accordance with the applicable law," Hind Zinc said. 

On June 22, the company signed a Memorandum of Understanding (MoU) with Advantek Associates LLP and Aero Eagle Automobiles Private Limited to explore the adoption of green hydrogen and alternative clean energy solutions across its operations. The collaboration aimed to evaluate innovative technologies that can support the transition towards low-carbon and future-ready mining. 

"Through this MoU, Hindustan Zinc is set to pioneer the use of hydrogen fuel for underground mining applications, positioning it to become the only company to deploy this technology in such environments. The collaboration is part of Hindustan Zinc’s larger strategy to build future-ready, low-carbon and technology-led mining operations, aligned with its commitment to become Net Zero by 2050 or sooner," Hind Zinc said.

The company last week deployed India’s first 250 mt capacity electric crane at Zinc Smelter Debari in Rajasthan. Earlier this year, the company also launched four electric loaders at the Rampura Agucha Mine, expanding the footprint of electric-powered equipment across operations.