Indian zinc-silver producer Hindustan Zinc will aim to expand into uranium mining if the government opens up the sector to private players, CEO Arun Misra told Reuters.
Government sources told the news agency that India wants to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars in investment.
“If new uranium blocks are put out for private companies, Hindustan Zinc will be the first to bid,” Misra said. “We will get into atomic minerals and especially uranium because the country needs it.”
Hindustan Zinc is also looking to begin mining rare earth minerals in India, having won its first such block in the northern state of Uttar Pradesh earlier this year.
It has floated global tenders for companies to explore the potential of the block, where it expects to start extracting neodymium in five to six years, Misra said.
Among other critical minerals, Hindustan Zinc is interested in mining lithium, antimony, germanium, copper, and graphite and is seeking the assistance of firms from Australia, South Africa, Peru, Chile, as well as China for exploration, he said.
Source: Reuters