Hindustan Power secures LoI for platinum exploration block in MP

Hindustan Power has secured an LoI for a platinum group elements block in Madhya Pradesh, marking its entry into critical minerals exploration and diversification

Hindustan Power Group has secured a Letter of Intent (LoI) for exploration of a platinum group elements (PGE) block in Madhya Pradesh, marking its entry into India’s critical minerals sector, the company said on Tuesday.

 

The LoI was awarded to one of its group firms following a forward e-auction conducted by the Union Ministry of Mines, where it emerged as the preferred bidder.

 

The block, located in the Padhar region and spanning about 200 square km, has been identified as a prospective zone for platinum group elements such as platinum, palladium and rhodium, along with zinc deposits. 

The development comes as India steps up efforts to secure domestic supplies of critical minerals essential for clean energy technologies and advanced manufacturing, reducing dependence on imports.

 

 

“Securing this critical mineral block is an important step in strengthening India’s resource resilience,” said Ratul Puri, chairman of Hindustan Power, adding that such minerals are key to technologies including hydrogen fuel cells, electronics and catalytic systems.

 

The move signals a strategic diversification for the company, traditionally focused on power generation, into the mining of critical minerals linked to the energy transition.

 

Platinum group elements are widely used in emission control systems and green hydrogen production, while zinc finds applications in galvanisation and battery technologies, both crucial for renewable energy infrastructure.

 

Apart from this block, Hindustan Power is also developing two coal mines in Jharkhand and Chhattisgarh, while expanding its renewable energy portfolio, including a 435 MW solar project in Uttar Pradesh and multiple battery storage projects.