Latest news with #RareEarthElements
The Hindu
24-07-2025
- Business
- The Hindu
Vedanta declared preferred bidder for Janthakal iron ore mine in Karnataka
Vedanta Limited, a natural resources and critical minerals company, has been declared as the preferred bidder for the Janthakal iron ore mine in Chitradurga. The company emerged successful in the e-auction process conducted by the Department of State Mines and Geology. The Janthakal block spans 71.16 hectares and is categorised as a G3 level exploration site, according to a company release. The award is subject to subsequent approvals, clearances, and fulfilment of conditions laid out in the tender. During the quarter, Hindustan Zinc Limited (a Vedanta Group company) secured two critical mineral blocks, Potash in Rajasthan and Rare Earth Elements (REEs) in Uttar Pradesh, the company's release said.
Malaysian Reserve
21-07-2025
- Business
- Malaysian Reserve
Hindustan Zinc beats consensus, backed by all-time high silver prices and first quarter lowest cost of production
UDAIPUR, India, July 21, 2025 /PRNewswire/ — India-based Hindustan Zinc Limited, a Vedanta Group company and the world's largest integrated zinc producer, announced its financial results for the first quarter ended 30th June 2025 on 18th July 2025. The company registered its highest ever first quarter mined metal production of 265 KT. Also, the company clocked record quarterly alloy production from subsidiary Hindustan Zinc Alloys (HZAPL), taking overall share of value-added products to c.24%. The company registered the lowest ever first quarter zinc cost of production (COP)^ at US$ 1,010/MT, better 9% YoY. The company delivered a profit, beating estimates to US$ 261 million with an industry leading EBITDA margin of c.50%. Hindustan Zinc, amongst the top five silver producers globally, has witnessed continued significant contribution from the silver segment to profitability at c.41%. During the quarter, the company secured two critical mineral blocks, Potash in Rajasthan and Rare Earth Elements (REEs) in Uttar Pradesh. In the same period, the company's renewable energy consumption increased to c. 19%, on track to progressively achieve 70% by FY28. Along with that, Hindustan Zinc's Board approved the first phase of plans towards doubling production capacity with an investment of US$ 1.4 billion to set up a new 250 KTPA integrated smelting complex alongside similar expansion of mines & mills capacities. Historically, Hindustan Zinc has maintained investment grade rating 'AAA' and recently received ratings reaffirmation at CRISIL AAA/Stable/CRISIL A1+. Arun Misra, Chief Executive Officer, said: 'Delivering our highest-ever first quarter mined metal production at the lowest-ever zinc cost of production reflects our relentless focus on operational efficiencies and cost leadership. We have further strengthened our growth pipeline with Board approved Phase-1 of plans towards doubling the production capacity. Coupled with the addition of critical minerals blocks and rare earth elements, we are poised to transform into a multi-metal powerhouse, unlocking sustained value for our stakeholders.' USD-INR rate is 85.57^since underground transition About Hindustan Zinc Limited Hindustan Zinc Limited, a Vedanta Group company, is the world's largest integrated zinc producer and recognized as the world's most sustainable metals & mining company by the S&P Global CSA 2024. Disclaimer This release contains forward-looking statements that may differ from actual results. We undertake no obligation to update them. Photo:
Time of India
17-07-2025
- Business
- Time of India
Hindustan Zinc secures potash block, adds to REE and tungsten assets in critical minerals push
New Delhi: Hindustan Zinc Limited (HZL) on Wednesday said it has received a Letter of Intent (LoI) from the Ministry of Mines for a potash block located in Hanumangarh district of Rajasthan. The company secured the block under Tranche V of the Centre's e-auction process conducted in May 2025. The block spans over 1,800 hectares and is among the first potash blocks awarded in the country. This is Hindustan Zinc's third acquisition in the critical minerals segment in 2025. Earlier this month, the company had received an LoI from the Uttar Pradesh government for a Rare Earth Elements (REE) block and previously secured a Tungsten and Associated Minerals block in Andhra Pradesh. Arun Misra, CEO of Hindustan Zinc Limited, said, 'At Hindustan Zinc, we have deep expertise in strategic mineral exploration. This acquisition is in line with our strategic foray into the critical minerals segment to support the nation's mineral security goals for rapid economic growth.' Potash is a key input for the fertiliser industry, especially in the production of NPK fertilisers . India currently imports all its potash requirements from countries including Canada, Belarus, Jordan, and South Korea. The auction of the country's first potash and halite blocks is seen as a step towards reducing import dependence and supporting domestic agricultural inputs. Hindustan Zinc, a Vedanta Group company, is India's only and the world's largest integrated zinc producer. It holds around 77% share in India's primary zinc market and supplies to over 40 countries. The company is among the top five silver producers globally. Hindustan Zinc said its recent mineral acquisitions align with its strategy to build a portfolio of high-quality critical mineral assets with long-term mining potential. The company said it aims to leverage its in-house exploration and mining capabilities to develop these assets and contribute to India's goal of strengthening domestic mineral security.
TechCrunch
16-07-2025
- Business
- TechCrunch
Nvidia's resumption of H20 chip sales related to rare earth element trade talks
Rare earth elements appear to be behind Nvidia's stance on China. After announcing in June plans to essentially withdraw from the Chinese market, the semiconductor chip and AI giant reversed course and said it was filing an application to restart sales of its H20 AI chip to China. U.S. Commerce Secretary Howard Lutnick said Tuesday that Nvidia's plans to start selling its H20 AI chips are tied to ongoing trade discussions with China regarding rare earth elements, according to reporting from Reuters. AMD plans to restart sales of its MI308 AI chip in China too. Rare earth elements (REE) like lanthanum and cerium, and which are largely mined in China, are necessary components in technology, including rechargeable batteries for electric vehicles. These REEs have become a critical point in the current trade debates between the U.S. and China. Not everyone is happy with this trade development though. The decision 'would not only hand our foreign adversaries our most advanced technologies, but is also dangerously inconsistent with this administration's previously-stated position on export controls for China,' Congressman Raja Krishnamoorthi, said in a statement, according to Reuters. But Lutnick isn't concerned and told CNBC on Tuesday that China is only getting Nvidia's 'fourth best' chip. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW 'We don't sell them our best stuff, not our second best stuff, not even our third best,' Lutnick said in the interview. This news comes less than a week after it was rumored that Nvidia would be designing and releasing a new AI chip specifically for the Chinese market to resume business in the country without violating U.S. chip export rules. The U.S. is still trying to figure out what its AI chip export rules are going to look like. The Trump administration formally rescinded the Biden administration's AI Diffusion Rule in May and there hasn't been a formal update since. The Trump administration was rumored to be considering further restrictions on AI chip exports to countries like Thailand and Malaysia, to prevent smuggling, Bloomberg reported last week. Malaysia implemented trade permits on U.S. made AI chips on Monday. TechCrunch reached out to Nvidia for comment.
Time of India
16-07-2025
- Business
- Time of India
Hindustan Zinc receives govt approval for potash block in Rajasthan
Hindustan Zinc Limited has received a Letter of Intent (LOI) from the Ministry of Mines, Government of India , for the allocation of a potash and halite block in Hanumangarh district, Rajasthan. The company secured this block under Tranche V of the central government's e-auction held in May 2025. This is one of the first potash blocks to be allocated in the country. The awarded block spans over 1,800 hectares and marks another step in the company's expansion into the critical minerals sector. Earlier this month, the company received a separate LOI from the Government of Uttar Pradesh for a Rare Earth Elements (REE) block. It has now secured three critical mineral assets, including a tungsten and associated minerals block in Andhra Pradesh. Arun Misra, CEO, Hindustan Zinc, said, 'At Hindustan Zinc, we have deep expertise in strategic mineral exploration. This acquisition is in line with our strategic foray into the critical minerals segment to support the nation's mineral security goals for rapid economic growth.' Strategic importance of Potash Potash is essential for manufacturing NPK fertilisers, which are widely used in Indian agriculture. India currently imports all of its potash requirements from countries such as Canada, Belarus, Jordan, and South Korea. The allocation of domestic potash blocks is intended to reduce import dependency and promote fertiliser self-reliance. The recent acquisitions align with Hindustan Zinc's stated strategy to obtain mineral assets with long-term potential. The company plans to apply its internal exploration and mining expertise to develop these resources. Hindustan Zinc, a Vedanta Group company, is the largest integrated zinc producer globally and holds around 77% share of India's primary zinc market. It is also among the world's top five silver producers.
