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Hindustan Power Unit Wins LoI for Platinum Exploration Block in Madhya Pradesh

The LoI follows a forward e-auction conducted by the Ministry of Mines, where Hindustan Power’s unit emerged as the preferred bidder.

March 24, 2026. By Abha Rustagi

Hindustan Power has announced that one of its group firms has secured a Letter of Intent (LoI) to explore a platinum group elements (PGE) block in Madhya Pradesh, marking its entry into India’s critical minerals sector.

The LoI follows a forward e-auction conducted by the Ministry of Mines, where the group firm emerged as the preferred bidder. The Padhar block, spread across about 200 square km, has been identified as a prospective zone for platinum group elements and also contains zinc deposits.

Commenting on the development, Ratul Puri, Chairman, Hindustan Power, said, “Securing this critical mineral block is an important step in strengthening India’s resource resilience. Platinum group elements are key to next-generation technologies that will shape the future of energy, mobility and advanced manufacturing, including production of clean hydrogen, fuel cells, electronic and catalytic systems.”

“With this exploration, we aim to build a reliable domestic resource base for critical minerals, while taking a disciplined and responsible approach. This will support India’s broader priorities of supply chain security and energy leadership,” Puri added.

India has identified critical minerals such as platinum, palladium and rhodium as strategic resources to cut import dependence and bolster domestic manufacturing. Zinc is widely used in galvanisation, battery technologies and renewable energy infrastructure.

Hindustan Power stated that the move reflects its diversification beyond core energy operations into sectors aligned with its long-term industrial and clean energy priorities.

The company is also developing two coal mines in Chhattisgarh and Jharkhand, while expanding its renewable energy portfolio, including a 435 MWp solar project in Uttar Pradesh and multiple grid-scale solar and battery storage projects secured in 2025.

Tags:

Exploration

Hindustan Power

Ratul Puri

India’s critical minerals sector

Platinum group elements

Padhar block

Critical minerals in Madhya Pradesh

Ministry of Mines

Zinc deposits

Critical minerals supply chain

Critical minerals for clean energy