Tycoon Birla’s Hindalco Bids for Indian Critical Minerals Leases
- Metals producer seeks to mine lithium, nickel, graphite
- India selling exploration licenses to boost local supply
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Hindalco Industries Ltd. is bidding for critical minerals exploration sites being auctioned by India, as the metals producer owned by billionaire Kumar Mangalam Birla seeks to build its portfolio of materials required for the world’s green-energy transition.
India began the process late last year to hold its first tranche of auctions for critical minerals sites, key to its goal of gradually moving away from fossil fuels to cleaner energy. The government will sell rights to about 20 blocks of land to explore for metals including rare earths and molybdenum in a process valued at 450 billion rupees ($5.4 billion).