Hindalco Bids for Nickel-Cobalt Mines in India

New Delhi, May 24 (PTI) Aditya Birla Group firm Hindalco Industries on Friday said it is in the process of bidding for two nickel-cobalt mineral blocks in Maharashtra and Karnataka.

Speaking to the media, Hindalco Industries Managing Director Satish Pai said the company is not scouting for any critical mineral blocks overseas as there are a lot of blocks that have been put up for sale in India.

"We are bidding for two nickel cobalt mines," he said.

Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements are essential components in many of today's rapidly growing clean energy technologies -- from wind turbines and electricity networks to electric vehicles.

"We are participating in those auctions. Because we believe there are quite a few interesting mines in India that have not been explored, so the government is coming up with nickel-cobalt mines, lithium mines, copper mines, and we are going to focus more on India than going overseas," he said.

The company, he said, had bid for the lithium block but did not get it.

"We are looking to all these critical mines activity in India... we have expertise," he said.

Pai further said the company would not be bidding for any coal blocks as its further expansion will be in renewable power.

The government has started the auction of 38 blocks of critical minerals.

Hindalco Industries Ltd is the metals flagship company of the Aditya Birla Group.