Ratul Puri led Hindustan Power bags PGE exploration LoI
Ratul Puri-led Hindustan Power enters the critical minerals space with a key exploration win in Madhya Pradesh, raising an important question: can India reduce its dependence on imports for vital minerals? A group firm has secured a Letter of Intent (LoI) to explore the Padhar Platinum Group Elements (PGE) block, marking a strategic step into this high-value sector.
Major step into critical minerals
Hindustan Power has announced that one of its group companies has been awarded a Letter of Intent for exploring the Padhar PGE block in Madhya Pradesh. This follows a forward e-auction by the Union Ministry of Mines, where the firm emerged as the preferred bidder. The block, spread across around 200 square kilometres, is believed to hold platinum group elements and also contains zinc deposits.
This move marks the group’s entry into India’s critical minerals sector, which is becoming increasingly important for industrial growth and clean energy technologies.
Importance of Platinum Group Elements
Platinum group elements (PGEs), including platinum, palladium and rhodium, are essential in modern technologies. They are widely used in hydrogen fuel cells, emission control systems, electrolyzers, and advanced manufacturing processes.
Ratul Puri, Chairman of 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 the 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,” Ratul Puri added.
Zinc found in the block is also important for galvanisation, battery technologies, and protecting renewable energy infrastructure.
Expanding Beyond Energy
Hindustan Power sees this move as part of its broader growth strategy. Puri explained, “For Hindustan Power, this exploration reflects the natural evolution of the company as we expand beyond our established strengths in energy into areas that will define the future industrial landscape. Critical minerals such as platinum group elements are becoming increasingly important for technologies linked to clean energy, advanced mobility, and high-value manufacturing. Entering this space allows us to participate in a strategic segment that is closely aligned with India’s long-term development priorities.”
Alongside this, the company is developing coal mines in Chhattisgarh and Jharkhand, while also expanding its renewable energy portfolio. This includes a 435 MWp solar project in Uttar Pradesh and new solar and battery storage projects secured in 2025.
These efforts reflect the company’s wider role in supporting both traditional and clean energy, while aligning with India’s push for self-reliance in critical resources.
