Vedanta Group firm Hindustan Zinc has announced the formation of a new subsidiary, aimed at the company's foray into strategic mineral exploration and diversification of its portfolio.

In line with its vision, and its strategic exploration objective to upgrade Ore Reserves and Mineral Resources (R&R), the company has incorporated Hindmetal Exploration Services as a wholly-owned subsidiary with an objective to explore, discover, develop and tap mineral resources. The arm was incorporated on 26 February, 2024.

The increased focus on critical minerals is part of the country's plans to achieve energy transition and strengthen the domestic manufacturing sector, in which these minerals play an important role.

Along with transformational reforms to open up the mineral sector, the Centre has also allowed private sector participation in the exploration and mining of critical minerals which were earlier mined only by government companies.