New Delhi, March 24 -- Hindustan Power on Monday announced its entry into India's critical minerals sector after one of its group companies secured a Letter of Intent (LoI) for exploration of the Padhar Platinum Group Elements (PGE) block in Madhya Pradesh.

The LoI was awarded following a forward e-auction conducted by the Union Ministry of Mines, where the company emerged as the preferred bidder. The Padhar block spans around 200 square kilometres and has been identified as a prospective zone for critical minerals, particularly platinum group elements (PGEs), along with associated zinc deposits.

PGEs, classified globally as critical minerals, include platinum, palladium and rhodium, which are essential for advanced industrial applicati...