Mines Ministry rules out merger of IREL, HCL, NALCO with Critical Mineral Corporation
THE JHARKHAND STORY DESK Advertisement New Delhi, August 4: The Ministry of Mines has officially clarified that there are no plans…
THE JHARKHAND STORY DESK
New Delhi, August 4: The Ministry of Mines has officially clarified that there are no plans to merge Indian Rare Earths Limited (IREL), Hindustan Copper Limited (HCL), and National Aluminium Company Limited (NALCO) with the National Critical Mineral Corporation. This announcement comes amid queries comparing India’s mineral strategy with China’s model of state-backed monopolies.
The Centre was asked whether India would replicate China’s approach by creating a single entity to consolidate critical mineral resources. China’s dominance in the critical minerals market has been largely attributed to centralised companies like China Minmetals.
However, the Ministry confirmed there are no such consolidation plans for IREL, HCL, and NALCO, all of which operate independently under the Government of India.
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Tech-Driven Reforms to Ensure Transparency
Responding to concerns about systemic reforms in mineral management, the government highlighted recent technological interventions. The Ministry of Mines issued guidelines on October 3, 2023, to major mineral-rich states aimed at preventing grade misclassification of iron ore and other minerals.
The guidelines propose blockchain-based tracking of minerals across the entire value chain—from self-declaration of grades to transport tracking and automated invoice reconciliation. The framework also includes provisions for AI-powered satellite audits to strengthen surveillance and compliance.
About IREL (India) Limited
IREL is a CPSE under the Department of Atomic Energy involved in mining and processing rare earth minerals. It plays a vital role in India’s strategic mineral value chain.
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About Hindustan Copper Limited (HCL)
HCL is a PSU under the Ministry of Mines and the only vertically integrated copper producer in India. It is crucial for domestic copper security.
About National Aluminium Company Limited (NALCO)
NALCO is a Navratna PSU under the Ministry of Mines, engaged in integrated operations of bauxite mining, alumina refining, aluminium smelting, and power generation.
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