The government plans to introduce a policy for recovering critical minerals from mining by-products or tailings. This initiative aims to enhance the availability of essential minerals for manufacturing in India, ensuring a stable supply for key industries such as electronics and renewable energy.
Finance Minister Nirmala Sitharaman said, “This will help secure their availability for manufacturing in India”. Customs duties on waste and scrap of critical minerals like antimony, cobalt, tungsten, copper, lithium-ion batteries, lead, zinc, and cobalt powder have been scrapped.
Furthermore, the government has extended duty exemptions on capital goods used in lithium-ion battery production. Key materials such as cobalt products, LED, zinc, lithium-ion battery scrap, and 12 critical minerals are now exempt from Basic Customs Duty (BCD). This initiative supports the growth of the battery industry by reducing import costs and promoting local manufacturing.
Mineral stocks to benefit from these schemes:
1. Gujarat Mineral Development Corporation (GMDC)
A leading mining and mineral processing company in Gujarat, GMDC focuses on lignite, bauxite, and fluorspar, playing a key role in India’s industrial mineral supply chain.
The share price of GMDC Limited went up 4.4 percent to Rs. 336.30 per share on Saturday, an increase from its previous close of Rs. 322.05 per share.
2. Hindustan Copper
A public sector undertaking, it is India’s only vertically integrated copper producer, engaged in mining, beneficiation, smelting, and refining of copper ore.
The share price of Hindustan Copper Limited went up 1.67 percent to Rs. 242.98 per share on Saturday, an increase from its previous close of Rs. 238.98 per share.
3. Orissa Minerals Development Company (OMDC)
A subsidiary of RINL, OMDC specialises in iron and manganese mining, contributing significantly to Odisha’s mineral-rich economy.
The share price of OMDC Limited went up 2.24 percent to Rs. 6,418 per share on Saturday, an increase from its previous close of Rs. 6,277.70 per share.
4. Hindustan Zinc
A Vedanta Group company, it is one of the world’s largest integrated zinc producers, with operations spanning zinc, lead, and silver mining.
The share price of Hindustan Zinc Limited went up 1.69 percent to Rs. 457.75 per share on Saturday, an increase from its previous close of Rs. 450.15 per share.
5. MOIL
Formerly known as Manganese Ore India Limited, MOIL is a leading producer of manganese ore, catering to the steel and ferroalloy industries.
The share price of MOIL Limited went up 4.1 percent to Rs. 318.90 per share on Saturday, an increase from its previous close of Rs. 306.35 per share.
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6. Vedanta
A global, diversified natural resources company, Vedanta is a major player in zinc, lead, silver, iron ore, and oil & gas, with extensive mining operations in India and abroad.
The share price of Vedanta Limited went up 1.2 percent to Rs. 446.65 per share on Saturday, an increase from its previous close of Rs. 441.40 per share.
7. MMTC
Primarily a trading company, MMTC deals in minerals like coal, iron ore, and precious metals, facilitating India’s import and export of key mineral resources.
The share price of MMTC Limited went up 2.06 percent to Rs. 70.79 per share on Saturday, an increase from its previous close of Rs. 69.36 per share.
8. NMDC
India’s largest iron ore producer, NMDC also explores and mines diamonds, limestone, and other minerals, supporting the country’s steel and infrastructure sectors.
The share price of NMDC Limited went up 1.04 percent to Rs. 66.79 per share on Saturday, an increase from its previous close of Rs. 66.10 per share.
9. Coal India
The world’s largest coal-producing company, Coal India, dominates India’s coal mining industry, ensuring energy security and fuelling thermal power generation.
The share price of Coal India Limited went up 0.9 percent to Rs. 399.45 per share on Saturday, an increase from its previous close of Rs. 395.90 per share.
Written By Fazal Ul Vahab C H
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