5 Critical Mineral Stocks to Watch in 2026 Amid the Mineral Rush

#2 Hindustan Zinc

Next on the list is Hindustan Zinc.

Hindustan Zinc, a part of the Vedanta Group, is the world's largest integrated zinc producer and among the top five silver producers globally.

Both zinc and silver are increasingly being recognised as critical minerals due to their growing use in renewable energy, electric vehicles, electronics, and advanced technologies.

The company's strong cost leadership, scale, and integrated operations further strengthen its position in the critical minerals.

Beyond zinc and silver, Hindustan Zinc is also expanding its presence across other critical minerals. Through its wholly owned subsidiary, Hindmetal Exploration Services Private Limited, the company secured a tungsten block in Andhra Pradesh during FY25.

In May 2025, it further strengthened its portfolio by winning a potash block in Rajasthan and a rare earth elements block in Uttar Pradesh.

According to the FY25 annual report, Hindustan Zinc, through Hindmetal Exploration Services, is actively exploring high-potential critical mineral blocks across India.

These include copper, lithium, nickel, cobalt, potash, and gold - all essential for electric vehicles, semiconductors, and clean energy technologies.

On the financial front, over the past three years the company's revenue has seen a growth of 5%, meanwhile, net profit grew at a CAGR of 2.4%.

The company's three-year average ROE and ROCE stand at 70% and 80.7%.

Hindustan Zinc's Financial Snapshot

For more details, see the Hindustan Zinc company fact sheet and quarterly results.

#3 Gujarat Mineral Development Corporation (GMDC)

Next on the list is GMDC.

The company is ranked 469th among India's Fortune 500 companies and is among the top five organisations in the mining sector.

It is also India's second-largest lignite-producing company and the No 1 lignite merchant seller in the country.

In the critical minerals space, GMDC is developing one of the world's largest rare earth deposits at Ambadungar.

This processing hub will integrate the entire rare earth value chain and enable downstream manufacturing across industries such as metals and alloys, NdFeB magnets, electric motors, glass, and optical glass.

Its rare earth portfolio includes key light rare earth elements such as:

The Ambadungar deposits contain Light Rare Earth Elements (LREEs), which are considered critical minerals for clean energy, electric mobility, and advanced technology applications, strengthening India's domestic critical mineral supply chain.

Going forward, the company plans to further strengthens its REE portfolio.

On the financial front, over the past three years the company's revenue has seen a growth of 1.4%, meanwhile, meanwhile the profit saw a CAGR growth of 15.6%.

The company's three-year average ROE and ROCE stand at 13.8% and 18.5%.

GMDC's Financial Snapshot

For more details, see the GMDC company fact sheet and quarterly results

#4 Vedanta

Next on the list is Vedanta.

The company is a leading global producer of metals, oil & gas, power, and critical minerals, with a strong focus on building a diversified resource portfolio.

It is actively expanding across aluminium, zinc, silver, nickel, and copper through long-life assets, strengthening its position in the critical minerals ecosystem.

Vedanta has also secured 4 critical mineral blocks auctioned as Composite Licences by the Ministry of Mines during FY 2024-25, highlighting its growing presence in strategic minerals.

According to the company's release dated 30 October 2025, the government's push through the National Critical Mineral Mission (NCMM) marks a turning point in unlocking India's mineral potential.

Of the 55 critical mineral blocks auctioned so far, 34 have been successfully allocated, with Vedanta securing 10 blocks. These include cobalt, rare earth elements (REEs), vanadium, graphite, and potash.

This positions Vedanta among the largest private contributors to India's mineral security and aligns with the country's clean energy and strategic resource ambitions.

On the financial front, over the past three years the company's revenue has seen a growth of 1.4%, meanwhile, meanwhile the profit saw a CAGR growth of 15.6%.

The company's three-year average ROE and ROCE stand at 13.8% and 18.5%.

Vedanta's Financial Snapshot

For more details, see the VEDANTA company fact sheet and quarterly results.

#5 Coal India

Last on the list is Coal India.

Coal India is the single largest coal producer in the world. Across eight Indian states, the company operates in 85 mining areas.

In the critical mineral space, Coal India has emerged as the preferred bidder for two graphite blocks - Khattali Chhoti Graphite Block in Madhya Pradesh and Oranga-Revatipur Graphite and Vanadium Block in Chhattisgarh, marking its strategic diversification beyond coal.

The company has also signed a non-binding MoU with IREL (India) Limited to collaborate on the development of critical minerals, including rare earth elements.

Further, Coal India is exploring opportunities to acquire critical mineral assets both domestically and overseas in mineral-rich countries such as Australia, Argentina, and Chile. The company has also signed an MoU with Curtin University to collaborate in the critical minerals sector.

Additionally, Coal India is working alongside Khanij Bidesh India and other PSUs, and has entered the second phase of negotiations to acquire lithium assets in Australia, with due diligence currently underway.

Going forward, Coal India plans to participate across the entire critical minerals value chain through standalone ventures and strategic partnerships. These include:

• Mining of critical minerals.

• Midstream and downstream processing.

• Establishment of end-product manufacturing facilities.

On the financial front, over the past three years the company's revenue has seen a growth of 11.2%, meanwhile, net profit grew at a CAGR of 26.7%.

The company's three-year average ROE and ROCE stand at 22.7% and 32.3%.

Coal India's Financial Snapshot

For more details, see the Coal India company fact sheet and quarterly results.

Conclusion

As the global transition toward clean energy accelerates, demand for critical minerals is expected to grow significantly.

These minerals play a vital role in electric vehicles, renewable energy, defence, and advanced technologies, positioning companies operating in this space for long-term growth.

As investments in exploration, processing, and supply chain development increase, companies involved in critical minerals are likely to strengthen their strategic importance and market position.

However, investors should remain mindful that the sector is still evolving, with risks such as policy changes, long project gestation periods, and commodity price volatility potentially impacting performance.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

Happy investing.

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