Oil India Limited (OIL) has signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL) on September 19, 2025, to collaborate on the exploration and development of critical and strategic minerals. This partnership aims to boost India’s self-reliance in sourcing essential minerals, including copper and associated minerals. This strategic move diversifies OIL’s portfolio, contributing to the nation’s energy security and technological advancement.
Strategic Collaboration for Mineral Development
Oil India Limited (OIL) and Hindustan Copper Limited (HCL) have formalized a collaboration through a Memorandum of Understanding (MoU), signed on September 19, 2025. This partnership focuses on the exploration and development of critical and strategic minerals, a significant step towards bolstering India’s self-reliance.
Focus on Critical Minerals
The agreement emphasizes cooperation in the exploration and development of key minerals, including copper and associated minerals. This initiative aligns with the national objective of securing strategic mineral resources vital for energy security and technological progress.
Industry Impact
Oil India, a Maharatna PSU, is leveraging its expertise to diversify into critical minerals, complementing its established oil and gas operations. HCL, a Miniratna PSU, brings its mining and production strengths to the collaboration. This partnership is expected to contribute significantly to the National Critical Mineral Mission.
Source: BSE
