Hindustan Copper Limited (HCL) has signed a Memorandum of Understanding (MoU) with Oil India Limited (OIL) on September 19, 2025. This partnership aims to collaborate on the exploration and development of critical and strategic minerals, including copper and associated minerals, both in India and overseas. The MoU focuses on sharing investments and associated risks in exploration, development, mining, and processing activities.
Strategic Collaboration for Mineral Exploration
Hindustan Copper Ltd (HCL) and Oil India Limited (OIL) have formalized a strategic alliance through a Memorandum of Understanding (MoU) signed on September 19, 2025. The primary objective is to foster collaboration in the exploration and development of critical and strategic minerals, encompassing copper and associated minerals, within India and in international markets.
Objectives of the Partnership
The MoU outlines the intent to cooperate on projects involving exploration, development, mining, and processing of critical and copper mineral blocks. This collaboration involves the sharing of investments and associated risks to enhance project viability and success.
Focus on Self-Reliance
This partnership strengthens India’s self-reliance in sourcing strategic minerals. By combining the expertise of both companies, the initiative aims to contribute significantly to the nation’s energy security and technological advancement. This collaboration supports the objectives of the National Critical Mineral Mission.
Source: BSE
