In a significant step towards strengthening India's self-reliance in critical and strategic mineral sourcing, Oil India Limited (OIL) and Hindustan Copper Limited (HCL) signed a Memorandum of Understanding (MoU) on September 19, 2025, to co-operate and collaborate for the exploration and development of critical and strategic minerals, including copper and associated minerals.
Oil India, a Maharatna PSU under the aegis of the Ministry of Petroleum; Natural Gas, is a premier integrated oil and gas company, possessing proven expertise in exploration, development, production, and transportation of crude oil and natural gas. Given the increasing importance of critical minerals, OIL has diversified into critical minerals, apart from its present portfolio of oil and gas. HCL, a Miniratna PSU under the aegis of the Ministry of Mines, is engaged in mining, production, processing, and marketing of copper and related products. HCL is currently focusing on mining and beneficiation of copper ore and the selling of copper concentrate.
The MoU was signed and exchanged in the presence of Dr. Ranjit Rath, Chairman; Managing Director of Oil India, and Mr. Sanjiv Kumar Singh, Chairman and Managing Director of HCL, along with senior officials of both companies.
OIL and HCL's partnership marks a crucial milestone in India's pursuit of self-reliance in critical and strategic minerals including Copper and associated minerals. To support the objectives of National Critical Mineral Mission of Govt. of India, this collaboration will play a vital role in securing strategic mineral resources essential for the nation's energy security and technological advancement.
