OIL and HCL Sign MoU for exploration and development of critical and strategic minerals

In a significant step towards strengthening India's self-reliance in critical & strategic mineral sourcing, Oil India Limited and Hindustan Copper Limited have signed a Memorandum of Understanding (MoU) on September 19, 2025 to co-operate and collaborate for 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 Ministry of Mines, is engaged in mining, production, processing and marketing of copper and related products. HCL is currently focusing on mining & beneficiation of copper ore and selling of copper concentrate.

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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.

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 & Managing Director of HCL and senior officials of both the companies.