Hindustan Copper Signs MoU with Indian Oil to Jointly Pursue Mineral Exploration and Mining
Hindustan Copper signs MoU with Indian Oil for joint participation in mineral auctions and project development. The agreement is non-binding.
MoU to Enable Collaboration in Critical Minerals Block Auctions and Asset Development
Hindustan Copper Limited (HCL) has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for collaboration in the mineral value chain. The agreement, signed on June 29, 2025, sets the stage for both companies to participate in copper and critical mineral block auctions. It also covers the development, exploration, and operation of mining blocks.
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The MoU includes terms for sharing investments and risks related to the development, mining, and processing of minerals from HCL’s existing assets. However, both companies have stated that the MoU is not legally binding, and further formal agreements will be needed to implement specific initiatives.
This development aligns with India's broader goal to improve domestic sourcing of strategic minerals and promote collaboration among public sector units for resource security.
The disclosure complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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