Coal India, IREL Partner to Advance Critical Mineral Development in India

6 Jan 2025 , 10:00 PM

Coal India Limited (CIL) signed a Non-Binding Memorandum of Understanding with IREL (India) Limited, a public sector enterprise under the Department of Atomic Energy, for boosting India’s critical minerals sector. The collaboration was inked on January 6, 2025, to explore mining, refining, and sourcing critical minerals such as mineral sands and rare earth elements (REE).

The partnership looks at developing and bolstering capabilities within the sectors, which depend primarily on the listed critical minerals in critical areas, namely, defence and renewable energy besides electronics. The focus for MoU shall remain in joint developments and discoveries domestically as well as internationally about potential assets and locations in regards to critical minerals. Coal India Limited shares has witnessed a total of ₹379.45 which is a 3.61% dip in the last one year, and 23% dip in the last six months.

Through such partnership, dependency of India will decrease with improved resource security to sustain developmental agenda of mining industries. This both companies would aim to use their expertise to increase India’s role in the critical mineral value chain, as is envisioned by the nation for the achievement of self-reliance in the resource and thus also supports the overall goals of the nation toward industrial growth and technology, and that makes it strategic for the country’s long-term economic resilience.