Hindustan Copper Signs MoU with RITES to Strengthen Critical Mineral Supply Chain

9 Jun 2025 , 05:22 PM

Hindustan Copper Ltd (HCL) signed a Memorandum of Understanding (MoU) with RITES Ltd on June 6, aiming to collaborate on projects related to metals and critical minerals. The project is to jointly develop a supply chain that is fast, dependable, and sustainable, covering a range of minerals, including copper and other strategically important resources.

As per the stock exchange filing made on June 7, the partnership may include joint participation in mineral block auctions and subsequent development of those blocks. Both companies intend to explore collaboration across key activities such as exploration, mining, transportation, and infrastructure support.

The MoU also notes that HCL and RITES will decide on financial structures individually for each project, depending on the scale and nature of the opportunity. Risk-sharing mechanisms will be part of the framework, though specific terms will be worked out case by case. It is a non-binding agreement, which means neither party is legally obligated to proceed with any project unless mutually agreed.

RITES, known for its expertise in engineering and transport logistics, will support operations linked to movement and infrastructure planning. HCL brings to the table its mining experience and industry knowledge in copper production and mineral asset development.

The agreement aligns with the government’s broader focus on securing critical minerals through domestic development and reducing import dependency. At the time of disclosure, no specific project had been announced under the MoU, but both companies have expressed interest in exploring relevant opportunities jointly.

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