Oil India, Hindustan Copper Sign MoU to Explore Critical Minerals

19 Sep 2025 , 04:13 PM

Oil India Ltd (OIL) and Hindustan Copper Ltd (HCL) have signed an agreement to work together on the exploration and development of critical minerals, including copper. The pact was formalised on September 19.

The collaboration is part of the government’s National Critical Minerals Mission, which is aimed at building long-term security of resources essential for India’s clean energy transition and high-tech manufacturing.

For OIL, one of the country’s largest state-owned energy companies, the move marks a shift beyond its traditional oil and gas business into the minerals sector. Company officials said the step would help diversify its portfolio and position it in areas that are increasingly crucial for the economy.

HCL, which operates under the Ministry of Mines, is India’s only integrated copper producer. Its operations span mining, ore processing and sales of copper concentrate, giving it a central role in the partnership.

The MoU was signed in the presence of Ranjit Rath, chairman and managing director of OIL, and Sanjiv Kumar Singh, chairman and managing director of HCL, along with senior executives from both companies.

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