HCL
HCL, OIL sign MoU for collaboration in exploration, development of critical and strategic minerals
The Oil India Limited and Hindustan Copper Limited (HCL) have signed a Memorandum of Understanding (MoU) on Friday, to co-operate and collaborate for exploration and development of critical and strategic minerals including Copper and associated minerals.
Hindustan Copper Limited, a Miniratna PSU under the Ministry of Mines, is engaged in mining, production, processing, and marketing of copper and related products.
The company is currently focused on mining and beneficiation of copper ore and the sale of copper concentrate.
Oil India, a Maharatna PSU under the Ministry of Petroleum & Natural Gas, is a premier integrated oil and gas company with proven expertise in exploration, development, production, and transportation of crude oil and natural gas.
Recognizing the growing importance of critical minerals, OIL has diversified into this sector to complement its core energy portfolio.
The MoU was signed and exchanged in the presence of Sanjiv Kumar Singh, Chairman and Managing Director of HCL and Ranjit Rath, Chairman & Managing Director of Oil India and senior officials of both the companies.
The collaboration between HCL and OIL represents a crucial milestone in India’s pursuit of mineral security. Aligned with the objectives of the Government of India’s National Critical Mineral Mission, this partnership will play a pivotal role in securing strategic mineral resources essential for the nation’s energy security, industrial growth, and technological advancement.
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