India Strengthens Self-Reliance in Critical Minerals , Oil India Limited and IREL (India) Limited have taken a significant step towards bolstering India’s self-reliance in strategic mineral sourcing. They inked a Memorandum of Understanding (MoU) on August 7, 2025, in Mumbai to collaborate on the development of Critical Minerals.
Oil India Limited
Oil India Limited, a Maharatna PSU under the Ministry of Petroleum & Natural Gas, is a leading integrated Oil and Gas company with expertise in exploration, development, production, and transportation of crude oil and natural gas.
IREL (India) Limited
IREL (India) Limited, a Miniratna PSU under the Department of Atomic Energy, specializes in mining and processing mineral sands, including the extraction and refining of Rare Earth Elements.
Partnership for Self-Reliance
The partnership between Oil India Limited and IREL (India) Limited signifies a critical milestone in India’s quest for self-reliance in critical minerals and rare earth elements. Designated as key PSUs under the National Critical Mineral Mission of the Indian Government, this collaboration is pivotal in securing strategic mineral resources crucial for the nation’s energy security and technological advancement.
Signing of the MoU
The MoU was signed by Mr. Ranjan Goswami, Executive Director (BD) of Oil India, and Mr. Ravi Prakash Jha, General Manager (Projects) of IREL, in the presence of Dr. Ranjit Rath, Chairman & Managing Director of Oil India, and Mr. Sarada Bhushan Mohanty, Chairman & Managing Director of IREL, along with senior officials from both companies.
