In a notable advancement for India’s mineral self-sufficiency, Oil India Limited (OIL) and Hindustan Copper Limited (HCL) have formalized a partnership. On September 19, 2025, both entities signed a Memorandum of Understanding (MoU) aimed at the joint exploration and development of critical and strategic minerals, specifically Copper and its associated resources.
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OIL, recognized as a Maharatna PSU under the Ministry of Petroleum & Natural Gas, is at the forefront of the oil and gas sector, with extensive operations spanning exploration, production, and transportation of crude oil and natural gas. In response to the growing demand for critical minerals, OIL is expanding its focus beyond hydrocarbons to include vital minerals. On the other side, HCL, a Miniratna PSU under the Ministry of Mines, specializes in the mining, processing, and marketing of copper and its by-products, concentrating primarily on the extraction and beneficiation of copper ore.
The collaboration between OIL and HCL is set to mark a significant milestone in India’s strategy to enhance its self-reliance in essential minerals. This initiative aligns with the goals of the National Critical Mineral Mission, spearheaded by the Government of India, aiming to secure a stable supply of strategic minerals crucial for the nation’s energy security and technological progress.
The formal signing of the MoU was witnessed by top officials from both companies, including Dr. Ranjit Rath, Chairman & Managing Director of Oil India, and Mr. Sanjiv Kumar Singh, Chairman & Managing Director of HCL. The event underscores the commitment of both organizations to support India’s strategic objectives in resource development.
