New Delhi: In a strong push towards enhancing India’s mineral security and reducing import dependence, two leading public sector enterprises — Oil India Limited (OIL) and Hindustan Copper Limited (HCL) — have signed a Memorandum of Understanding (MoU) to jointly explore and develop critical and strategic minerals, including copper and associated resources.
The agreement, signed on September 19, 2025, reflects the growing urgency in securing domestic sources of essential minerals that power everything from electric vehicles and renewable energy systems to defense technologies and semiconductors.
A Strategic Collaboration with Long-Term Vision
This partnership is being hailed as a strategic alignment of capabilities — OIL, a Maharatna company under the Ministry of Petroleum & Natural Gas, brings with it a deep bench of expertise in geological exploration and resource development. Meanwhile, HCL, a Miniratna PSU under the Ministry of Mines, is India’s only fully integrated copper producer, actively engaged in mining, beneficiation, and marketing of copper ore and concentrate.
Together, the two companies aim to identify, explore, and develop mineral blocks both within India and abroad, tapping into untapped reserves of critical minerals essential to the country’s energy transition and industrial growth.
Supporting the National Critical Mineral Mission
The signing of this MoU comes at a time when the Government of India is aggressively pushing forward its National Critical Mineral Mission, aimed at building domestic capacities in key mineral supply chains.
As India ramps up investments in electric mobility, solar energy, digital infrastructure, and defense manufacturing, the need for secure and stable access to critical minerals like copper, lithium, cobalt, and rare earth elements has become paramount.
Officials from both companies noted that this collaboration will not only accelerate mineral exploration but also contribute to the broader goal of self-reliance in strategic sectors, aligning with the national vision of Atmanirbhar Bharat.
Leadership Presence at the MoU Signing
The MoU was exchanged in the presence of:
- Dr. Ranjit Rath, Chairman & Managing Director, Oil India Limited
- Mr. Sanjiv Kumar Singh, Chairman & Managing Director, Hindustan Copper Limited
Senior leadership from both companies were also present, highlighting the importance being placed on this partnership at the highest levels.
What This Means for India’s Resource Strategy
With the increasing global competition for critical minerals, this MoU positions both OIL and HCL to:
- Jointly participate in mineral auctions
- Undertake collaborative exploration projects
- Develop processing infrastructure for mineral beneficiation
- Contribute to India’s long-term technological and energy security
This partnership also sets a precedent for cross-sector collaboration within India’s PSU ecosystem, where oil & gas companies are now stepping into the domain of mining and minerals to support the country’s strategic ambitions.
Looking Forward
As the world transitions to cleaner energy and smarter technologies, access to critical minerals will shape the geopolitical and economic landscape. India’s proactive efforts to secure these resources through domestic exploration and PSU-led partnerships could help ensure that the country is not left behind in the race for mineral independence.
The success of this MoU will now depend on the speed of execution, regulatory clearances, and identification of viable mineral blocks. If successful, it could pave the way for more integrated and high-impact collaborations across India’s public sector enterprises.
About Oil India Limited
Oil India Limited is a Maharatna public sector enterprise under the Ministry of Petroleum & Natural Gas. It is one of India’s premier upstream oil and gas companies, with expertise in the exploration, production, and transportation of crude oil and natural gas. OIL is now actively diversifying into critical minerals, aligning with national goals of resource security and energy transition.
About Hindustan Copper Limited
Hindustan Copper Limited is a Miniratna public sector company under the Ministry of Mines. It is India’s only vertically integrated copper producer, involved in mining, beneficiation, smelting, and refining of copper. HCL plays a key role in supporting India’s non-ferrous metal supply chain and is now focusing on expanding its presence in critical mineral development.
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