【India】Oil India and HCL Sign Agreement for Mineral Exploration and Development

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Editor’s Note

This article outlines a strategic partnership between two Indian state-owned enterprises to advance mineral exploration, particularly for copper, under the country’s National Critical Minerals Mission.

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Key Points of the Agreement

In a strategic initiative to strengthen India’s mineral security, Oil India Limited (OIL) and Hindustan Copper Limited (HCL) signed a Memorandum of Understanding (MoU) on September 19, 2025. The objective of this agreement is to jointly advance the exploration and development of minerals, specifically copper and associated minerals. This partnership is a crucial part of India’s National Critical Minerals Mission, which aims to secure the supply of raw materials essential for energy, industry, and technology.

Key Points of the Agreement
  • Joint exploration and development of copper and other critical minerals.
  • Collaboration in mining, mineral beneficiation, and processing.
  • Achieving self-reliance in the critical mineral supply chain.

The goal is to enhance production capacity and operations by combining OIL’s resource exploration capabilities with HCL’s expertise in mining and metal production.

Why Are These Minerals Important?

Copper and other critical minerals are essential for:

  • Clean energy technologies (solar panels, wind turbines).
  • Electric vehicles (EVs), which require extensive copper wiring and batteries.
  • High-technology electronics, defense systems, and digital infrastructure.
“Ensuring supply from domestic sources is crucial for reducing import dependency, preparing for the energy transition, and maintaining industrial resilience.”
Roles of the Two PSUs

Oil India Limited (OIL)

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  • Maharatna PSU, under the Ministry of Petroleum & Natural Gas.
  • Traditionally focused on oil and gas exploration, now expanding into mineral exploration.

Hindustan Copper Limited (HCL)

  • Mini-Ratna PSU, under the Ministry of Mines.
  • India’s only vertically integrated copper producer – from mining to refining.

The partnership between the two will create an integrated value chain combining upstream (exploration) and downstream (processing) capabilities.

Key Facts
  • MoU Signing Date: September 19, 2025
  • Involved Organizations:
    • Oil India Limited (OIL): Maharatna PSU, Ministry of Petroleum & Natural Gas
    • Hindustan Copper Limited (HCL): Mini-Ratna PSU, Ministry of Mines
  • Focused Minerals: Copper and other critical minerals
    • The Hindu Review in December 2025
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⏰ Published on: September 20, 2025