- JV to develop critical minerals, including copper
- Collaboration supports National Critical Mineral Mission
Hindustan Copper (HCL), a government company that holds all the operating mining leases for copper ore in India, will collaborate with Oil India on exploration and development of critical and strategic minerals that include copper and associate minerals in India and overseas, according to a stock exchange filing by HCL on 19 September 2025.
The two government enterprises have signed an MoU to share investments and associated risks while doing exploration, development, mining and processing of critical and copper mineral blocks. While the ministry of mines has administrative control of HCL, Oil India comes under the ministry of petroleum and natural gas. Oil India has committed to invest Rs 25,000 crore by 2040 to transition to cleaner energy sources, and for renewable energy projects and advanced technologies to minimise greenhouse gas emissions.
The collaboration with Oil India is “to support the objectives of National Critical Mineral Mission of Government of India, (and) will play a vital role in securing strategic mineral resources essential for the nation’s energy security and technological advancement,” stated the press release by HCL.
Earlier this year, it signed an MoU with Madhya Pradesh State Mining Corporation Ltd and the Directorate of Geology & Mining, Madhya Pradesh at the Global Investor Summit for exploration of critical minerals including copper in Madhya Pradesh. HCL also signed an MoU with CODELCO (Corporacion Nacional del Cobre), the State-owned Copper Mining Company of Chile, in April 2025 to facilitate exchange of expertise & technical know-how and enhancing capabilities in mineral exploration and processing.
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