Hindustan Copper Ltd (HCL) on Friday entered into an initial pact with Oil India Ltd for cooperation on exploration and development of critical and strategic minerals, including copper.
The development comes at a time when the country is prioritising domestic production to reduce import dependency on China.
State-owned Oil India Ltd (OIL) has a proven expertise in exploration, development, production and transportation of crude oil and natural gas.
“In a significant step towards strengthening India’s self-reliance in critical and strategic mineral sourcing, Oil India Ltd and Hindustan Copper Ltd signed a Memorandum of Understanding (MoU) on September 19, 2025,” HCL said in a statement.
HCL, a PSU under the mines ministry, is engaged in mining, production, processing and marketing of copper and related products.
It is focusing on mining and beneficiation of copper ore and selling of copper concentrate.
Hindustan Copper had earlier told PTI that it plans to bid for critical mineral