GAIL, Hindustan Copper signs MoU to jointly explore and develop critical mineral resources

New Delhi [India], August 8 (ANI): GAIL and Hindustan Copper Limited (HCL) have signed a Memorandum of Understanding (MoU) to collaborate on the exploration and development of critical mineral resources in India and abroad, a move aimed at strengthening the country's self-reliance in vital minerals and bolstering the clean energy and technology sectors.
The MoU was signed by Sanjay Agarwal, Executive Director (Business Development and Exploration & Production), GAIL, and Binod Kumar Gupta, Executive Director (Mining)- Resource Planning, HCL.
The signing took place in the presence of R.K. Singhal, Director (Business Development), GAIL, and Sanjeev K. Singh, Chairman and Managing Director, HCL, along with senior officials from both organisations.
The press release issued by GAIL said that the agreement marks a strategic partnership between the two public sector majors, combining GAIL's expertise in energy infrastructure with HCL's strengths in mineral exploration and mining.
The collaboration is expected to enhance India's capacity to source, process and utilise critical minerals that are key to sectors such as renewable energy, electric mobility, electronics manufacturing, and other advanced technologies.
"This partnership underscores our commitment to sustainable development and reducing dependence on imports by tapping domestic mineral potential and exploring opportunities overseas," noted GAIL press release.
Critical minerals, which include copper, lithium, cobalt, and rare earth elements, are essential for manufacturing batteries, solar panels, wind turbines, and various electronics.
India currently imports a significant portion of these resources from China, making domestic exploration and production crucial for long-term energy security and industrial growth.
GAIL, a Maharatna central public sector enterprise, is India's leading natural gas transmission and distribution company with operations in gas pipelines, petrochemicals, and renewable energy projects.
"This MoU represents a forward-looking step towards unlocking the potential of India's mineral wealth while also exploring strategic opportunities abroad," the two companies said in a joint statement.
The companies noted that the collaboration reaffirms their shared commitment to national development, technological progress, and sustainable resource management.
GAIL, in addition to its core natural gas business, has been actively expanding into renewables and green hydrogen. (ANI)