Kolkata – Hindustan Copper Limited (HCL) has entered into a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for strategic collaboration across the mineral value chain. The agreement, signed on June 29, 2025, lays the groundwork for joint participation in copper and critical mineral block auctions, as well as the development, exploration, and operationalization of mining blocks.

The MoU also includes provisions for sharing investments and risks related to the development, mining, and processing of minerals from HCL’s existing assets. However, both companies have clarified that the MoU does not constitute a legally binding relationship, and that further formal agreements would be required to operationalize specific initiatives.

The development aligns with India's broader objective to enhance domestic sourcing of strategic minerals and foster inter-PSU collaboration for resource security.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.