Exclusive: Hindustan Copper, Gael, Cooperation on Global Key Mineral Hunting
Hindustan Copper Co., Ltd. (HCL) and Gail (India) Co., Ltd. are about to sign a partnership agreement to jointly explore and develop key minerals. Officials familiar with the matter said the two public sector companies are expected to formalize the Memorandum of Understanding (MOU) in the next two weeks.
The cooperation will focus on securing essential minerals such as copper, lithium, cobalt and rare earth elements that are crucial to areas such as renewable energy, electric vehicles, electronic devices and defense manufacturing.
Sources said the agreement will not only involve exploration within India, but will also include efforts to identify and acquire mineral assets abroad. The aim is to reduce reliance on imports and create a more reliable supply chain to support the country’s industrial growth.
This development is part of a larger national strategy to ensure that minerals that are increasingly competitive in the global markets are entering minerals for a long time. It is aligned with the government’s Atmanirbhar Bharat initiative, which encourages self-reliance across key sectors.
Timing is important. Earlier this year, Prime Minister Narendra Modi visited Chile, a major supplier of copper and lithium, and both countries agreed to strengthen cooperation in the mining industry. The discussion also involves the initiation of negotiations, which will cover trade, investment and mineral development.
If finalized, the HCL-GAIL PACT will mark an important step in India’s broader efforts to strengthen domestic capacity and international partnerships in the mineral sector.
Industry observers see this move as strategic, especially as countries around the world compete for limited mineral resources to support their energy transition and high-tech industries.
