OIL And IREL To Cooperate For Mineral Sourcing
Oil India Limited (OIL) announced on 7 August 2025 that is has signed an MoU with IREL (India) Limited to cooperate and collaborate for the development of critical minerals. This will, in turn, strengthen India’s strategic mineral sourcing.
The MoU was signed by Mr Ranjan Goswami, Executive Director (Business Development), OIL and Mr Ravi Prakash Jha, General Manager (Projects), IREL. Also present were the CMD of OIL and IREL Dr Ranjit Rath and Mr Sarda Bhushan Mohanty respectively.
Commenting on the signing, both companies agreed that the partnership marks a milestone in India’s pursuit of self-reliance in critical minerals and rare earth elements. OIL has diversified into critical minerals on account of their increased importance. IREL, a miniratna PSU under the Department of Atomic Energy, is engaged in mining and processing of mineral sands, including the extraction and refining of Rare Earth Elements. Both PSUs have been identified under India’s National Critical Mineral Mission and will play an important role in securing strategic mineral resources essential for the nation’s energy security and technological advancement.
