New Delhi: Oil India Limited (OIL) has signed a Memorandum of Understanding (MoU) with Mineral Exploration and Consultancy Limited (MECL) to collaborate on the exploration and development of critical mineral blocks in India and abroad. The agreement was signed in the presence of senior officials from both organisations, highlighting the significance of this partnership in strengthening mineral exploration capabilities.

As part of this collaboration, OIL and MECL will jointly identify, assess, and develop mineral-rich blocks. Their work will extend to both domestic and international projects, with a key focus on the Phop Graphite and Vanadium block in Arunachal Pradesh, which falls under OIL’s purview. This partnership aligns with the government’s goal of securing essential minerals that are vital to the energy and industrial sectors.

By combining expertise and resources, OIL and MECL aim to enhance India’s mineral supply chain and reduce reliance on imports of critical minerals. The initiative is part of OIL’s broader strategy to expand beyond hydrocarbons and support India’s move towards a more self-reliant and sustainable mineral and energy sector.

BI Bureau