Overview

• The state-run companies signed an MoU on September 19 to cooperate on exploration and development of critical and strategic minerals, including copper.
• Both firms said the tie-up supports the National Critical Mineral Mission and advances domestic sourcing goals.
• The central government this month approved a Rs 1,500-crore incentive scheme designed to create about 270 kilotonnes per year of recycling capacity and roughly 40 kilotonnes per year of output over six years.
• Oil India has diversified into critical minerals and outlined about Rs 1.3 trillion in multi-year capex, with Rs 17,000 crore planned for FY2025–26 alongside investments in green hydrogen and biofuels.
• Hindustan Copper contributes mining and processing expertise, following a June MoU with RITES on mineral supply chains, as China retains dominant rare-earth processing and tightens export controls.