Oil India and IREL sign MoU for critical minerals development
Author: PPD Team Date: August 12, 2025
Oil India Ltd (OIL) and IREL (India) Limited have signed a Memorandum of Understanding to jointly explore and develop rare earth and critical minerals. The agreement was signed in Mumbai on August 7, 2025.
OIL, under the Ministry of Petroleum and Natural Gas, is diversifying beyond oil and gas into critical minerals. IREL, operating under the Department of Atomic Energy, specialises in mining and processing mineral sands, including rare earth element extraction and refining.
The partnership aims to combine the capabilities and resources of both companies to support exploration and development efforts in this sector. This move reflects the increasing focus on securing critical minerals essential for multiple industries.