Hindustan Copper (HCL) has executed an MoU with Indian Oil Corporation (IOCL) on 29 June 2025 to jointly participate in copper, critical minerals block auctions, develop and operationalize block for exploration and mining, mining and processing of minerals and share risks across the value chain.

The purpose of the MoU is also to share investments and risks for the development, mining and processing from existing assets of HCL. This MoU does not constitute a legally binding relationship between the parties as per the conditions set-out in the MoU.