Oil India and IREL Join Hands to Boost Development of Critical Minerals
Oil India Ltd (OIL) and IREL (India) have signed a Memorandum of Understanding (MoU) to cooperate and collaborate for the development of critical minerals.
August 08, 2025. By Dineshwori
Oil India Ltd, a Maharatna Public Sector Undertaking (PSU) under the Ministry of Petroleum and Natural Gas, is a leading integrated oil and gas company with proven expertise in exploration, development, production and transportation of crude oil and natural gas.
Recognising the growing significance of critical minerals, Oil India has expanded its portfolio beyond oil and gas to include the exploration and development of critical minerals.
IREL, a Miniratna PSU under the Department of Atomic Energy, is engaged in the mining and processing of mineral sands, including the extraction and refining of Rare Earth Elements.
This partnership marks a crucial milestone in India's pursuit of self-reliance in critical minerals and rare earth elements.
As part of identified PSUs under the government’s National Critical Mineral Mission, this collaboration will play a vital role in securing strategic mineral resources essential for the nation's energy security and technological advancement.
The MoU was signed by Ranjan Goswami, Executive Director (BD) of Oil India, and Ravi Prakash Jha, General Manager (Projects) of IREL, in the presence of Dr Ranjit Rath, Chairman and Managing Director of Oil India and Sarada Bhushan Mohanty, Chairman and Managing Director of IREL, and senior officials of both the companies.
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