Government-owned Hindustan Copper Ltd (HCL) signed a Memorandum of Understanding (MoU) with Coal India Limited (CIL) to collaborate and seek strategic opportunity in the copper and strategic minerals business space. The transaction, inked on June 30, 2025, is for enhancing India's mineral security by acquiring substantial resources that will enable the nation to move towards clean energy and advanced manufacturing.
In Hindustan Copper's regulatory filing, the MoU will enable the public sector undertaking to explore and identify potential areas of cooperation and collaboration like joint ventures with international players involved in copper and critical mineral development. The deal is non-binding in nature and involves no creation of legal obligation between parties at this point.
Hindustan Copper is India's sole vertically integrated copper-producing company and owns all operational copper mining leases in India. The alliance with Coal India, which is itself a giant miner, has been seen as a strategic consolidation of resources and technical expertise to develop and maybe monetize domestic and overseas assets.
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MoU is part of HCL's robust financials. The company has seen its profit before tax increase 54% at ₹633.51 crore in FY 2024–25 from ₹410.43 crore in the last fiscal. HCL's operations revenue was also its highest ever, at ₹2,070.97 crore in FY 2024–25, an increase of 21% from ₹1,717 crore in FY 2023–24.
With increasing world demand for copper and strategic minerals, critical inputs to electric vehicles, renewable energy, and electronics, this strategic alliance places both PSUs at the forefront of the knot with India's resource self-reliance.
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