Oil India Limited (OIL), a Maharatna CPSE under the Ministry of Petroleum and Natural Gas, has signed a Memorandum of Understanding (MoU) with Mineral Exploration and Consultancy Limited (MECL), a Miniratna-I CPSE under the ministry of mines. The partnership aims to enhance the exploration and development of critical mineral blocks in India and abroad.
Key Leaders Witness the Agreement
The MoU signing took place in the presence of OIL’s Chairman and Managing Director (CMD), the Director, and senior officials from both organizations. Their participation highlights the strategic significance of the collaboration in securing essential minerals for India’s energy future.
Focus on Critical Mineral Exploration
OIL and MECL will work together to identify, evaluate, and develop mineral-rich blocks across India and overseas. Their joint efforts will support India’s growing demand for critical minerals, ensuring a stable supply for key industries.
Phop Graphite and Vanadium Block in Arunachal Pradesh
As part of this initiative, OIL and MECL will explore and develop several blocks, including the Phop Graphite and Vanadium block in Arunachal Pradesh, which was recently awarded to Oil India Limited.
As reported by psuconnect.in, the partnership strengthens India’s commitment to self-reliance in mineral resources and sustainable development.
