Coal India, Hindustan Copper To Work Together In Critical Mineral Sector

State-owned Coal India Ltd. on Tuesday said it has signed an MoU with Hindustan Copper Ltd. to work together in the critical mineral sector.

The two companies executed the non-binding Memorandum of Understanding (MoU) on Monday to collaborate across various aspects in the copper and critical minerals sectors, CIL said in a BSE filing.

Earlier, CIL and IREL (India) Ltd had signed a non-binding MoU to cooperate and collaborate on the development of critical minerals. The MoU aims to promote the development of mutually agreed assets of critical minerals, including mineral sands and rare earth elements.

CIL accounts for over 80% of the domestic coal production.

Critical minerals such as copper, lithium, nickel, cobalt and rare earth are essential raw materials required to fuel the growth of rapidly-growing clean energy technologies and their expanding uses ranging from wind turbines and electricity networks to electric vehicles and battery manufacturing.