- OIL India signed agreement for Phop Graphite and Vanadium block in Arunachal Pradesh
- CESHS will join as local partner with a 10% stake in the mineral exploration project
- CESHS to support surveys and coordinate with communities for smooth exploration activities
OIL India Ltd. has signed a Deed of Agreement for Composite Licence of Phop Graphite and Vanadium block at Yazali circle in Arunachal Pradesh, an official statement said.
The agreement was signed on Thursday for the mineral block located in Keyi Panyor district, in the presence of the state Geology and Mining secretary A K Singh, Chief General Manager of OIL Raghunath Mishra, and Centre of Earth Science and Himalayan Studies (CESHS) Director Tana Tage, the statement said on Friday.
Under the agreement, CESHS will join the project as a local partner with a 10% stake.
As a local stakeholder with strong grassroots presence, CESHS will support preliminary and exploratory survey work and assist in coordination with local communities and authorities to ensure the smooth conduct of exploration activities.
Officials said OIL's technical expertise in mineral and resource exploration, combined with CESHS's local knowledge and on-ground engagement, is expected to improve operational efficiency, strengthen stakeholder coordination and promote responsible and sustainable mineral development in the region.
The signing of the agreement is seen as a major milestone in India's critical minerals roadmap, aimed at enhancing resource security, boosting strategic self-reliance, supporting the energy transition, and contributing to overall development in Arunachal Pradesh.
Oil India Sees EPS Estimate Cut By HDFC Securities Even As 'Buy' Rating Retained — Check Target Price, UpsideWatch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.