HCL, NTPC Mining sign MoU to jointly pursue copper, critical minerals projects

New Delhi: Hindustan Copper Ltd (HCL) and NTPC Mining Limited (NML) have signed a Memorandum of Understanding (MoU) on December 2 to collaborate in the mining of copper and critical minerals, in a strategic move aimed at strengthening India’s energy security and supporting future technologies.

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A post on HCL’s official X (formerly Twitter) account said, “A Memorandum of Understanding was signed between Hindustan Copper Ltd and NTPC Mining Limited today (02.12.2025) at HCL Corporate Office in Kolkata, to collaborate in the mining of copper, critical minerals and other areas of mutual interest — a partnership aligned with India’s resource security and future technologies.”​

The company also noted that the MoU signing event was attended by Sanjiv Kumar Singh, HCL CMD, Dr Sanjeev Kumar Sinha, Director (Operations) and Director (Mining), HCL, RVN Vishweshwar, Director (Finance), HCL, Shivam Srivastava, Director (Fuel), NTPC and Chairman, NTPC Mining Limited, Naveen Jain, CEO, NTPC Mining Ltd, Kiran Gosala, Deputy General Manager (Fuel Management), and Supreme Mukherjee, Senior Manager, Technical Services.​

Scope of the collaboration

Under the MoU, HCL and NTPC Mining will jointly participate in copper and critical minerals block auctions in India and abroad, and work together on exploration, mining, and mineral processing activities. The agreement enables both companies to assess opportunities for joint investments aimed at developing, mining, and processing minerals from HCL’s existing asset base, including its copper mines and associated deposits.​

"HCL has executed an MoU with NML on 02.12.2025 to jointly participate in copper, critical minerals block auctions, develop and operationalise blocks for exploration, mining and processing of minerals," said HCL in a regulatory filing to the stock exchanges.

The partnership also extends to evaluating potential collaboration across domestic and overseas copper and critical mineral projects, covering both current and future assets. "The objective of the MoU is to explore the possibility of joint investments for the development, mining and processing from existing assets of HCL and also to collaborate on existing and future domestic/overseas copper and critical minerals projects," the regulatory filing said.

Areas of mutual interest include mine planning, project development, and other aspects of mineral value chain development, with the aim of leveraging each other’s strengths in mining operations and project execution.​

Strategic context and critical minerals focus

Copper and critical minerals such as cobalt, nickel, Lithium, and rare earth elements are essential for India’s clean energy transition, electric vehicles, grid storage, and advanced electronics, making this partnership timely and crucial for national mineral security. The MoU aligns with the government’s push under the National Critical Mineral Mission (NCMM) to reduce import dependence and build a robust domestic value chain for strategic minerals.​

HCL, India’s only vertically integrated copper producer, has been actively forging alliances with other PSUs to expand its footprint in critical minerals. In recent months, it has signed similar MoUs with Coal India Ltd, RITES Ltd, GAIL (India) Ltd, and Oil India Ltd to jointly explore and develop mineral blocks, with scope to bring in international partners.​

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