Oil India (OIL) has signed a Memorandum of Understanding (MoU) with Khanij Bidesh India (KABIL), a Joint Venture of National Aluminium Company (NALCO), Hindustan Copper (HCL) and Mineral Exploration & Consultancy (MECL), under the aegis of Ministry of Mines, Government of India to collaborate for opportunities in critical mineral assets overseas.
The MoU is foreseen to enable the two companies to combine their technical expertise and financial resources, to pursue acquisition of overseas critical mineral assets towards mineral security of the country.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
