OIL, IREL Ink Pact To Boost Critical Mineral Development

08 Aug 2025 CW Team

In a strategic move to enhance India’s self-reliance in sourcing critical minerals, Oil India Limited (OIL) and IREL (India) Limited signed a Memorandum of Understanding (MoU) on 7 August 2025 in Mumbai. The agreement sets the stage for cooperation in the development of critical minerals vital to energy security and technological growth.

Oil India, a Maharatna public sector enterprise under the Ministry of Petroleum and Natural Gas, is a leading integrated oil and gas company with expertise in exploration, development, production, and transportation of crude oil and natural gas. In light of the rising importance of critical minerals, the company has begun diversifying into this domain beyond its traditional oil and gas portfolio.

IREL, a Miniratna public sector undertaking under the Department of Atomic Energy, specialises in the mining and processing of mineral sands, including the extraction and refining of rare earth elements.

This collaboration between OIL and IREL is a crucial milestone under the National Critical Mineral Mission, designed to secure essential strategic resources. The partnership is expected to significantly contribute to India's goal of achieving self-reliance in critical mineral and rare earth element supply chains.

The MoU was formally signed by Mr Ranjan Goswami, Executive Director (Business Development) of Oil India, and Mr Ravi Prakash Jha, General Manager (Projects) of IREL. The event was witnessed by Dr Ranjit Rath, Chairman and Managing Director of Oil India, and Mr Sarada Bhushan Mohanty, Chairman and Managing Director of IREL, along with senior officials from both organisations.

This joint effort reinforces India’s commitment to reducing import dependency and building robust domestic capabilities in strategic mineral development.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..