Indian business entities including Khanij Bidesh India (KABIL), Oil India (OIL), ONGC Videsh (OVL) has signed a significant Memorandum of Understanding (MoU) with International Resources Holdings RSC (IRH) of UAE, marking a pivotal step in global cooperation on the critical mineral supply chain. Key aspects of the MoU include joint project identification, due diligence, risk management strategies, and the development of a long-term offtake strategy.
The MoU underscores a commitment to leveraging each party's expertise, resources, and networks to achieve operational excellence and ensure a stable supply of essential energy minerals. This partnership also aims to further foster collaboration in the identification, acquisition, and development of critical mineral projects.
CMD NALCO & Chairman, KABIL expressed his happiness about the collaboration with UAE and said: This a significant milestone in our efforts to strengthen the global critical mineral supply chain and ensuring a sustainable future for the country which will contribute to Atmanirbhar Bharat.
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