India-UAE Memorandum of Understanding on Critical Minerals

A consortium comprising of Oil India Limited (OIL), ONGC Videsh Limited (OVL) and Khanij Bidesh India Limited (KABIL) signed a Memorandum of Understanding (MoU) with International Resources Holding (IRH) of the United Arab Emirates to collaborate on critical mineral supply chains. The MoU provides a framework for cooperation on critical minerals exploration in third countries, with the objective of strengthening supply chain resilience and securing access to critical minerals. Areas of cooperation include project identification, joint due diligence, collaboration on risk management strategies and the development of long-term offtake arrangements.

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