NLC India (NLCIL) has entered into a strategic partnership with IREL (India) to jointly explore and develop critical mineral assets, including rare earth elements (REE), both within India and abroad.

The collaboration was formalised through a memorandum of understanding (MoU) signed on May 6, 2025, aimed at fostering cooperation in mining, excavation, refining, and sourcing of raw materials tied to critical minerals. This move aligns with the broader policy direction from the Government of India (GoI), which has been actively encouraging public sector enterprises to acquire and develop critical mineral assets.

These minerals are essential to India’s technological advancement and energy security, playing a key role in sectors such as renewable energy, electric mobility, defence, and electronics. Through this MoU, NLCIL and IREL intend to identify and act upon mutually agreed opportunities to secure access to critical resources, not only by developing domestic assets but also through international acquisitions.

The initiative is part of a targeted effort by GoI to build a reliable and self-sufficient supply chain for strategic minerals, backed by distinct timelines for acquisition and development. The agreement underlines a shared vision to harness India's capabilities in the critical minerals space while contributing to the country’s larger goal of becoming a global manufacturing and energy hub.