Hindustan Copper Limited (HCL) and GAIL (India) Limited have taken a significant step towards strengthening India's critical mineral resources by signing a Memorandum of Understanding (MoU). This strategic partnership aims to combine the expertise of both companies in the exploration and development of critical mineral resources, with a particular focus on copper.

Key Highlights of the MoU

• Joint Participation: HCL and GAIL will collaborate in copper and critical minerals block auctions.
• Comprehensive Approach: The partnership covers development, operationalization of blocks for exploration and mining, as well as processing of minerals.
• Risk Sharing: Both companies will share risks across the value chain, enhancing their ability to tackle complex projects.
• Investment Collaboration: The MoU includes provisions for sharing investments and risks in the development, mining, and processing activities from HCL's existing assets.

Strategic Implications

This collaboration between Hindustan Copper, a leader in copper mining and production, and GAIL, India's largest natural gas company, represents a significant move in the critical minerals sector. By pooling their resources and expertise, the two state-owned enterprises are positioning themselves to play a crucial role in securing India's supply of critical minerals, which are essential for various high-tech and green technologies.

Industry Context

The partnership comes at a time when global demand for critical minerals is on the rise, driven by the growth in renewable energy technologies, electric vehicles, and advanced electronics. Copper, in particular, is a vital component in these industries, making this collaboration strategically important for India's industrial and technological growth.

Official Announcement

The MoU was officially disclosed by Hindustan Copper Limited in a filing to the stock exchanges, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Mritunjay Kumar Dev, Company Secretary & Compliance Officer of HCL, signed the regulatory filing.

This partnership between Hindustan Copper and GAIL marks a significant development in India's critical minerals sector, potentially enhancing the country's self-reliance in these crucial resources and supporting its growing technology and clean energy industries.

Hindustan Copper Limited (HCL), a prominent player in the Indian copper industry, has announced a significant change in its top leadership. RVN Vishweshwar has been appointed as the new Director (Finance) and Chief Financial Officer (CFO) of the company, effective July 29, 2025.

New Leadership at the Helm

Vishweshwar brings a wealth of experience to his new role at Hindustan Copper. Prior to this appointment, he served as the Executive Director (Corporate Finance & Treasury) at Indian Oil Corporation Limited (IOCL), one of India's largest commercial enterprises.

Extensive Experience and Qualifications

With over 32 years of experience in the finance sector, Vishweshwar is well-equipped to take on this crucial role. His educational background includes:

• B.Com(Hons) degree
• Cost and Management Accountant (CMA) qualification
• Law degree (LLB)

Key Responsibilities at IOCL

During his tenure at IOCL, Vishweshwar was responsible for:

• Managing corporate finance and treasury operations
• Handling forex transactions, including spot and derivatives
• Overseeing overall cash flow management
• Coordinating the initial implementation of SAP ERP system
• Involvement in employee benefit trusts management

Board Experience and Industry Involvement

Vishweshwar's experience extends beyond his primary role:

• Served as a nominee director on the boards of five joint venture and subsidiary companies of IOCL
• Participated in the IFSCA Expert Committee on positioning GIFT IFSC as a Global Commodity Trading Hub
• Acted as the convenor of the Asset Monetization Industry Group (AMIG) under the Ministry of Petroleum and Natural Gas

Transition in Leadership

Vishweshwar's appointment comes as a replacement for Sanjiv Kumar Singh, who was holding the position of Director (Finance) and CFO as an additional charge. With Vishweshwar's joining, Singh will cease to hold these responsibilities.

Compliance and Disclosure

In compliance with SEBI regulations, Hindustan Copper has confirmed that Vishweshwar is not related to any members of the company's Board of Directors or Key Managerial Personnel. Additionally, he has not been debarred from holding the office of Director by SEBI or any other authority.

This strategic appointment is expected to bring fresh perspectives to Hindustan Copper's financial leadership, potentially influencing the company's financial strategies and performance in the coming years.