Please refer the attachment.
Awaiting price reaction for this filing.
NLC India Limited (NLCIL), a Navratna PSU, has signed a Memorandum of Understanding with IREL (India) Limited on 6 May 2025. The MoU covers cooperation and collaboration for the development of critical mineral assets, including Rare Earth Elements (REE), through mining, excavation, and refining activities. Both companies will work together to identify and acquire critical mineral assets, either domestically or internationally, and also source raw materials from these sources. The move aligns with the Government of India's push for public sector enterprises to acquire critical mineral assets with defined timelines, given the strategic importance of these resources.
This partnership positions NLCIL in the high-growth critical minerals and rare earth space, which is strategically important for India. While an MoU is preliminary and non-binding, successful execution could open new revenue streams and reduce import dependence, potentially being viewed positively by investors. Near-term stock impact is likely muted as no financial commitments or timelines have been disclosed.