RITES Limited has informed the Exchange regarding a press release titled "RITES & HCL sign MoU to develop critical mineral supply chain" dated June 06, 2025.
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RITES Limited signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL) on June 6, 2025, to jointly develop a supply chain for metals and minerals, including critical minerals, in India and overseas. The collaboration will focus on exploration, extraction, refining, and production activities, as well as participation in mineral block auctions and development of mining infrastructure. Under the MoU, RITES will provide end-to-end consultancy and logistics solutions, including project planning, transport infrastructure development, multimodal transport planning, and rolling stock support to strengthen HCL's mining operations. The MoU was signed in New Delhi in the presence of the Hon'ble Minister of Mines, Mr. G. Kishan Reddy. No financial details, deal value, or timelines have been disclosed at this stage.
This is a non-binding MoU with no immediate financial impact, but it signals RITES' strategic push into India's critical minerals sector — a high-priority area for the government. If executed well, it could open new revenue streams beyond RITES' traditional transport consultancy business and may be viewed positively by investors looking at diversification.