NLC India (BOM:513683, NSE:NLCINDIA) signed a memorandum of understanding with IREL (India) to jointly develop critical mineral and rare earth element assets, according to a Tuesday filing to the Indian bourses.
The two state-owned firms plan to cooperate on mining, excavation, and refining of agreed-upon resources, both domestically and overseas. The move aligns with India's push to secure strategic mineral supplies through public sector acquisitions.
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