RITES & HCL sign MoU to develop 'critical' mineral supply chain

RITES Ltd., the leading Transport Infrastructure Consultancy and Engineering firm, today signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL), a CPSE under the Ministry of Mines, to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas.

The partnership will focus on exploration, extraction, refining, and production activities in India and overseas, leveraging the technical and financial strengths of both organisations. The collaboration includes participation in mineral block auctions and development of mining infrastructure.

As part of 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.

This strategic partnership aims to build an integrated, self-reliant mineral value chain that supports India's critical mineral security, fosters sustainable growth, and strengthens the nation's economic resilience.

Shares of RITES Limited was last trading in BSE at Rs. 300.05 as compared to the previous close of Rs. 309.20. The total number of shares traded during the day was 341397 in over 7223 trades.

The stock hit an intraday high of Rs. 309.20 and intraday low of 298.00. The net turnover during the day was Rs. 102615202.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 MoU HindustanCopper