MOU signed with Oil India, KABIL and OVL to collaborate on critical minerals
September 10, 2024 – International Resources Holding (IRH), the dynamic natural resources extractive subsidiary of 2PointZero, is pleased to announce the signing of a historic Strategic Alliance with Oil India Limited (“Oil India”), Khanji Bidesh India Limited (“KABIL”) and ONGC Videsh Limited (“OVL”) to collaborate across the supply chain of critical minerals.
This pivotal agreement was formalized today at the UAE-India Business Forum in Mumbai, by Her Excellency Mariam Almheiri, CEO of 2PointZero; Dr Ranjit Rath, Chairman and Managing Director of Oil India; Sadashiv Samantaray, CEO of KABIL; and Rajarshi Gupta, Managing Director of OVL.
Highlights:
- The partnership will see IRH, Oil India, KABIL and OVL combine their expertise to identify, acquire or develop assets on a global scale, including within India.
- The landmark MoU represents a significant advancement in IRH’s strategic approach to critical mineral extraction and sets a new benchmark for excellence in mining operation.
- IRH’s collaborative efforts, in partnership with BMRC International and IRH Global Trading, are strategically designed to enhance UAE-India public-private partnerships and drive cutting-edge innovation within the mining sector.
- By integrating respective expertise and resources, the Partnership is not only poised to achieve groundbreaking advancements but also redefine industry standards in sustainable mineral extraction. This partnership underscores IRH’s commitment to advancing a knowledge-based economy and creating opportunities for new business across priority sectors.
H.E. Mariam bint Mohammed Almheiri, CEO of 2PointZero, commented:
“Today marks a significant milestone in our journey towards global mining innovation and sustainable mineral supply chains. Our strategic alliance with Oil India, KABIL, and OVL embodies a new era of international cooperation. This landmark agreement, formalized at the UAE-India Business Forum, sets a new benchmark for excellence in critical mineral excavation and redefines industry standards from mine to markets. By combining our expertise with BMRC International and IRH Global Trading, we are not only advancing UAE-India public-private partnerships but also paving the way for groundbreaking advancements and sustainable practices in the mining sector. This partnership is a testament to our commitment to foster a knowledge-based economy and unlock new business opportunities across critical sectors.”
About IRH:
IRH is a dynamic natural resource extractive company with a diverse metals and minerals portfolio operating in the entire mining value chain. IRH undertakes upstream, midstream, and downstream processes and markets its products and minerals globally. It currently has
operations or prospects in Africa, Latin America, and beyond, along with its subsidiaries, providing mine to a market ecosystem.
About OIL
OIL, a Maharatna PSU under the aegis of the Ministry of Petroleum & Natural Gas, is a premier integrated oil & gas company possessing significant and proven expertise and resources in the exploration, development, production and transportation of crude oil and natural gas. OIL is currently carrying out domestic E&P activities in a total of 63 nos. of operated acreages, including 29 OALP Blocks and 3 Discovered Small field (DSF) blocks. The total operating acreages cover an area of 62923 sq km. These include both onshore and offshore blocks, wherein committed exploration programs are underway for Mahanadi Basin Onshore, Krishna Godavari Basin Onshore, Andaman Basin Offshore and Kerala Konkan Basin Offshore. Internationally, OIL has stakes in 10 E&P assets spread over seven countries.
About Khanij Bidesh India Limited (KABIL)
Khanij Bidesh India Limited is a Joint Venture Company incorporated on 08.08.2019 under the Companies Act 2013 by the three Government Enterprises: National Aluminium Company Ltd. (NALCO), Hindustan Copper Limited (HCL) and Mineral Exploration & Consultancy Limited (MECL), under the aegis of Ministry of Mines, Government of India, formed to ensure supply side assurance of critical and strategic minerals and mineral security of the nation.
About BMRC International Geological LLC
BMRC International Geological LLC is a subsidiary of IRH, providing professional mining consulting services led by JORC | NI-43-101 | SK-1300 Compliant Personnel, spanning over 28+ commodities over six continents and 40 countries, covering Exploration, Geological Modelling, Mineral Resource and Mineral Reserve Estimation, Metallurgy, Geotechnical, Mine Planning and Mine Management, and Mine Development. IRH Global Trading Ltd is a subsidiary of IRH and is the trading arm of the Group.
About IRH Global Trading Ltd
IRH Global Trading Ltd markets and trades the production from IRH’s portfolio of mining assets as well as from third-party producers. The Company trades a wide range of commodities such as base metals, iron ore and steel raw materials, and new energy raw materials, connecting production at origin to the global end markets and playing a part in enabling the transition to a clean energy world
For more information, please contact: Tavistock Communications
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