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Coal India Limited (CIL) and IREL (India) Limited signed a non-binding Memorandum of Understanding (MoU) to collaborate on the development of critical minerals. This partnership aims to foster the development of critical minerals such as mineral sands and rare earth elements (REE). The two companies will join forces to acquire assets, source raw materials from domestic and international markets, and establish mining, extraction, and refining capabilities. The collaboration is part of CIL鈥檚 strategy to reduce India鈥檚 dependence on imports of critical minerals, including lithium and cobalt. CIL鈥檚 Chairman, P M Prasad, has previously stressed the need for securing these mineral assets to support India鈥檚 clean energy goals. The Indian government鈥檚 Union Budget for 2024-25 announced the Critical Mineral Mission, which focuses on expanding domestic production, recycling, and incentivising asset acquisition. India is among the few countries capable of producing rare earth elements, and IREL aims for self-sufficiency in mining, processing, and refining these essential minerals. However, the development of critical minerals also raises environmental concerns due to the significant water usage and potential for air pollution during refining and processing.