Hindustan Copper has received its board’s approval to form Joint Venture Company (JVC) with Chhattisgarh Mineral Development Corporation (CMDC), a Government of Chhattisgarh Enterprise. In this regard the company will invest Rs 10 crore in the equity capital of JVC to explore and develop new copper mines in the State of Chattisgarh.
The Board also authorized CMD, HCL to take all requisite actions for formation of JVC with CMDC. The company’s board gave its approval for the same in its meeting held on April 8, 2015.
Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.