Hindustan Copper has executed a joint venture agreement (JVA) on August 30, 2016 with Chhattisgarh Mineral Development Corporation (CMDC), a Government of Chhattisgarh enterprise, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.
As per the agreement, initially the joint venture company (JVC) would be formed with an authorized paid up capital of Rs 10 crore to meet the cost of exploration. Hindustan Copper will hold 74% stake in the JVC, while CMDC will be holding 26% stake.
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.
