Hindustan Copper (HCL) has obtained approval from its board of directors to form a joint venture (JV) company with Mineral Exploration Corporation (MECL) and NALCO. The JV would help in the formation of a joint working group, which would be empowered to deal with government-to-government (G2G) deals relating to sourcing of rare minerals. The JV would take shape of a new company, namely Khanij Bidesh India (KABIL), which will have an authorized and paid-up capital of Rs 100 crore and Rs 30 crore respectively.
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.
