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Hindustan Copper signs joint venture agreement with NALCO, MECL

02 Aug 2019 Evaluate

Hindustan Copper has signed joint venture agreement with National Aluminum Company (NALCO) and Mineral Exploration Company (MECL) - CPSEs under Ministry of Mines – for constituting a JV company namely Khanij Bidesh India (KABIL).

The equity participation among NALCO, HCL and MECL is in the ratio of 40:30:30. The Authorized Capital of the JV Company is Rs 100 crore. The objective of the JV Company is to secure the strategic mineral interests of the Country.

The company is set up for identification, acquisition, exploration, development, mining and processing of strategic minerals overseas for commercial use and meeting country's requirement for these minerals.

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.

Peers
Company Name CMP
Hindalco Industries 942.30
Vedanta 258.90
Hindustan Zinc 565.30
Jain Resource Recycl 292.60
CMR Green Tech 225.00
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