State-run Hindustan Copper is likely to forge a technical tie-up with Chile’s government-owned copper producer Codelco for the development of its Malanjkhand mine in Madhya Pradesh. Codelco is going for underground mining in Chuquicamata open mine.
Recently both the companies had a discussion in Chile. Codelco has a very good technical and technological know-how in copper sector, even better than those in Australia and Canada. Codelco is mining low-grade ore, and India has also a number of small low-grade prospects, adding that a technological cooperation may help the company to develop these low-grade prospects into economically viable ventures.
HCL has asked Codelco to send the information. On receipt of information from potential miners, further action will be initiated by HCL. Malanjkhand copper deposit is the single largest in India with nearly 70% of the country’s reserves. It contributes around 80% to HCL’s total production.
Copper is mined in Malanjkhand project, established in 1982, through open pit process at present.
Company Name | CMP |
---|---|
Hindalco | 705.70 |
Vedanta | 454.40 |
Hindustan Zinc | 711.90 |
Gravita India | 1127.05 |
Ram Ratna Wires | 368.75 |
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