New Delhi: Engineering firm RITES Ltd on Friday said it has signed an agreement with Hindustan Copper Limited (HCL) to jointly develop the supply chain for metals and minerals, including critical minerals, both in the domestic market and overseas.
The partnership will focus on exploration, extraction, refining, and production activities in India and abroad. The collaboration includes participation in mineral block auctions and the development of mining infrastructure.
As part of the Memorandum of Understanding (MoU), RITES will provide consultancy and logistics solutions, including project planning, transport infrastructure development, multimodal transport planning, and rolling stock support, to strengthen the mining operations of Hindustan Copper.
"This strategic partnership aims to build an integrated, self-reliant mineral value chain that supports India's critical mineral security, fosters sustainable growth, and strengthens the nation's economic resilience," the company said in a statement.
Hindustan Copper Ltd is a vertically integrated government-owned copper producer under the mines ministry. It is engaged in the full spectrum of copper production, from mining and beneficiation to smelting, refining, and manufacturing copper wire rods.
HCL's facilities are located in various states, including Madhya Pradesh, Rajasthan, Jharkhand, Gujarat and Maharashtra.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)