Hindustan Copper signs an agreement with Hindalco for copper sale
Hindustan Copper Ltd. (HCL) has signed an MoU with Hindalco for long-term sale of copper concentrate produced by HCL to Hindalco
Under this MoU, Hindalco will use about 60% of copper concentrate produced by HCL
New Delhi: Hindustan Copper Limited (HCL), a Miniratna PSU under the Ministry of Mines, on Friday said that it has signed a memorandum of understanding (MoU) with Hindalco Industries Limited (Hindalco) for copper sale on September 17. This MoU aims a long-term sale of copper concentrate produced by HCL to Hindalco. Under this MoU, around 60 percent (copper content) of HCL's current copper concentrate production will be utilized by Hindalco in the manufacture of refined copper. This information has been shared by the Mining PSU during a regulatory filing to the stock exchange on Friday.
This partnership between HCL and Hindalco will go a long way in building the domestic copper industry by ensuring efficient utilization of the country's mineral resources in a sustainable manner. With this partnership, HCl will be taking' a step towards assuring the supply of raw material to the Indigenous copper manufacturers. This will also fulfil the country's mission of 'Make in India' and 'AatmaNirbhar Bharat Abhiyaan.'
Hindustan Copper Limited (HCL)
Hindustan Copper Limited (HLC) is a PSU under the Ministry of Mines. HCL is the only vertically integrated copper producer in India engaged in a wide spectrum of activities ranging from Mining, Beneficiation, Smelting, Refining and Continuous Cast Rod manufacturer. HCL shares are listed at Mumbai, Delhi, Calcutta, Chennai, Ahmedabad exchanges. Hindalco is India's largest custom copper producer, currently contributing to over 50 percent of India's domestic refined copper requirements. The company operates Asia's biggest single-location custom copper
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