Hindustan Copper signs MoU with Hindalco for supply of copper concentrate

Government-owned Hindustan Copper Ltd said on Friday it has signed a memorandum of understanding for long-term sale of copper concentrate to Hindalco Industries, the metals flagship company of Aditya Birla Group.

Government-owned Hindustan Copper Ltd said on Friday it has signed a memorandum of understanding for the long-term sale of copper concentrate to Hindalco Industries, the metals flagship company of Aditya Birla Group. Hindustan Copper is the only producer of copper concentrate in India. Under the MoU, about 60 percent of its copper content will be utilized by Hindalco in manufacturing refined copper.

Hindalco's copper is used by key industries like power, electronics, railways, and construction. "The partnership will go a long way in building the domestic copper industry by ensuring efficient utilization of the country's mineral resources sustainably," said Arun Kumar Shukla, Chairman and Managing Director of Hindustan Copper.

"With this partnership, Hindustan Copper will be taking a step towards assuring the supply of raw material to indigenous copper manufacturers. This will also fulfill the country's mission of Make in India and AatmaNirbhar Bharat Abhiyan," he said in a statement. Satish Pai, Managing Director of Hindalco Industries, said the will help in utilizing locally-mined copper concentrate for domestic production of refined copper and reduce the country's dependence on the import of a critical metal.

"It adds strategic value to Hindalco's value chain and empowers us to offer a more reliable supply of copper products to feed diverse copper downstream sectors in India. This is an excellent example of a public-private partnership creating a win-win solution for both the organizations," he said.

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