Hindustan Copper Contracts Lohum for Gujarat Plant Revival

Hindustan Copper Ltd's board approves contract with Lohum Materials to restart Gujarat Copper Plant. The 20-year agreement might extend by five years. A tie-up with Engineers India Ltd aims to enhance copper exploration and processing projects in multiple Indian states.

Hindustan Copper Ltd has greenlit a contract to Lohum Materials Pvt Ltd for reviving operations at their Gujarat Copper Plant. Implemented under a 'Revenue Sharing Model', this deal initially stretches over two decades, with a potential extension of five years.

Additionally, Hindustan Copper intends to engage Engineers India Ltd to provide a slew of technical and project services. This collaboration, solidified by an upcoming Memorandum of Understanding, seeks joint efforts in exploration, engineering, design, and compliance within copper mining and processing.

By partnering with Engineers India, Hindustan Copper aspires to enhance domestic metal production capabilities, aligning with government goals to ensure essential mineral reserves. This initiative is vital for meeting the increased demand for copper across various industries like power, construction, and electric vehicles.