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Hindalco Industries inks MoU with HCL for copper concentrate

Friday, 18 Sep 2020
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Hindalco Industries and state-owned Hindustan Copper (HCL) have signed a memorandum of understanding (MoU) for long-term purchase and sale of copper concentrate produced by HCL.

With this partnership, the companies have moved towards import substitution, reducing the nation’s dependence on copper concentrate sourced from abroad.

The agreement will help in utilising locally mined copper concentrate for domestic production of refined copper. HCL is the only producer of copper concentrate in India.

Under the MoU, around 60 percent (copper content) of HCL’s current copper concentrate production will be utilised by Hindalco in the manufacture of refined copper.

Hindalco’s copper finds application in key industries, such as power, electronics, railways and construction.

Hindalco operates Asia’s biggest single-location custom copper smelter at Dahej in Gujarat.

 
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