Mumbai : Private sector copper producer Hindalco Industries has signed a Memorandum of Understanding (MoU) with Public sector copper producer Hindustan Copper Limited (HCL) for sourcing of Copper Concentrate.
Under this MoU, around 60% (copper content) of HCL’s current copper concentrate production will be utilised by Hindalco in the manufacture of refined copper.
Copper Ores extracted from mines are beneficiated to make Copper Concentrates. The concentration process involves grinding mined ore to roughly separate copper from waste rock. The Concentrates subsequently pass through the smelting and refining stages to produce Copper.
“ This agreement is a major step forward towards AatmaNirbhar Bharat as it will help in utilising locally mined copper concentrate for domestic production of refined copper and it reduces the nation’s dependence on import of a critical metal” Mr. Satish Pai, MD, Hindalco Industries Ltd., said.
“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 organisations,” Mr. Pai added.
While Hindalco is the largest producer of custom Copper in India, Hindustan Copper Ltd. is the only producer of copper concentrate in India. Earlier, Hindalco was depending upon imports for its copper concentrate requirement.
The MoU was signed by Mr. Arun Kumar Shukla, Chairman and Managing Director of Hindustan Copper Ltd., and Mr. Satish Pai, Managing Director of Hindalco Industries Ltd.
Hindalco is India’s largest custom copper producer, currently contributing to over 50% of India’s domestic refined copper requirements. Hindalco’s copper products are used in India’s core infrastructural sectors, including power, construction, automobiles, railways, etc. Hindalco operates Asia’s biggest single-location custom Copper Smelter at Dahej in Gujarat.