Hindustan Copper To Sell Chile Mine Output To Hindalco And Adani
COAL & MINING

Hindustan Copper To Sell Chile Mine Output To Hindalco And Adani

Hindustan Copper plans to sell copper concentrate produced by mines it is acquiring from Chile's Codelco to Hindalco and Adani, two sources familiar with the matter said. The state-run miner is exploring a joint venture with the Chilean state miner to mine and market copper as India seeks to secure long term supplies of the metal. Discussions remain at an early stage and participants are treating deliberations as confidential.

The company, together with Coal India and NTPC Mining, is in talks to secure four copper mining blocks from Codelco, the mines secretary said in April, and due diligence is under way. Hindustan Copper signed a preliminary agreement with Codelco last year and in May executed a non disclosure agreement and appointed a deal adviser. The firm did not provide comment to Reuters and has previously denied it was in joint venture talks.

According to two of the sources, technical teams from Hindustan Copper, NTPC Mining and Coal India visited Chile earlier this year to assess prospects, but commercial output remains distant and it could still take a decade before mining begins and concentrate is produced. The government is seeking to include a chapter on copper in free trade talks with Chile to secure an assured quantity of concentrate. Partner selection and commercial planning are ongoing. Officials plan to evaluate technical, environmental and commercial feasibility closely before firm commitments.

India, the world's second largest refined copper importer, may have to import 91 per cent to 97 per cent of its copper concentrates by 2047, the government has said. Domestic refined output is estimated at 573,000 t annually while demand is around 1.8 million (mn) t, underlining the gap the state intends to narrow through overseas assets and partnerships. Hindalco and Adani are among the largest potential domestic buyers of concentrate.

Hindustan Copper plans to sell copper concentrate produced by mines it is acquiring from Chile's Codelco to Hindalco and Adani, two sources familiar with the matter said. The state-run miner is exploring a joint venture with the Chilean state miner to mine and market copper as India seeks to secure long term supplies of the metal. Discussions remain at an early stage and participants are treating deliberations as confidential. The company, together with Coal India and NTPC Mining, is in talks to secure four copper mining blocks from Codelco, the mines secretary said in April, and due diligence is under way. Hindustan Copper signed a preliminary agreement with Codelco last year and in May executed a non disclosure agreement and appointed a deal adviser. The firm did not provide comment to Reuters and has previously denied it was in joint venture talks. According to two of the sources, technical teams from Hindustan Copper, NTPC Mining and Coal India visited Chile earlier this year to assess prospects, but commercial output remains distant and it could still take a decade before mining begins and concentrate is produced. The government is seeking to include a chapter on copper in free trade talks with Chile to secure an assured quantity of concentrate. Partner selection and commercial planning are ongoing. Officials plan to evaluate technical, environmental and commercial feasibility closely before firm commitments. India, the world's second largest refined copper importer, may have to import 91 per cent to 97 per cent of its copper concentrates by 2047, the government has said. Domestic refined output is estimated at 573,000 t annually while demand is around 1.8 million (mn) t, underlining the gap the state intends to narrow through overseas assets and partnerships. Hindalco and Adani are among the largest potential domestic buyers of concentrate.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code