Hindustan Copper Limited, a Miniratna Category-I Company under the administrative control of the Ministry of Mines, Govt. of India, has recently signed a joint venture agreement with Chhattisgarh Mineral Development Corp. Ltd, PSE of State Government of Chhattisgarh.
The joint venture company will undertake exploration and mining of copper ore in Chhattisgarh. The JV agreement was signed by Mr. KD Diwan, Chairman cum Managing Director on behalf of Hindustan Copper Ltd. and Ms. Reena Kangale, IAS, Managing Director, of behalf of CMDC Ltd. In the JV Company, Equity shareholding of HCL is 74% and CMDC is 26%.
The signing of JV was witnessed by Senior Officers of Hindustan Copper and CMDC Ltd that included Mr SK Bhattacharya, Director (Mining) and Mr. ON Tiwari, Executive Director, Malanjkhand Copper Project.