Hindalco Signs MoU for 60% of Copper Produced by Hindustan Copper
Hindalco industries has signed an MoU with Hindustan Copper Ltd. (HCL) for long-term purchase and sale of Copper concentrate produced by HCL. Hindalco Industries shall procure 60% of Copper concentrate from the Hindustan Copper.
Hindalco is the largest refined Copper producer in India. It currently imports large quantity of Copper concentrate from global mining companies which is expected to decrease after this agreement