Hind Copper could buy lithium reserves in South AmericaLithium acquisitions heating up, now hindus on the move too.
https://www.thehindubusinessline.com/companies/hind-copper-plans-to-buy-lithium-reserves-overseas-through-jv-arm/article27355736.ece Hind Copper plans to buy lithium reserves overseas through JV arm State-owned Hindustan Copper Ltd is eyeing acquisition of lithium reserves overseas. The acquisition will be made through its joint venture arm, Khanij Bidesh India Ltd (KABIL).
KABIL is a joint venture between three central public sector undertakings-- National Aluminium Company (Nalco) with 34 per cent stake and Mineral Exploration Corporation Ltd (MECL) and Hindustan Copper Ltd (HCL) having a 33 per cent stake each. It has an equity share capital of 100 crore.
According to Santosh Sharma, CMD, HCL, the JV has already scouted some destinations overseas including Chile, Peru and Bolivia. The reserves are likely to be acquired within the next six months.
Strategic minerals
“The JV will be signed over the next one month and we will look at acquisition of reserves over the next six months through KABIL. The JV has already been to places like Chile, Peru and Bolivia,” he said during a press meet.
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