Hindustan Copper Eyes Expansion in Critical Minerals Sector with New Coal India Partnership

Hindustan Copper Ltd has partnered with Coal India Ltd to explore opportunities in the copper and critical mineral sectors. The agreement is non-binding and reflects HCL's ambitions to diversify by bidding for critical mineral and rare earth element blocks, potentially partnering with public sector units for strategic bids.

State-owned Hindustan Copper Ltd (HCL) announced its new partnership with Coal India Ltd to explore opportunities in the copper and critical mineral sectors. This move aligns with HCL's diversification strategy.

The Memorandum of Understanding (MoU) between HCL and CIL, although non-binding, aims to tap into global partnerships in critical minerals and copper. HCL's chairman, Sanjiv Kumar Singh, emphasized the potential for collaboration with public sector units.

HCL aims to bid for blocks related to critical minerals and rare earth elements, enhancing its expansion strategy. This step could significantly impact the company's profitability and growth in non-traditional sectors.

(With inputs from agencies.)