Hindustan Copper Secures Chile Deal to Meet India's Growing Copper Demand

Hindustan Copper is planning to sell copper concentrate from mines it's acquiring in Chile to Indian producers, including Hindalco Industries and Adani. The state-run miner is also discussing a potential joint venture with Codelco to mine and sell the metal.

The move comes as India seeks to secure overseas copper resources to meet its growing demand. According to Reuters, India currently produces around 573,000 metric tonnes of refined copper per year against a demand of about 1.8 million tonnes.

Hindustan Copper is in discussions with Codelco to acquire four copper mining blocks and has signed a preliminary agreement to explore opportunities in exploration and mining. The company also appointed an adviser for the proposed transaction.