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Hindalco to acquire copper mines aboard

Hindalco Industries Ltd, a flagship company of the AV Birla Group, is bullish on copper sector plans to acquire copper mines abroad.

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KOLKATA: Hindalco Industries Ltd, a flagship company of the AV Birla Group, is bullish on copper sector plans to acquire copper mines abroad to increase captive mining capacity to 60 per cent from 40 per cent at present.

"We are looking at acquiring copper mines in developing countries to increase our captive mining capacity to 60 per cent," Hindalco Managing Director D Bhattacharya said on Friday on the sidelines of a national HRD meet.
 
When asked in which geographical locations it was aiming for such prospects, Bhattacharya said the company was looking at South American countries.
   
"It may be Colombia, Peru or Argentina," he said.

Hindalco owns the country's largest copper smelting and refining plant at Dahej, Gujarat, with two copper mines in Australia and boasts of having smelting and refining capacity of 5,00,000 tpa, the largest single location smelter in the world.
   
Hindalco, was also eyeing reserves of good-quality bauxite ore, but Bhattacharya did not elaborate.

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