Hindustan Copper looking at technical tie-up with Chile’s Codelco

PTI Updated - May 20, 2011 at 05:47 PM.

State-run Hindustan Copper may forge a technical tie-up with Chile’s government-owned copper producer Codelco for the development of its Malanjkhand mine in Madhya Pradesh.

“Codelco is going for underground mining in Chuquicamata open mine. HCL may tie up with Codelco for development of underground mine in Malanjkhand,” a senior mines ministry official said on Friday.

The two companies had a discussion recently in Chile, where a senior HCL official was a part of the delegation led by Mines Minister Mr Dinsha Patel.

“Codelco has a very good technical and technological know-how in copper sector, even better than those in Australia and Canada,” the official said.

Codelco is mining low-grade ore, and India has also a number of small low-grade prospects, he said, adding that a technological cooperation may help us to develop these low-grade prospects into economically viable ventures.

The official said a majority of the copper mining companies in Chile were not financially strong to explore and exploit the deposits to their potential.

“They are very keen on inking joint ventures or even sell their prospects. They are ready to share information with HCL.

HCL has asked them to send the information. On receipt of information from potential miners, further action will be initiated by HCL,” he said.

Malanjkhand copper deposit is the single largest in India with nearly 70 per cent of the country’s reserves. It contributes around 80 per cent to HCL’s total production.

Copper is mined in Malanjkhand project, established in 1982, through open pit process at present.

Published on May 20, 2011 12:16