Hindustan Copper Ltd’s board has also approved increase in borrowing limits from consortium or banks up to an aggregate of Rs650 crore. Photo: Indranil Bhoumik/MintKolkata: Hindustan Copper Ltd (HCL) has obtained approval from its board of directors to form a joint venture (JV) company with Mineral Exploration Corp. Ltd (MECL) and Nalco Ltd. The JV would help in the formation of a joint working group, which would be empowered to deal with government-to-government (G2G) deals relating to sourcing of rare minerals. “We have got the board nod to form a JV with MECL and Nalco. Sharma said this was a part of HCL’s diversification process for sourcing rare minerals like titanium.

Source: Mint November 11, 2017 11:26 UTC