Hindustan Copper Limited has addressed recent media reports regarding a potential joint venture with the Chilean copper producer CODELCO. The company confirmed that while it shares a strategic cooperation agreement, there are no ongoing negotiations to form a formal joint venture company at this stage. Both firms are currently evaluating geophysical exploration data, and any significant future developments regarding potential asset exploitation will be disclosed to the markets accordingly.
Strategic Cooperation with CODELCO
In response to recent market speculation, Hindustan Copper Limited (HCL) has clarified the status of its relationship with Corporacion Nacional Del Cobre De Chile (CODELCO). The two entities entered into an agreement on April 1, 2025, aimed at fostering cooperation and the exchange of information in mining exploration, beneficiation, and technical knowledge sharing. This partnership supports broader objectives to enhance technical capabilities across both organizations.
Evaluation of Exploration Data
Following the signing of the agreement, a team of technical experts from CODELCO conducted site visits to HCL’s key copper mining operations in Rajasthan, Madhya Pradesh, and Jharkhand during June-July 2025. As part of this ongoing collaboration, CODELCO has shared specific geophysical exploration data for several blocks in Chile. HCL is currently in the process of assessing this information to determine the viability of potential joint exploration projects.
Status of Joint Venture
HCL explicitly stated that there are no active negotiations concerning the formation of a joint venture company. While the companies have discussed exploring assets, any future commitment to exploit these resources would be subject to further negotiation under the Chilean Mining Code and existing collaborative frameworks. The company maintains that it has no undisclosed information that would account for recent movements in its share trading.
Source: BSE
