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HomeMarket NewsStocks NewsHindustan Copper, RITES sign MoU to jointly pursue critical mineral mining projects
On Friday (June 7), shares of Hindustan Copper Ltd ended at ₹255.95, up by ₹1.90, or 0.75%, on the BSE.
State-owned Hindustan Copper Ltd (HCL) on Saturday (June 7) said it has signed a Memorandum of Understanding (MoU) with RITES Ltd on June 6 to collaborate on developing a rapid, reliable, and sustainable supply chain for metals and minerals, including critical minerals.
"Hindustan Copper Ltd has executed an MoU with Rites Limited on 06.06.2025 to secure a rapid, reliable and sustainable supply chain of metals and minerals, including critical minerals," according to a stock exchange filing.
Also Read: Hindustan Copper Q2 Results | Net profit soars 68%, revenue climbs 36%
According to a regulatory filing, the MoU aims to facilitate joint participation in copper and critical mineral block auctions, as well as the development and operationalisation of such blocks for exploration, mining, and transportation. The agreement also includes provisions to share risks associated with these ventures.
Both state-run companies will decide on financial arrangements on a project-by-project basis, depending on the nature and scale of each initiative. The MoU, however, is non-binding and does not constitute a legally enforceable relationship between the parties.
On Friday (June 7), shares of Hindustan Copper Ltd ended at ₹255.95, up by ₹1.90, or 0.75%, on the BSE.
Also Read: Hindustan Copper Q4 net profit jumps 53% to ₹1.9 crore, revenue up 29%
