A joint venture agreement has been signed by the Hindustan Copper with Chhattisgarh Mineral Development Corporation (CMDC) for exploration, mining and beneficiation of copper and associated minerals.

Hindustan Copper has said in a BSE filing that it “has executed a Joint Venture (JV) agreement on August 30, 2016 with Chhattisgarh Mineral Development Corporation Ltd, a Government of Chhattisgarh enterprise, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.”

It has said further that “Initially the JV company would be formed with an authorised paid up capital of Rs 10 crore to meet the cost of exploration.”

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