Hindustan Copper In Talks With National Aluminium To Sell 2 Mines – Report

Feb 21, 2011 15:18

MUMBAI, Feb 20, 2011 (Dow Jones Commodities News via Comtex) -- Hindustan Copper Ltd. (513599.BY) is in talks to sell stakes in two copper mines to state-owned National Aluminium Co. Ltd. (532234.BY), the Economic Times reported Monday.

"We have held talks with Nalco [National Aluminium Co.], which has offered to invest in our mines in Madhya Pradesh and Rajasthan. But the discussions are at a preliminary stage," Hindustan Copper Chairman Shakeel Ahmed said in the report.

The stake sale will be aimed at raising money to part-finance Hindustan Copper's expansion plans, which are estimated to cost INR40 billion, the report said.

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Hindustan Copper In Talks With National Aluminium To Sell 2 Mines – Report

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