Hindustan Copper sell stake in mines to NALCO

DJ reported that Hindustan Copper Limited is in talks to sell stakes in 2 copper mines to state owned National Aluminum Company Limited.

Mr Shakeel Ahmed chairman of Hindustan Copper said that "We have held talks with Nalco which has offered to invest in our mines in Madhya Pradesh and Rajasthan. But the discussions are at a preliminary stage."

He said that the stake sale will be aimed at raising money to part finance Hindustan Copper's expansion plans which are estimated to cost INR 40 billion.

（Sourced from Dow Jones）