Hindalco Industries Ltd plans to acquire copper mine in developing countries

Bombay, Dec 4 -- India Adiyta Birla Group’s flagship company -- Hindalco Industries Ltd plans to acquire copper mine in developing countries to raise copper core capacity ratio from 40% to 60%. Debu Bhattacharya said on the side of 11th National Conference on National HRD Network in India, the company is considering raising copper core capacity ration from 40% to 60% to reach the company’s requirement. Besides, Hindalco plans to acquire copper mine in developing countries. He notes that Hindalco is evaluating the copper mine worldwide, especially in developing countries, such as Argentina, Peru, Columbia. Bhattacharya revealed that the company also plans to acquire Indian high-grade bauxite projects. Hindalco possesses large complex consist of bauxite mine, alumina refinery, stream power station and aluminum smelter. The factory in Renukoot, Uttar Pradesh also produces semi-products and value-added products. Hindalco Industries develop joint venture to ensure the supply of caustic soda and aluminum fluoride. It targets to realize self-sufficiency in major materials. When asked about aluminum price, Bhattacharya said the price will not fall down, due to the rising consumption. He said it is not likely to expect if the price can rise, but at least no falling.