(THE NEWSMAN OF INDIA.COM)
Chhattisgarh Copper Limited a Joint Venture Company between Hindustan Copper Limited (HCL) and Chhattisgarh Mineral Development Corporation Ltd (CMDC) incorporated on 21.5.2018 has held its first Board meeting on 15th June 2018 at Raipur. The meeting was chaired by Santosh Sharma, CMD HCL who is also Chairman and Managing Director of the Joint Venture Company. Ms Alarmel Mangai Deekaram, IAS, MD CMDC and O.N.Tiwari, Executive Director, HCL other members of the Board attended the meeting. S.K.Bhattacharya, Director (Mining), HCL and P.S.Yadav, GM CMDC attended the Board meeting as invitee.

The shareholding pattern between Hindustan Copper and CMDC in the JV Company is in the ratio of 74%and 26%. The registered office of the JV Company is located in Bhilai, Chhattisgarh. The number of Directors nominated by Hindustan Copper and CMDC is in the ratio of 3:2. The Joint Venture Company will undertake Exploration and Mining of Copper ore in Chhattisgarh State.

It is noteworthy that HCL having 50 years of expertise in the field of exploration and production of Copper ore together with refining, smelting, and production of refined copper. The country is highly deficit in copper mineral and based on primary studies the possibility of finding copper mineral exists in the State of Chhattisgarh in the area adjacent to HCL existing mines located at Malanjkhand, MP which is bordering Chhattisgarh. The JV Company plans to commence exploration activities from August 2018 onwards.