Hindustan Copper, NTPC Mining sign MoU to jointly pursue copper and critical mineral projects

Under the MoU, HCL and NML will assess opportunities for joint investments aimed at developing, mining and processing minerals from HCL’s existing asset base. Shares of Hindustan Copper Ltd ended at ₹338.50, down by ₹0.75, or 0.22%, on the BSE. State-owned Hindustan Copper Ltd (HCL) on Tuesday (December 1) said the company and NTPC Mining Ltd (NML) have executed a Memorandum of Understanding to collaborate across copper and critical minerals development. The agreement enables the two companies to jointly participate in copper and critical minerals block auctions and work together on exploration, mining and processing activities. Under the MoU, HCL and NML will assess opportunities for joint investments aimed at developing, mining and processing minerals from HCL’s existing asset base. Also Read: Hindustan Copper shares set for best month since December 2023 after fifth straight day of gains The partnership also extends to evaluating potential collaboration across domestic and overseas copper and critical mineral projects, covering both current and future assets. Second Quarter Results The company's net profit jumped 82.3% year-on-year to ₹186 crore, compared with ₹102 crore in the same quarter last year. Its revenue rose 39% to ₹718 crore from ₹518 crore a year ago. EBITDA surged 86.3% to ₹282 crore, while margins expanded to 39.3% from 29.2% in the year-ago period. Shares of Hindustan Copper Ltd ended at ₹338.50, down by ₹0.75, or 0.22%, on the BSE. Also Read: Hindustan Copper shares jump 11% on Friday; Here's why Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!