State-owned miner Hindustan Copper Limited on Wednesday said it is not in negotiations for forming a joint venture with Chile’s Corporación Nacional del Cobre de Chile (Codelco).
In a regulatory filing, the company said that while geophysical exploration information for a few mining blocks in Chile has been shared by Codelco, these are currently under evaluation, and no negotiations are underway for the formation of a joint venture company.
“Presently, no negotiation is going on with CODELCO for the formation of a Joint Venture Company. However, Geophysical exploration information of few Blocks has been shared by CODELCO for assessment, which is being evaluated by HCL,” Hindustan Copper said.
Hindustan Copper said it had earlier entered into an agreement for cooperation and exchange of information with Codelco on April 1, 2025, in line with the Government of India’s objectives.
The agreement is aimed at identifying and potentially implementing joint activities, including strategic partnerships, in exploration, mining and mineral beneficiation.
As part of this collaboration, a Codelco team comprising experts from geology, exploration, tailings management, geotechnical engineering, geometallurgy, and innovation had visited Hindustan Copper’s corporate office and mining sites in Rajasthan, Madhya Pradesh and Jharkhand during June–July 2025. The Chilean miner subsequently shared details of certain exploration projects in Chile.
The company said a team from Hindustan Copper, along with its MoU partners, is planning to visit some of these exploration sites shortly. Any potential joint exploitation of assets would be subject to successful exploration, project viability, and negotiations in accordance with Chilean mining laws, it added.
