A joint venture company to be formed to identify, explore, acquire, develop and process the strategic minerals overseas for commercial use
GN Bureau | September 21, 2017
In its bid to make the country self-reliant in the areas of 12 strategic minerals that are either not available in India or not available adequately, National Aluminium Company (NALCO), HCL and Mineral Exploration Corporation Limited (MECL), the CPSEs of ministry of mines have inked an agreement.
CMD, NALCO, Tapan Kumar Chand said that the objective of the pact is to establish a joint venture company to identify, explore, acquire, develop and process the strategic minerals overseas for commercial use and for supplying to India to meet the domestic requirements due to its non-availability in India.
A task force headed by NALCO has been formed to finalise a draft joint venture agreement by second week of November.
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