RITES announced that it has signed a memorandum of understanding (MoU) with Hindustan Copper (HCL) to jointly develop a rapid, reliable, sustainable supply chain of metals, minerals, including critical minerals in India and overseas.
RITES rose 1.22% to Rs 303.70, while Hindustan Copper advanced 1.31% on the BSE.The partnership will focus on exploration, extraction, refining, and production activities in India and overseas, leveraging the technical and financial strengths of both organisations. The collaboration includes participation in mineral block auctions and development of mining infrastructure.
As part of the MoU, RITES will provide end-to-end consultancy and logistics solutions, including project planning, transport infrastructure development, multimodal transport planning, and rolling stock support, to strengthen HCLs mining operations.
Hindustan Copper is a central public sector undertaking under the administrative control of Ministry of Mines, Government of India, is primarily engaged in the business of mining and processing of copper ore into Metal-In-Concentrate (MIC),
RITES is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach
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