SAIL in talks to form consortium to bid for Afghan copper deposits

The consortium is to bid in response to Afghanistan's invitation to express interest by 9 March for gold and copper deposits in its provinces.

FP Archives|Dec 20, 2014, 06:23:20 IST

Mumbai: State-run Steel Authority of India Ltd and government-controlled Hindustan Copper Ltd are in talks with Aditya Birla Group and Jindal Steel and Power Ltd to form a consortium to bid for gold and copper deposits in Afghanistan, The Mint newspaper reported.

Afghanistan has invited expressions of interest by March 9 for gold and copper deposits in four provinces.The consortium partners will be finalised soon, the paper quoted Hindustan Copper Chairman Shakeel Ahmed as saying. Jindal Steel and Power is also interested in investing in other projects in Afghanistan, Chief Executive V.R.Sharma told the newspaper.

[caption id="attachment_202229" align="alignleft" width="380" caption="Hindustan Copper Ltd are in talks to form a consortium with Aditya Birla Group and Jindal Steel and Power Ltd"][/caption]

SAIL and Jindal Steel and Power were part of a consortium that won three iron ore blocks in Afghanistan's Hajigak province in November. India and China, two of the world's fastest growing major economies, are vying with each other for access to Afghanistan's oil and mineral reserves.The companies could not be reached immediately for comment.

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