1 min read.Updated: 01 Aug 2019, 09:32 PM ISTSudarshan Varadhan, Reuters
The Nalco will hold a 40% stake in the JV called Khanij Bidesh India Ltd, with Hindustan Copper and Mineral Exploration Corp controlling 30% each
The new JV 'will help in building partnerships with other mineral rich countries like Australia and those in Africa and South America'
New Delhi: Three Indian state-run companies are to form a joint venture to buy mining assets overseas that have minerals such as lithium and cobalt, which are used in the manufacture of batteries for electric vehicles.
The National Aluminium Co Ltd will hold a 40% stake in the joint venture called Khanij Bidesh India Ltd, with Hindustan Copper Ltd and Mineral Exploration Corp Ltd controlling 30% each, India's mines ministry said in a statement on Thursday.