Hindalco looks to buy equity stake in a copper mine abroad.     

  Hindalco is scouting for copper mines abroad for backward integration of its copper business with concentrates, said its managing director Satish Pai. “We won’t run them, but we may take an equity interest, and based on that equity interest we will get our share of production,” Pai told ET. 

The company, a subsidiary of Aditya Birla Group, has 10-year term import contracts for copper concentrates that fulfil 80-90% of its requirement, but these are more expensive. It plans to acquire sta .. 

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