Hindalco, the Rs 60,722 crore flagship company of the Aditya Birla group said that it is scouting for copper mines and was close to getting one.
While, he declined to reveal any details, Mr D. Bhattacharya, MD of Hindalco said 40 per cent of their requirement of concentrate comes from their own mines and they w
ould bridge the gap in the shortfall through acquisition of mines abroad. They currently have three mines in Australia of which one is under care and maintenance and two are in operation.
Mr Bhattacharya said the capital expenditure for Hindalco’s greenfield projects for FY11 is Rs 10,000 crore of which 30 per cent is equity and the rest is through debt.