Hind Copper tenders for concentrate purchase
Hindustan Copper Ltd has issued a global tender for the purchase of 40,000 tonnes of copper concentrate.india Updated: Jul 14, 2006 16:14 IST
Hindustan Copper Ltd, India's third-largest producer of the metal, has issued a global tender for the purchase of 40,000 tonnes of copper concentrate, a company official said on Friday.
The tender -- issued on a cost and freight basis for delivery at the Kandla port -- closes on July 25.
"This is a new tender with changed specifications," the official said.
Another official said an earlier tender for the supply of a similar quantity of concentrate had been cancelled due to several "technical deviations". He did not elaborate.
"We expect more participation this time," the official said.
LME copper for delivery in three months was at $7.972 a tonne by 0451 GMT on Friday in Asian trade, up slightly from its close in London at $7.920 a tonne.
Hindustan Copper ranks behind Hindalco Industries Ltd and Sterlite Industries Ltd in India.
India produces about 5.3 million tonnes of copper annually, a fraction of the world's total output of 470 million tonnes.