Deals2 Jun 2025, 07:45 am
South West Pinnacle Exploration Ltd Receives LOI from Hindalco Industries for Copper Block Exploration Worth ~ Rs. 6.70 Crores
AI Summary
South West Pinnacle Exploration Limited (SWPE) has received a Letter of Intent (LOI) from Hindalco Industries Limited for exploration and related services in a Copper block located in Maharashtra. The total contract value, including GST, is approximately Rs. 6.70 Crores. The mobilization period is two weeks from Hindalco's intimation, and the completion period for drilling activities is 30 weeks from site mobilization. The order is to be executed in approximately 62 weeks. This is not a related party transaction and no promoter/promoter group/group companies have any interest in Hindalco Industries Limited.
Key Highlights
- SWPE received an LOI from Hindalco Industries Limited for Copper block exploration worth ~ Rs. 6.70 Crores.
- The mobilization period is two weeks from Hindalco's intimation, and the completion period for drilling activities is 30 weeks from site mobilization.
- The order is to be executed in approximately 62 weeks.
- This is not a related party transaction.
- No promoter/promoter group/group companies have any interest in Hindalco Industries Limited.