Hindustan Copper Limited (BSE:513599) is eyeing acquisition of lithium reserves overseas. The acquisition will be made through its joint venture arm, Khanij Bidesh India Ltd (KABIL). KABIL is a joint venture between National Aluminium Company Limited (BSE:532234) with 34% stake and Mineral Exploration Corporation Limited (MECL) and Hindustan Copper Ltd (BSE:513599) having a 33% stake each.

It has an equity share capital of INR 1 billion. According to Santosh Sharma, Chairman and Managing Director, HCL, the JV has already scouted some destinations overseas including Chile, Peru and Bolivia. The reserves are likely to be acquired within the next six months.