Hindustan Copper undertakes projects to increase output, mining capacity

State-owned Hindustan Copper is taking requisite actions to increase the output from its mines and is also in the process of augmenting the mining capacity through expansion projects.

The company during 2010-11 had envisaged increasing the mine production capacity from 3.4 million tonne per annum (MTPA) to 12.2 MTPA. This was subsequently revised to 20.2 MTPA in order to boost domestic production of copper metal to reduce dependence on imports.

The expansion plan will be implemented in a phased manner and in the first phase, a capacity up to 12.2 MTPA would be targeted. It would be scaled up to 20.2 MTPA in the second phase.

"To augment production from mines, the company is taking requisite action and is also in the process of enhancing the mining capacity through ongoing mine expansion projects. Against the contract awarded for taking ore production from underground mine at Malanjkhand Copper Project (MCP) through decline route, the contractor has built up the infrastructure and development work is in progress," Hindustan Copper said in its annual report 2020-21.

"MCP underground expansion project has achieved an important milestone i.e. completion of excavation of 1500 m long drive and connection of tunnel ends of north and south sections of the mine...," it said.

Under the leadership of Hindustan Copper CMD Arun Kumar Shukla, up to 10 per cent stake sale in Hindustan Copper got off to a good start on Thursday with institutional investors putting in bids of over Rs 700 crore.

As against the over 4.35 crore shares on offer, institutional investors put in bids for more than 6.14 crore shares, or 1.41 times the offer size, according to the NSE data.

During 2020-21, the turnover of the company was Rs 1,760.84 crore as against Rs 803.17 crore during FY 2019-20, registering an increase of 119 per cent.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel