Hindustan Copper Puts Rs 2,000 Crore on the Table to Boost Core Mining by 2031

Hindustan Copper is getting serious about growth. The company has set aside Rs 2,000 crore to expand its core mining operations over the next five to six years, aiming to triple its ore output by 2031. This investment is focused entirely on projects Hindustan Copper will run itself, not the public-private partnerships like the Rakha and Chapri mines, which are being developed separately by JSW Group.

 

Most of the money—about Rs 1,400 to 1,500 crore—will go into the Malanjkhand Copper Project in Madhya Pradesh. The plan includes new underground mining facilities, a modern paste-fill plant, and a new concentrator. The rest will be used to upgrade the Khetri Copper Complex in Rajasthan and the Indian Copper Complex in Jharkhand. The company expects to restart mining at Rakha by the end of this fiscal year.

 

Hindustan Copper’s big goal is to boost its annual ore production from 4 million tonnes to 12.2 million tonnes by 2031. They’ve already added more than 123 million tonnes of copper ore to their reserves in just the last two years, thanks to new exploration. The company is also looking for fresh opportunities, both in India and abroad, and is working with Chile’s CODELCO to share mining know-how.

 

Financially, Hindustan Copper is on solid ground, having just posted its highest-ever annual revenue and profits. With India’s demand for copper rising fast, especially in infrastructure and electric vehicles, the timing for this expansion looks right.

 

Sources: Economic Times, Business Standard, CNBC TV18