State-owned Hindustan Copper Ltd (HCL) on Friday, 16 January, announced the commencement of underground mining operations at the Kendadih Copper Mine in the Ghatshila region of Jharkhand, marking a key step in strengthening domestic copper production.

The company’s stock had rallied sharply in the final week of December 2025, recording its best weekly performance since February 2021, when shares had jumped 73 per cent in a single week.

Earlier in December, Hindustan Copper signed a Memorandum of Understanding with NTPC Mining Ltd (NML) to jointly pursue opportunities in copper and critical minerals. The partnership will enable both companies to participate in mineral block auctions and collaborate across exploration, mining and processing activities.

HCL remains India’s only vertically integrated copper producer, with operations across the full value chain including mining, beneficiation, smelting and refining. The company is seen as a major beneficiary of rising copper demand from the power, electric vehicle and infrastructure sectors.

On Friday, Hindustan Copper shares closed at Rs 561.75 on the NSE, down 1.93 per cent.