CAG Highlights Poor Exploration Performance by Hindustan Copper

09 Dec 2024 CW Team

The Comptroller and Auditor General (CAG) of India has raised concerns over the inadequate exploration efforts by state-owned Hindustan Copper Limited (HCL).

In an audit report on HCL's operational performance presented in Parliament this week, the CAG pointed out that the company had not undertaken any greenfield exploration in the last three decades. Since 2010, HCL had submitted only eight applications for greenfield exploration, none of which had been approved by the Ministry of Mines. Despite being designated as a "notified exploration agency," the company has not made significant progress in greenfield exploration activities. Additionally, the report revealed that HCL lacks a specific policy or guidelines for exploring its existing copper mines.

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