Hindustan Copper plans big capacity expansion over 8 years

Hindustan Copper Ltd (HCL) is considering increasing copper ore production to 12.2 million tonnes (MT) per annum by FY29 in its first phase of expansion. The state-owned company's copper ore production was 3.57 MT in FY22. HCL has plans to increase its mining capacity from its current level ore production to 12.2 million tonne per annum in Phase I in the next seven to eight years, the public sector unit said. The company further plans to increase its output to 20.2 MTPA after the completion of its first phase capacity expansion. The company had during FY11 envisaged increasing its mine production capacity from 3.4 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, it said. HCL also said that the proposed expansion of Malanjkhand Copper Project (MCP) will augment the ore production capacity from 2 to 5 MTPA by developing an underground mine below the existing open pit, whose life is coming to an end. The proposed expansion of mines at western sector will increase ore production capacity from existing 1.0 to 3.0 MTPA, the company said. HCL expects that sinking of shaft, deepening of various winzes will increase production capacity from 0.4 MTPA to 0.9 MTPA at the Surda mine. The company has initiated actions to re-open closed mines, and develop new underground mines at Singhbum Copper Belt of Indian Copper Complex (ICC), namely the Kendadih and Rakha mines. The turnover of the company during FY22 increased by 2.92 per cent to Rs 18.12 billion crore as against Rs 17.61 billion in FY21.