BackHindustan Copper wants 4-fold mine expansion
The firm plans to enhance mining production from 3.4 mt per annum at present to 12.4 mt in the next five years
Premium(Bloomberg)
Mumbai: State-run Hindustan Copper Ltd has proposed a plan outlay of ₹ 688.37 crore for mine expansion, development and greenfield exploration in the current fiscal year, significantly up from the plan expenditure of ₹ 260.28 crore in 2012-13, the company said in a press release on Friday.
“The company has rolled out eight mining projects at an estimated cost of ₹ 3,435 crore to enhance its mining production from 3.4 million tonnes per annum at present to 12.4 million tonnes in the next five years," the statement, issued after the annual general meeting, said. “The work has started on four projects."
Hindustan Copper is India’s only copper miner that also produces copper metal, but in the past few years it has shifted focus to raising its mining output as the low copper prices made it difficult to produce copper metal with high profit margins.
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