Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Companies / News/  Hindustan Copper signs MoU with IIT (ISM) Dhanbad to enhance copper ore production

New Delhi: State-owned Hindustan Copper Limited (HCL) and the Indian Institute of Technology (IIT) (Indian School of Mines), Dhanbad, on Wednesday signed a Memorandum of Understanding (MoU) for technical collaboration to increase the state-owned firm’s copper ore production.

This is the first technical collaboration between the two organisations. HCL is the only copper miner in India and owns all operating mining leases for copper ore in the country.

At present, majority of ore production comes through from underground, with an estimated 4 million tonne produced annually. However, due to complex geological characteristics of the ore body and increased depth of mining, various geo-technical and ground water related issues along with technical/ operational problems are being faced during the process of production along with maintaining safety standards and dealing the emerging sustainability issues.

HCL plans to increase its ore production capacity threefold in the coming years wherein development activities in projects are either on-going in nature or already planned in most of its mines.

At present, the mined out ore is processed at the company’s ore beneficiation plants and metals in concentrate is sold in domestic and international markets.

IIT-ISM, Dhanbad, being an institute of national repute, particularly in the fields of mining of minerals and its beneficiation and Earth Sciences, will play a key role in solving the emerging geological, technical, environmental, sustainable and ore beneficiation issues for achieving the envisaged expansion programme of HCL.

The MoU will allow HCL to receive technical assistance, guidance and consultancy work from IIT-ISM for enhancing copper ore production through modifying mining methods with application of state-of-the-art technologies, improvement of productivity and safety in mines, environmental clearance issues, various hydrological & hydro-geological studies and in areas of unconventional exploration methods like Geophysical exploration, Remote Sensing etc. for depth exploration of copper ore.

The company desires to partner IIT-ISM in taking up R&D projects for improvement of Indian copper mining sector, training and development of HCL engineers and managers for skill set development and knowledge up-gradation in the areas of exploration, ore beneficiation and various other statutory/ mine regulation amendments or related issues.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 04 Jan 2023, 02:28 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App