Hindustan Copper Ltd Expands Mine Production to Reduce Import Dependency

State-owned Hindustan Copper Ltd (HCL) is expanding mine production capacity to 12.2 million tonnes per annum to boost domestic copper production and lower import dependency. The company's CMD, Ghanshyam Sharma, highlighted 13% growth in FY'24 and significant developments at various mine projects during the 57th Annual General Meeting.

State-owned Hindustan Copper Ltd (HCL) is on an expansion spree, aiming to increase its mine production capacity to 12.2 million tonnes per annum (MTPA). The initiative seeks to enhance domestic production and curb reliance on imports, according to CMD Ghanshyam Sharma.

In FY'24, the company achieved an ore production of 3.78 million tonnes, marking a 13% rise from the previous year's 3.35 million tonnes. Speaking at the 57th Annual General Meeting, Sharma, who holds the additional charge of Chairman and Managing Director, detailed the capacity expansion projects underway.

Key developments include the Malanjkhand Copper Project, which transitioned from open cast to underground mining and saw a 60.8% increase in ore production. Expansion plans for mines in Rajasthan and Jharkhand aim to significantly boost their capacities, reinforcing HCL as India's only vertically integrated copper producer.

(With inputs from agencies.)