2 weeks ago
Hindustan Copper Plans ₹7,000 Crore Expansion Over 5-6 Years
Hindustan Copper is a company owned by the Indian government that produces copper.
It plans to spend more than Rs 7,000 crore over the next five to six years.
The money will help find copper, reopen old mines and expand production.
The company may also work with other companies and look for copper deposits in India and other countries.
India needs more copper for buildings, clean energy, electric vehicles and power networks.
Hindustan Copper wants India to produce more copper at home instead of buying as much from other countries.
It has added 135.52 million tonnes to its copper reserves and resources in the past three years.
The company is working with Chile’s CODELCO to share technical knowledge and train employees.
It has also signed agreements with several Indian public-sector companies.
State-owned Hindustan Copper Limited plans to invest over Rs 7,000 crore during the next five to six years.
The investment will support mineral exploration, reopening closed mines, capacity expansion and strategic partnerships.
The company aims to increase domestic copper production as demand rises and reduce reliance on imports.
Hindustan Copper added 135.52 million tonnes of copper ore reserves and resources over the past three years.
The company has partnerships with CODELCO and several Indian public-sector companies, including RITES, Indian Oil Corporation, Coal India, Oil India and GAIL.
- Who
- State-owned Hindustan Copper Limited is leading the investment and expansion plan.
- What
- The company plans to invest more than Rs 7,000 crore in exploration, mine revivals, capacity expansion and partnerships.
- Where
- The expansion will involve operations and closed mines across India, along with potential copper-deposit acquisitions in India and overseas.
- When
- The investment is planned over the next five to six years.
- Why
- India’s copper demand is rising because of infrastructure, renewable energy, electric mobility, power networks and other clean-energy applications; Hindustan Copper also wants to reduce import dependence.
Key facts
- Planned investment
- More than Rs 7,000 crore
- Investment period
- Five to six years
- Recent resource additions
- 135.52 million tonnes of copper ore reserves and resources added over three years
- Copper resources and reserves
- 767.37 million tonnes
- Access to Indian copper reserves
- About 45 per cent of India’s copper ore reserves and resources
- International partner
- CODELCO, Chile’s state-owned copper company
- Market capitalisation
- Rs 51,619 crore
Sources
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