Hindustan Copper Ltd (HCL) is embarking on a significant investment journey, with plans to infuse around INR 2,000 crore over the next five to six years. The primary focus of this financial commitment will be to amplify its mining capabilities, particularly at the Malanjkhand Copper Project in Madhya Pradesh. This strategic move is part of a broader vision aimed at tripling the ore output from 4 MTPA to 12.2 MTPA by the financial year 2030-31.
While this substantial investment excludes the Rakha and Chapri mines in Jharkhand, a JSW Group entity has taken the reins for their development under a Public-Private Partnership (PPP) model. This endeavor entails an additional investment of approximately INR 2,600 crore, inclusive of setting up a new concentrator plant.
Sanjiv Kr Singh, the Chairman and Managing Director of HCL, disclosed that the INR 2,000 crore capital infusion will be predominantly self-financed. A substantial portion, ranging from INR 1,400-1,500 crore, will be directed towards bolstering the Malanjkhand Copper Project, with the remaining funds allocated to ongoing initiatives at Khetri in Rajasthan and the Indian Copper Complex (ICC) in Jharkhand.
The expansion plans for the Malanjkhand Copper Project encompass a significant enhancement of underground mining infrastructure, the establishment of a paste-fill plant, and the construction of a modern concentrator facility. Concurrently, efforts in Rajasthan’s Khetri region are underway to augment both mining and concentrator capacities, while operations at Jharkhand’s Rakha mine are slated to recommence by the final quarter of the current fiscal year.
This strategic investment drive aligns with HCL’s overarching objective of boosting domestic copper availability to cater to escalating national demand, driven by sectors such as infrastructure, renewable energy, electric vehicles, and defense manufacturing. The company recently achieved its highest-ever revenue of INR 2,071 crore and reported a pre-tax profit of INR 634 crore in the concluded financial year.
Over the past couple of years, HCL has significantly expanded its copper ore reserves by over 123 million tonnes through extensive exploration endeavors. The company is committed to further enlarging its resource base and is actively exploring new prospects through upcoming mineral auctions. Additionally, it has forged a collaboration with Chile’s state-run mining giant, CODELCO, to leverage advanced mining technologies and beneficiation processes.
As India’s sole vertically integrated copper producer with access to nearly 45% of the nation’s total copper ore reserves, HCL’s strategic focus on expanding core sites, reviving defunct mines via PPPs, and engaging in international partnerships underscores its pivotal role in the country’s evolving resource sector.
The surge in copper demand, driven by the burgeoning infrastructure, clean energy, and industrial sectors, underscores the significance of HCL’s expansion efforts in potentially reducing import dependence and enhancing India’s mineral self-sufficiency.
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