Hindustan Copper Limited to quadruple production, develop new mines as it steps into golden jubilee year, says CMD
Kolkata, Nov 7 (IBNS): Hindustan Copper Limited will quadruple its production capacity from 3.4 MT to 12.4 MT within five years, stated Santosh Sharma, CMD, Hindustan Copper Limited at a press conference, here on Tuesday.
Development of a new underground mine at Chapri-Sideshwar and re-opening of closed underground copper project at Rakha Mines at Jharkhand each with 1.5 MT annual copper production capacity by floating a global tender is on the cards for the Mini-Ratna (Category I) PSU.
Other upcoming projects of HCL, which is about to step into its golden jubilee year, includes expansion of underground mine at Banwas, Rajasthan to produce 0.6 MT copper and reopening of Kendadih mine in Jharkhand to have an expanded capacity of0.21 MT.
Implementation of these mine expansion schemes will incur an estimated capital expenditure of around 700 million US dollars, Sharma further stated.
Speaking about the HCL’s social sector initiatives, Sharma informed, the company imparts skill development training recognised by National Skill Development Corporation to youths employed in its various copper projects which helps them to be gainfully employed in other reputed firms.
He further stated, the company has implemented CSR plans to develop water, irrigation, infrastructure, health and sanitation, education, livelihood and income generation, women empowerment, environmental sustainability projects in 19 villages located close to its three major projects at Ghatshila in Jharkhand, Khetri in Rajasthan and Malanjkhand in M.P.
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