Hindustan Copper Ltd to quadruple production capacity in five years
Kolkata, Nov 8 (IBNS): Hindustan Copper Limited will quadruple its production capacity from 3.4 MT to 12.4 MT within five years, said Santosh Sharma, CMD, Hindustan Copper Limited at a recent meeting in Kolkata.
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 an underground mine at Banwas, Rajasthan, to produce 0.6 MT copper, and the reopening of Kendadih mine in Jharkhand to have an expanded capacity of 0.21 MT.
Implementation of these mine expansion schemes will incur an estimated capital expenditure of around USD 700 million said Sharma.
Speaking about the HCL’s social sector initiatives, Sharma said 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 said 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 Madhya Pradesh.
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