Latest news with #HindustanCopperLimited
Time of India
05-07-2025
- Business
- Time of India
Hindustan Copper shifts to underground mining, plans to double output amid surge in infra demand
Hindustan Copper Limited (HCL) has transitioned its Malanjkhand mine to fully underground operations, aiming to triple production by 2030-31 to meet surging domestic demand fueled by AI and data centers. HCL has also partnered with Codelco of Chile to enhance exploration and operational capabilities. This expansion aligns with India's vision for industrial growth and self-sufficiency in copper production by 2047. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a significant development for India's mining sector, Hindustan Copper Limited (HCL) has successfully transitioned its flagship Malanjkhand mine from open-cast to fully underground announcement was made during a site visit on Saturday, where HCL Chairman and Managing Director Sanjiv Kumar Singh laid out the company's ambitious roadmap for copper production."For the year 2024-25, our entire production from Malanjkhand has come from underground mining," said CMD Singh. "We are currently producing around 4 million tonnes, and we aim to double this to nearly 12 million tonnes -- within the next six years," he a Government of India enterprise, is undertaking this expansion to meet the growing domestic demand for copper, which has seen a sharp rise with the emergence of artificial intelligence and data centers."Earlier, copper demand was largely driven by electric vehicles, metros, railways, and transmission lines. But now, with the boom in AI and data centers, which consume huge amounts of copper for wiring and cooling systems, the demand has grown exponentially," Singh in a strategic international move, HCL signed an MoU on April 1, 2025, with Codelco, Chile's state-owned copper mining giant. The partnership aims to strengthen HCL's capabilities in deep exploration, operational excellence, and adoption of global best practices."Codelco will assist us in exploring copper deposits beyond one kilometer depth, share international benchmarks, and help us resolve technical challenges in our mines," Singh said."Their team has already arrived in India as of June 23 to initiate collaborative work."Additionally, CMD Singh described this phase as a pivotal moment in the company's journey. "This is the Amrit Kaal. We must utilize this time effectively to contribute to the Prime Minister's vision of a Developed India by 2047," he said."Our role in meeting India's copper requirements is crucial, and we are committed to scaling up every aspect of our operations," he added.A comprehensive Vision Document has been laid out by Union Coal and Mining Minister G Kishan Reddy to guide this transformation. It outlines production targets, technology upgrades, recycling initiatives, and sustainability goals to ensure the copper industry plays a leading role in India's industrial growth.
Time of India
04-07-2025
- Business
- Time of India
Mines Minister launches vision documents for Aluminium and Copper
India aims to significantly increase its aluminium and copper production by 2047, according to vision documents. The plans include boosting aluminium output sixfold and establishing 5 MTPA copper refining capacity by 2030. To achieve these goals, India will focus on enhancing recycling, adopting green technologies, and securing strategic global partnerships to address import reliance and potential supply disruptions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India plans scaling up domestic aluminium and copper production multi-fold by 2047 according to vision documents shared by Union Coal and Mines Minister G Kishan Reddy. An official statement said the Aluminium Vision Document targets scaling up aluminium output sixfold, raise bauxite capacity to 150 million tonnes per annum (MTPA), boost recycling, and promote green copper vision sets the course for meeting a sixfold rise in copper demand by 2047, with plans for 5 MTPA refining capacity by 2030, stronger recycling, and strategic global tie-ups, the statement presented these documents during the international conference on sustainable and responsible mining through best mine closure practices . 'The Mines Ministry is employing a philosophy of '6 R's to mine closure activities.'These are reclamation, repurposing, rehabilitation, revegetation, remediation, and relinquishment, Reddy to the copper vision document Hindustan Copper Limited (HCL) is the only domestic copper miner in India. However, with new copper blocks being auctioned, long-term domestic copper ore production is projected to reach about 21 MT, meeting only 4.6% of domestic concentrate demand.'This limited domestic supply underscores India's heavy reliance on copper concentrate imports, making the nation vulnerable to external market fluctuations,' the document said while adding these issues could leave India with few viable options to source copper, even from major exporters like Australia, Chile, Peru, and should also consider investing in or establishing smelters and refineries abroad. This approach would secure a steady supply chain, enabling it to better manage supply disruptions arising due to resource nationalism and export ban of copper raw materials, the document aluminium vision document notes that India's current domestic self-reliant Aluminium production capacity is 4.2 MT, while secondary capacity of 2.0 MT is largely dependent on imported FY47, secondary Aluminium production from domestic scrap is projected to reach an incremental 6 MTPA. 'To meet the projected demand of 37 MTPA by FY47, there will still be a shortfall of 7 MTPA, the raw material for which will need to be met from international sources of bauxite or scrap or discovering more bauxite resources,' the document said while adding the process of transitioning 4.95 Billion Tonne of resources to proven reserves should happen on a mission-mode.
Business Upturn
30-06-2025
- Business
- Business Upturn
Hindustan Copper and Coal India sign MoU to explore joint opportunities in copper and critical minerals sectors
By Aditya Bhagchandani Published on June 30, 2025, 21:21 IST Hindustan Copper Limited (HCL) has announced the signing of a Memorandum of Understanding (MoU) with Coal India Limited (CIL) on June 30, 2025. The agreement aims to jointly identify and evaluate business opportunities in the copper and critical minerals sectors. In its regulatory filing, HCL stated that the two state-owned enterprises will also explore potential partnerships with renowned global companies operating in these segments. The company clarified that the MoU does not establish a legally binding relationship between the parties and is purely exploratory at this stage. This development reflects a growing focus by Indian public sector enterprises on securing critical mineral resources essential for energy transition and industrial growth. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
New Indian Express
11-06-2025
- Business
- New Indian Express
Hindustan Copper plans Rs 2,000 crore capex over next 5-6 years
Public sector undertaking Hindustan Copper Limited (HCL) plans to invest approximately Rs 2,000 crore over the next 5-6 years as it aims to expand its mining capacity, said the company in its corporate presentation on Wednesday. The state-run copper producer aims to expand its mine capacity from 3.47 million tonnes per annum (MTPA) in FY24-25 to 12.2 MTPA by FY30-31. It stated that an increased budget of exploration led to 123 million tonnes of additional copper ore reserves and resources in the last two years. HCL has been acquiring new promising copper deposits in India and abroad by taking part in mineral auctions. It has also signed MoUs with Indian PSUs to expand its mining portfolio. As per the presentation, the company's capex stood at Rs 350 crore per year between FY22 and FY25. However, in all four years, the company's actual capex stood higher than Rs 350 crore. Hindustan Copper recently reported a 52% increase in consolidated profit at Rs 189 crore for the quarter that ended on March 31. Its consolidated income during the fourth quarter rose to Rs 777.28 crore as against Rs 585.22 crore in the year-ago period.
Time of India
09-06-2025
- Business
- Time of India
RITES shares in focus after MoU with Hindustan Copper to build critical mineral supply chain
RITES Ltd shares are likely to attract investor interest on Monday, June 9, following the announcement that the company has signed a strategic Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL) to jointly build a robust and self-reliant mineral supply chain . 'RITES Ltd., the leading Transport Infrastructure Consultancy and Engineering firm, today signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL), a CPSE under the Ministry of Mines, to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas,' the company informed via its regulatory filing. In its press release, the transport infrastructure consultancy and engineering firm said the MoU aims to facilitate the development of a rapid, reliable, and sustainable supply chain of metals and minerals, with a focus on critical minerals, both in India and internationally. HCL, a Central Public Sector Enterprise under the Ministry of Mines, will collaborate with RITES in exploration, extraction, refining, and production activities. The partnership will also include participation in mineral block auctions and the development of mining infrastructure. RITES will extend end-to-end consultancy and logistics support for project planning, multimodal transport solutions, infrastructure development, and rolling stock support to enhance HCL's mining operations. Live Events This MoU is expected to further the government's agenda of mineral security and economic resilience by fostering sustainable growth in the mining and infrastructure sectors. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah RITES share price performance The stock of RITES has recorded a 1-year decline of 7.20%, indicating a negative return over the longer term. However, on a year-to-date (YTD) basis, the stock is up 1.63%, and the 6-month return stands at a modest 1.37%. In contrast, the 3-month performance has been strong with a 41% gain, while the 1-month return is also robust at 35.37%, reflecting a sharp recovery in recent weeks. On Friday, RITES shares closed nearly 3% lower at Rs 300.05 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
