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NEW DELHI: The state-owned Hindustan Copper is taking the necessary steps to increase production at its mines and is also increasing mining capacity through expansion plans.
The company in 2010-11 had planned to increase the mine’s production capacity from 3.4 million tonnes per year (MTPA) to 12.2 MTPA. This was then revised to 20.2 MTPA in order to stimulate domestic production of copper metal in order to reduce dependence on imports.
The expansion plan will be implemented gradually and in the first phase, a capacity of up to 12.2 MTPA would be targeted. It would be increased to 20.2 MTPA in the second phase.
“To increase production from the mines, the company is taking the necessary steps and is also in the process of improving mining capacity through ongoing mine expansion projects. road, the contractor has built the infrastructure and the development work is underway, â€said Hindustan Copper in its 2020-21 annual report.
“The MCP underground expansion project has reached an important milestone, namely the completion of the excavation of a 1,500 m long road and the connection of the tunnel ends of the northern and southern sections of the mine. .”, did he declare.
Led by Hindustan Copper CMD Arun Kumar Shukla, the sale of up to 10 percent of Hindustan Copper’s shares got off to a good start on Thursday with institutional investors bidding over Rs 700 crore.
Compared to stocks over 4.35 crore on offer, institutional investors have bid for more than 6.14 crore shares, or 1.41 times the size of the offering, according to NSE data.
In 2020-2021, the company’s turnover was Rs 1,760.84 crore compared to Rs 803.17 crore in fiscal year 2019-20, registering an increase of 119%.
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The company in 2010-11 had planned to increase the mine’s production capacity from 3.4 million tonnes per year (MTPA) to 12.2 MTPA. This was then revised to 20.2 MTPA in order to stimulate domestic production of copper metal in order to reduce dependence on imports.
The expansion plan will be implemented gradually and in the first phase, a capacity of up to 12.2 MTPA would be targeted. It would be increased to 20.2 MTPA in the second phase.
“To increase production from the mines, the company is taking the necessary steps and is also in the process of improving mining capacity through ongoing mine expansion projects. road, the contractor has built the infrastructure and the development work is underway, â€said Hindustan Copper in its 2020-21 annual report.
“The MCP underground expansion project has reached an important milestone, namely the completion of the excavation of a 1,500 m long road and the connection of the tunnel ends of the northern and southern sections of the mine. .”, did he declare.
Led by Hindustan Copper CMD Arun Kumar Shukla, the sale of up to 10 percent of Hindustan Copper’s shares got off to a good start on Thursday with institutional investors bidding over Rs 700 crore.
Compared to stocks over 4.35 crore on offer, institutional investors have bid for more than 6.14 crore shares, or 1.41 times the size of the offering, according to NSE data.
In 2020-2021, the company’s turnover was Rs 1,760.84 crore compared to Rs 803.17 crore in fiscal year 2019-20, registering an increase of 119%.
