Latest News | Hindustan Copper Aims to Increase Production Capacity Up to 12.2 Million Tonnes in First Phase of Expansion

New Delhi, Sep 28 (PTI) State-owned Hindustan Copper is executing its expansion projects to ramp up the production capacity of its mines to 12.2 million tonnes per annum in the first phase, company's Chairman and Managing Director Arun Kumar Shukla said on Wednesday.

The capacity expansion is expected to give a fillip to the domestic production of copper and reduce country's dependence on imports.

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The company later plans to increase its production capacity to 20.2 million tonnes per annum, Shukla said while addressing shareholders at the 55th annual general meeting of the company through video conferencing.

The proposed expansion of Malanjkhand Copper Project (MCP), MP will augment the ore production capacity from 2 million tonnes per annum (MTPA) to 5 MTPA by developing an underground mine below the existing open pit whose life is at its fag end.

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The proposed expansion of mines at western sector, which includes Khetri, Kolihan and Banwas mines in Rajasthan, will increase ore production capacity from existing 1 MTPA to 3 MTPA.

The production from Malanjkhand underground mine has already commenced, Shukla said, adding that the company is moving forward to achieve its production targets.

He also informed that the company has repaid loan of Rs 729 crore in FY22 from its internal accruals.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)