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State-owned Hindustan Copper Ltd (HCL) is set to invest approximately INR 2,000 crore over the next five to six years to scale up its mining capacity, primarily at the Malanjkhand Copper Project in Madhya Pradesh. The move is part of a broader strategy to increase ore production from 4 MTPA to 12.2 MTPA by FY31. While the investment excludes the Rakha and Chapri mines in Jharkhand, a JSW Group firm is leading development there under a PPP model with an additional INR 2,600 crore investment. HCL also recorded its highest-ever revenue and profit in FY25.
State-owned Hindustan Copper Ltd (HCL) has announced plans to invest nearly INR 2,000 crore over the next five to six years to strengthen its mining operations, with the bulk of this capital directed towards expanding the Malanjkhand Copper Project (MCP) in Madhya Pradesh. This investment forms part of the company's larger vision to triple its ore production capacity from 4 million tonnes per annum (MTPA) to 12.2 MTPA by FY2030-31. Advertisement
However, this capital expenditure plan does not include the revival of the Rakha and Chapri mines located in Jharkhand. These two blocks are being developed under a Public-Private Partnership (PPP) model. A JSW Group entity has been awarded the Mine Developer and Operator (MDO) contract for both mines and is expected to infuse around INR 2,600 crore, which includes the installation of a new concentrator plant.
HCL Chairman and Managing Director Sanjiv Kr Singh stated that the INR 2,000 crore capital expenditure will be financed internally, with approximately INR 1,400-1,500 crore allocated specifically to the Malanjkhand Copper Project. The remaining amount will be channelled into ongoing projects at Khetri in Rajasthan and the Indian Copper Complex (ICC) in Jharkhand.
According to the company's latest corporate presentation, the MCP expansion will involve significant development of underground mining infrastructure, installation of a paste-fill plant, and construction of a modern concentrator facility. In Rajasthan's Khetri area, efforts are being made to increase both mining and concentrator capacities, while operations at Jharkhand's Rakha mine are scheduled to resume by the last quarter of the current financial year.
This investment push is aligned with HCL's broader goal of increasing domestic copper availability to meet growing national demand, which is being driven by sectors such as infrastructure, renewable energy, electric vehicles, and defence manufacturing. In the recently concluded financial year, the company achieved its highest-ever revenue of INR 2,071 crore and recorded a profit before tax of INR 634 crore.
Over the past two years, HCL has added over 123 million tonnes of copper ore resources through extensive exploration activities. The company intends to continue expanding its resource base and is exploring new opportunities via upcoming mineral auctions. Additionally, it is collaborating with Chile's state-run CODELCO to gain advanced expertise in mining technology and beneficiation processes.
HCL remains India's only vertically integrated copper producer and currently holds access to nearly 45 per cent of the nation's total copper ore reserves.
The company's focus on expanding flagship sites, reviving closed mines through PPPs, and collaborating internationally with CODELCO positions it as a central player in the country's evolving resource sector. As the demand for copper rises in tandem with infrastructure, clean energy, and industrial growth, HCL's expansion may play a pivotal role in reducing import reliance and enhancing India's mineral self-sufficiency.
Source - PTI
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