HCL will increase production in Malanjkhand, will spend Rs 350 crore in the current financial year

Kolkata, November 18 (Language) Hindustan Copper Limited (HCL) is producing 2.2 million tonnes of copper ore from the Malanjkhand project in Madhya Pradesh. Its current production capacity is 1.6 million tonnes.

Giving this information, a company official said that in the next six to seven years, the production capacity of this project will be increased to 5 million tonnes.

The public sector company will make a capital expenditure of Rs 350 crore in the current financial year. Out of this Rs 250 crore will be spent for the Malanjkhand project.

HCL is also awaiting renewal of lease from the Jharkhand government to reopen Rakha mines, which were closed in 2001-02 due to operational reasons.

A member of the HCL board of directors said, “Our capex for the current financial year is Rs 350 crore and we are expecting to exceed it.”

“There is shortfall in production from Malanjkhand project due to difficult terrain, but this year it will come in shape,” he said. We are expecting 22 lakh tonnes of ore production, which is now 15 to 16 tonnes.

In line with the government’s goal of increasing domestic mineral production, HCL wants to reopen the Rakha mine in Jharkhand. Its maximum production capacity is three million tonnes.