Hindustan Copper to raise copper ore production to 51.5 lakh tonne from 41.22 lakh tonne

Hindustan Copper Ltd is aiming at a 25-per cent growth in ore production to 51.5 lakh tonne in fiscal 2019-20, the company said on Monday. The copper major has set a revenue from operations target of Rs 2,000 crore, and capex of Rs 600 crore -- mainly for mine expansion projects.

The state-owned company also said it signed a memorandum of understanding with the Ministry of Mines, outlining the performance targets for this fiscal -- raising copper ore production to 51.5 lakh tonne from 41.22 lakh tonne in 2018-19. The MoU was signed between Ministry of Mines Secretary Anil Mukim and HCL Chairman and Managing Director Santosh Sharma.

The ore production aim is in line with the company's ramp-up plan to 200 lakh tonne over the next few years.