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Central Government/Public Sector | Bihar - India | PID: 201134
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Hindustan Copper (HCL) is likely to float a tender by mid-July, 2023 for appointing a mine developer-cum-operator (MDO) for the re-opening and expansion of Rakha Copper Mine in Jharkhand. The project is expected to involve a capital expenditure of around Rs 2,000 crore, to be spread over the next few years
HCL's Board sanctioned a qualified institutional placement (QIP) of Rs 500 crore and non-convertible debentures (NCD) of Rs 500 crore for the approval of shareholders. The company is expecting 10 percent growth in production in the current financial year
the government of Jharkhand recently permitted a renewal of the lease for the Rakha mine, which was closed in the year 2000, and has to go through other statutory processes including environmental and forest clearances
During the current financial year, HCL has committed a total investment of around Rs 450 crore on the expansion and development of mines
the government has recently released a list of 30 critical minerals, which includes copper. Till date, only about 0.3 percent of the world's copper reserve is in India
| Updated on: 04 - Jul - 2023
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