Hindustan Copper Ltd (HCL), a Central PSU, will spend Rs. 3,500 crore over next five years to develop mines in the country. HCL, only integrated copper producer in India, plans to quadruple the production of copper concentrates by making massive investment in mining in the coming years. Proposed Capex will be funded through internal accruals and borrowings.
HCL which sells copper cathodes, copper wire bar, continuous cast copper rod and by-products, has four mines each in the states of Rajasthan, Madhya Pradesh, Jharkhand and Maharashtra. At present HCL has smelting and refining capacity of 51,500 TPA of copper cathode and 60,000 TPA of wire rod.