Hindalco Industries, part of the Aditya Birla Group, and JSW Steel, are competing to acquire two copper mines in Jharkhand, which are set to be auctioned.
The two mines have a total capacity of three million tons per annum. Both companies are aiming for Hindustan Copper Ltd’s copper mines in the region. The auction is expected to take place in October.
One of the mines is untouched, while the other has been inactive for the past twenty years. Hindustan Copper had previously sought applications for a mine developer-cum-operator (MDO) to reopen and expand the Rakha copper mine and to develop and operate an underground mine at Chapri.
Hindustan Copper informed that the mining lease for Rakha had expired in 2021, and an extension is currently being processed with the Jharkhand government. Additionally, the project screening committee has approved the application for stage one forest clearance for the remaining forest area within the mining lease. Inspections by various authorities from the state forest department have already been completed.
Hindustan Copper is working on expansion projects aimed at increasing its production capacity to 12.2 million tons per annum. The initiative is expected to enhance domestic copper production and lessen reliance on imports.
As reported by money.rediff.com, Hindustan Copper specializes in copper ore mining, holds all operating mining leases for copper ore, and is the only vertically integrated producer of refined copper in the country.
