ALSO READIndia raises $63 million from Hindustan Copper share sale Hindustan Copper resumes operation at copper mine in Jharkhand IRL terminates J'khand mine contract with Hindustan Copper Hindustan Copper may shine after signing MoU Government likely to raise Rs 400cr by disinvesting in Hindustan Copper Ltd
With an expectation that more copper mines would come up for auctions, India's import dependence for the metal is expected to come down, Mines Secretary Arun Kumar said here on Thursday.
He also said Hindustan Copper Ltd's (HCL) expansion programme would help the country to increase its domestic production for metal.
Besides, we have been auctioning mines and the country is progressing towards focused exploration of minerals. It is hoped more copper mines would come up for auctions. With all these, we hope country's import dependence for copper would come down," Kumar said at the HCL's golden jubilee celebration here.
The state-run company is presently implementing mine expansion scheme to quadruple its production capacity from 3.4 million tonnes to 12.4 million tonnes per annum within the next 5 years at an estimated capital expenditure of around $700 million, stated Company Chairman and Managing Director Santosh Sharma.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)