“HCL has plans to increase its mining capacity from its current level ore production to 12.2 million tonne per annum in phase-I in next 7 to 8 years,” the public sector unit said.
The company further plans to increase its output to 20.2 MTPA after the completion of its first phase capacity expansion plan.
The company had during FY11 envisaged increasing its mine production capacity from 3.4 MTPA to 12.2 MTPA. This was subsequently revised to 20.2 MTPA in order to boost domestic production of copper metal to reduce dependence on imports, it said.
HCL also said that the proposed expansion of Malanjkhand Copper Project (MCP) will augment the ore production capacity from 2.0 to 5.0 MTPA by developing an underground mine below the existing open pit whose life is at its fag end.
“The proposed expansion of mines at western sector will increase ore production capacity from existing 1.0 to 3.0 MTPA,” the company said.
HCL expects that sinking of shaft, deepening of various winzes will increase production capacity from 0.4 MTPA to 0.9 MTPA at Surda mine.
The company initiated actions to re-open closed mines, development of new underground mine at Singhbum Copper Belt of Indian Copper Complex (ICC) namely, Kendadih and Rakha mines.
The turnover of the company during FY22 increased by 2.92 per cent to Rs 1,812.21 crore as against Rs 1,760.84 crore in FY21.