Hindustan Copper Limited signed a Memorandum of Understanding with the Ministry of Mines, Government of India, in New Delhi on 27.05.2019, outlining the performance targets for the financial year 2019-20. The MoU was signed between Shri Anil Mukim, Secretary, Ministry of Mines, and Shri Santosh Sharma, Chairman and Managing Director, HCL, in presence of Dr N.K.Singh, Joint Secretary, Ministry of Mines, Shri Alok Chandra, Economic Adviser, Ministry of Mines, and Ms Farida M. Naik, Director, Ministry of Mines.
For the financial year 2019-20, HCL’s target of Copper ore production is 51.5 lakh tonne which is 25% higher than the last year’s achievement of 41.22 lakh tonne. The target of ore production is in sync with the Company’s production ramp-up plan to 200 lakh tonne. The target for revenue from operations has been set at Rs 2000.0 crore and Capex at Rs 600.0 crore to be spent mainly for mine expansion projects of HCL.