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Performance of Khetri Copper Unit reviewed

The Minister of Mines and Minister of Development of North Eastern Region BK Handique has visited Khetri Copper complex, Khetri Nagar , Rajasthan, a unit of Hindustan Copper Ltd (HCL) recently.
The Minister visited various facilities of Mines & Plants and reviewed in detail the performance of the unit. The mine production of the Khetri Copper Complex will be enhanced from present level of 1.0 million tonne/annum to 2.6 million tonne/annum by 2015.
This involves expansion of Khetri & Kolihan mine and development of Banwas deposit and Chandmari mine. Shri Handique has physically inspected the Banwas deposit area and directed the CMD, HCL to put the mechanism in place to start mining of ore at Banwas.
He has also reviewed the action plan to conserve use of water and to overcome water shortage including alternate source of water supply.
HCL is aggressively pursuing increase in mine production by expansion of current mines, re-opening of closed mines at Ghatsila and development of new deposit through green filed exploration in the Country. It has also kept the option open for acquiring copper deposit in other geographies.
The company has prepared plans to increase mine production from current level of 3.15 million tonne/annum to 11.0 million tonnes/annum by 2017 with an investment of Rs 3500 crores. The Company has sent a proposal for follow on public offer (FPO) to the Ministry for disinvestment of 20% of Company’s equity – 10% for GoI and 10% for meeting its expansion needs.

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