A company statement said the demand for copper is projected to surge in the coming years. This will be on the back of the global economy transitioning towards renewable energy and electric mobility, driven by advancements in Artificial Intelligence and strengthened decarbonization policies, making copper a critical enabler of sustained economic growth.
“The Company is in the process of implementing its mine expansion plan from the current around 4 million tonnes per annum (MTPA) to 12 MTPA by 2030-31,” Hindustan Copper said.
Sector watchers predict copper prices will continue to rise due to constrained mine supply and growing demand from EVs. “Some analysts expect copper prices could reach new highs, potentially breaching the $10,000-per tonne mark, if trade tensions ease and global economic growth continues,” HCL Chairman and Managing Director Sanjiv Kumar Singh had told ET in May this year.
HCL also recently restarted the Surda Copper Mine and awarded mine development operator (MDO) contract on revenue share for production of 3 mtpa copper ore from its Rakha Copper Mine.
