Auction for Two Mines with 3 Million Tonne Capacity Set for October
Key Points:
• Hindalco Industries and JSW Steel vie for two Hindustan Copper mines
• Mines in Ghatshila, Jharkhand have combined 3 million tonne annual capacity
• Auction aims to boost domestic copper production, reduce import dependence
JAMSHEDPUR – Two major industrial players are set to compete for copper mines in Jharkhand’s Ghatshila subdivision, as the state prepares for an auction this month.
Aditya Birla Group’s Hindalco Industries and Sajjan Jindal’s JSW Steel are the main contenders.
The two mines, owned by state-run Hindustan Copper Ltd, have a combined annual capacity of three million tonnes.
One of the blocks is a virgin mine, while the other has been closed for two decades.
Meanwhile, Hindustan Copper had previously sought applications for a mine developer-cum-operator.
The company aims to reopen and expand the Rakha Copper Mine.
Additionally, it plans to develop and operate an underground mine at Chapri.
However, Hindustan Copper faces some regulatory hurdles.
The Rakha Mining Lease expired in 2021, with extension proceedings ongoing with the Jharkhand government.
Moreover, the company has applied for stage one forest clearance for the remaining lease area.
On the other hand, Hindustan Copper is implementing expansion projects to increase production capacity.
CMD Ghanshyam Sharma recently announced plans to reach 12.2 million tonnes per annum.
Furthermore, the company achieved a 13% increase in ore production in the 2024 financial year.
"This auction aims to reduce India’s dependence on copper imports," a knowledgeable source revealed.
