Hindustan Copper is India's largest copper miner, extracting ore from underground mines in Rajasthan, Madhya Pradesh, and Jharkhand, with production guided to scale from 4.35 million tons currently to 12 million tons by 2030-31. Key segments include Malanjkhand (targeting 5 million tons by FY31), Khetri-Kolihan (2.9 million tons), and Jharkhand (4.3 million tons via Rakha, Kendadih, and Surda). Growth hinges on ₹2,000 crore capex for shaft equipping at Malanjkhand (32-month cycle), Jharkhand mine restarts (Kendadih lease signed within weeks, Rakha MDO production starting in 16-18 months), and concentrator plant upgrades. Metal-in-concentrate (MIC) output is projected to rise from 30,000 tons to 90,000-95,000 tons by FY31, with costs at $5-6k/ton versus LME $10k providing margin visibility. Execution risks center on monsoon disruptions (85% of FY26-27 output tied to monsoon) and timely completion of Malanjkhand’s shaft installation, critical for scaling to 5 million tons by FY31.
Hindustan Copper (HCP) was incorporated in 1967 as the sole operator of copper mines in India. The company operates seven mines spread across three mining complexes: the Indian Copper Complex in Ghatsila, Jharkhand, the Khetri Copper Complex in Khetrinagar, Rajasthan, and the Malanjkhand Copper Project in Balaghat district, Madhya Pradesh. It is the only entity in India with end-to-end capability from copper ore mining through concentrate production. The company's history is one of prolonged st...
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Total production guided at 12 million tons by 2030-31 driven by Malanjkhand and Jharkhand mine expansions; MIC production targeted at 80,000-90,000 tons by 2030-31
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