“Kendadih copper mine of the company located at Ghatsila, Jharkhand, was closed in the February, 2000 due to economic reasons. Since then, considering the favourable market conditions, the Company has reworked the mine business plan,” Hindustan Copper said in a press release.
After obtaining all the statutory clearances like Environment and Forest clearances including execution of mining lease deed from Central and State Governments it has re-opened the mine on 11th December, 2017, it added.
The mine (after completion of mine development activities) is expected to produce 2.25 lakhs MT of copper ore annually, the company said.
At 09:57 AM; the stock was up 6% at Rs 94.70 on the NSE on back of heavy volumes. On comparison, Nifty 50 index was down 0.2% at 10,239 and the sector Nifty Metal index quoting 0.44% lower at 3,603. A combined 5.62 million shares changed hands on the counter on the NSE and BSE so far.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in