Hind Copper plans Rs 2000cr spend for mines

Hindustan Copper (HCL) is planning to pump in about Rs 1500-2000 crore over the next 5-6 years in mine development to increase production.

"We have decided on a major thrust in mine development where we have competitive edge. Investment in new mines and development of existing ones could be between Rs 1500 and Rs 2000 crore," S Gupta,  CMD of HCL, said.

"The roadmap to mobilse funds is yet to be firmed up and would depend on the proposed restructuring plan pending before the Union Government," Gupta said.

Feasibility study is been carried out by UK-based SRK Consultants. The mandate for the consultant is to advise HCL to optimise existing mines. It will also advise on underground mining in Malanjkhand in Madhya Pradesh and new deposits at Banwas in Rajasthan.