(THE NEWSMAN OF INDIA)
New Delhi, 27 May 2019
Hindustan Copper Limited, a Mini Ratna-I CPSE,has signed a Memorandum of
Understanding with the Ministry of Mines, Government of India, here today, outlining the performance targets for the financial year 2019-20. The MoU was signed between Anil Mukim, Secretary, Ministry of Mines, and Santosh Sharma, Chairman and Managing Director, HCL, in presence of Senior Officers of the Ministry. For the financial year 2019-20, target of Copper ore production is 51.5 lakh tonne which is 25% higher than the last year’s achievement of 41.22 lakh tonne. The target of ore production is in line with the HCL’s production ramp-up plan to 200 lakh tonne. The target for revenue from operations has been set at Rs 2000.0 crore and Capex at Rs 600.0 crore to be spent mainly for mine expansion projects of HCL.