India’s state copper miner plans $800m expansion
While at one end elections in one part of the southern India is fought on STERLITE COPPER and it expansion plans we have Hindustan Copper going on an expansion drive. A country like India can handle this contradiction.
Hindustan Copper is small player compared to Sterlite. Its production is a mere 40,000 tonnes of copper per year. With Sterlite Closure the demand for copper has sky rocketed. A developing country like India has enormous demand for copper on a continuous basis. It makes sense to be self sufficient rather than relying on imports. Unfortunately Sterlite, which had the capacity to meet Indias copper needs had been shut down for many month. Will Hindustan Copper step in?
Hindustan Copper plans to increase production to 200,000 tonnes by 2025. So this expansion include construction of a new underground mins in the state of Madhya Pradesh and they are planning to expand into Jharkhand and Rajasthan
Considering that Indias development is hectic there is no way Hindustan Copper will be able to fulfill the demand by the country. Last you the India consumed close to 7 lakh tonnes of copper. This was used primarily in electrical, construction, technology and transport.
With the increase in Industry – Community conflicts with a government that not given much of impetus to the sector thus far the copper industry is likely to languish and rely on imports to cater to domestic demands.