Hindustan Copper Ltd Set to Surpass Capex Goals Amid Increasing Demand
Hindustan Copper Ltd is on track to exceed its Rs 350 crore capital expenditure target for the current fiscal year. The company is continuing its investments in mine expansion and expects substantial growth in copper demand fueled by the renewable energy, transportation, and construction sectors. Hindustan Copper Ltd reported in a BSE filing that it is poised to surpass this year’s capex target, mirroring last year’s performance. The ongoing investment efforts are focused on enhancing its mining operations.
The company has issued a tender for appointing a developer for the Rakha mine, signaling new investments. It anticipates strong copper demand driven by the growth in renewable energy, transportation, and construction sectors, with analysts predicting double-digit growth in these areas in the near term.
India’s current per capita refined copper consumption is 0.5 kg, which is significantly lower than the global average of 3.2 kg per capita. Given India’s aggressive growth and expected double-digit expansion, domestic copper demand is projected to outpace global demand, according to the PSU. Hindustan Copper Ltd operates under the Ministry of Mines and has facilities for producing and marketing copper concentrate, copper cathodes, continuous cast copper rod, and byproducts.