After a gap of over nine months, Hindustan Copper’s (HCL's) Surda mine in Jharkhand has resumed operation last week. The mine production is expected to reach 1,250 tonnes per day (tpd) in August from the resumption level of 850 tpd. The company resolved its dispute with its mine operator after paying off Rs 6 crore this month to IRL for its losses during the seven-month long closure of the mine.
The revival of operations at Surda one of HCL's productive copper mines is likely to boost HCL's profitability in the remaining three quarters of FY16. With closure of the mines since September 2014, the company's net plunged 76% to Rs 68 crore in 2014-15 from Rs 286 crore in 2013-14.
Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.
