HINDCOPPER

By Neha Arora

NEW DELHI, March 20 (Reuters) - India's steel-to-power conglomerate JSW Group plans to set up a 500,000 metric ton capacity copper smelter in the eastern state of Odisha by 2028/29 with feedstock of copper concentrate from Peru and Chile, a source directly aware of the matter told Reuters on Thursday.

In January, JSW said it was foraying into the copper business with a 26-billion-rupee ($301.22 million) investment to operate two copper mines from Hindustan Copper HCPR.NS for a period of 20 years, with the option to extend it for another decade.

The group now plans to set up its own smelter facility in Odisha with an investment of around 120 billion rupees and scale up the capacity to 1 million metric tons by 2033/34, the source said, declining to be identified as details about the proposed smelter are not public.

A JSW spokesperson redirected queries from Reuters to the January statement about the copper foray.

With this expansion, JSW will compete with Indian billionaire Gautam Adani's group that has set up a $1.2 billion copper smelter, the world's biggest single-location plant of its type in the western state of Gujarat.

JSW plans to feed its planned electric vehicle and battery manufacturing facilities with the copper produced at the smelter, the source added. Some of the concentrate supply will come from Hindustan Copper, the source said.

The chief executive of JSW's copper business, Pankaj Kumar, will be travelling to Chile early next month to meet with suppliers for potential copper concentrate deals, the source said.

India, which is dependent on copper imports to meet shortfalls, had listed copper among the identified 30 critical minerals in 2023 as part of the country's efforts towards a green energy transition.

India's copper imports have surged since the 2018 closure of Vedanta's Sterlite Copper smelter, which produced about 400,000 metric tons of the metal.

Currently only Hindalco Industries HALC.NS, part of India's Aditya Birla group, and state-run miner Hindustan Copper Ltd produce copper in the country.

India's refined copper production is estimated at around 555,000 metric tons per year against domestic consumption of more than 750,000 metric tons. India imports around 500,000 metric tons of copper a year to meet the shortfall.

New Delhi's drive towards clean energy and electric vehicles, and other similar shifts, are expected to double the country's copper demand by 2030, according to industry estimates.

($1 = 86.3150 Indian rupees)

(Reporting by Neha Arora; editing by David Evans)

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** Metal stocks in India slide as much as 5%, tracking a decline in most base metal prices

** Tata Steel TISC.NS, Hindalco HALC.NS, Vedanta VDAN.NS down 2.2%, 2.1% and 3.8%, respectively

** Base metal prices fall as U.S. President Donald Trump's 10% tariff on imports from top metals consumer China fuel trade war concerns

** The dollar surges vs other currencies on trade war fears, further weighing on base metal prices

** Nifty Metal .NIFTYMET index sheds over 2%, with Jindal Steel JNSP.NS, Steel Authority of India SAIL.NS, National Aluminium Co NALU.NS, and Hindustan Zinc HZNC.NS down 3-5%

** .NIFTYMET down 6.2% so far in 2025, underperforming benchmark Nifty 50 50 .NSEI which is down 1.5%

** Metal index up 8.4% in 2024 vs 8.8% gains in benchmark Nifty 50 index .NSEI

(Reporting by Vivek Kumar M)

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Adds executive comments, background in paragraphs 3 to 5

Jan 27 (Reuters) - India's steel-to-power conglomerate JSW Group will invest 26 billion rupees ($301.2 million) to set up operations at two copper mines, the company said on Monday, foraying into mining non-ferrous metals as steel prices fall.

The billionaire Sajjan Jindal-led group has won two blocks of copper mines in the eastern mineral-rich state of Jharkhand from Hindustan Copper HCPR.NS for a period of 20 years, with the option to extend it for another decade.

"Venturing into non-ferrous metals, particularly copper, is a strategic move," said Parth Jindal, the managing director of JSW Paints and the IPO-bound JSW Cement.

Steel production in India has been hit by low prices, weak demand from top consumer China and cheap Chinese steel flooding domestic markets -- the effect of which has led to the group's flagship firm JSW Steel JSTL.NS missing profit estimates for the past four quarters in a row.

With the expansion, JSW Steel will directly compete with Vedanta VDAN.NS, Hindalco HALC.NS, Hindustan Copper and Adani Copper - all of which currently dig up the brown metal used to make cables and wires.

Once ramped up, the mines will have a copper ore capacity of 3 million tonnes per annum (MTPA) and are expected to be part-operational in the second half of the fiscal year 2027, the group said in a statement.

($1 = 86.3290 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Savio D'Souza)

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Jan 10 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• APPOINTS SWML AS MINE DEVELOPER CUM OPERATOR

• RE-OPENING OF RAKHA MINE IN JHARKHAND

Source text: ID:nBSE1VTkFr

Further company coverage: HCPR.NS

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** Indian metal stocks sub index .NIFTYMET closes down 3.14%, lowest in nearly 9 months

** Sub index under pressure as a firmer dollar weighs on metal stocks MET/L nL1N3O203T

** USD at near 2-year high, making greenback-priced commodities more expensive for holders of other currencies

** Indian rupee INR=IN weakened to lifetime low on the day

** Hindustan Copper HCPR.NS top index loser; closed down 5.8% at 235.60 rupees ($2.75)

** Hindustan Zinc HZNC.NS closed down 4.76% at 446.80 rupees

** Sub-index has lost ~14.5% in 6 months

($1 = 85.7910 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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** Indian metal stocks .NIFTYMET climb 1.6% to one month high, set to snap six-session losing streak

** Index is top sectoral gainer, with 12 of 15 members higher

** India's Directorate General of Trade Remedies starts safeguard probe on imports of non-alloy and alloy steel flat products

** Tata Steel TISC.NS up 3.2% and JSW Steel JSTL.NS ~2%

** The duo could benefit most from a safeguard duty, says Investec

** YTD, metals index gains 12.5% vs Nifty 50's .NSEI ~10% rise

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of India's copper and aluminium manufacturers rise between 3% and 6%

** Shares of Hindalco HALC.NS up 4%, National Aluminium Co NALU.NS up 6.6%, and Vedanta VDAN.NS rises 3.3%

** China's finance ministry last week proposed to reduce or cancel export tax rebates for commodities including copper and aluminium, effective Dec 1

** China's move has lifted global aluminium prices as the move will likely reduce supply of metals globally

(Reporting by Sethuraman NR)

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Nov 11 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• SEPT-QUARTER CONSOL PROFIT 1.02 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 5.18 BILLION RUPEES

Source text: ID:nBSE37gnpK

Further company coverage: HCPR.NS

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** India's Nifty Metal index .NIFTYMET sheds 2.4%; eyes worst week since mid-June 2022

** Hindustan Copper HCPR.NS and Hindustan Zinc HZNC.NS, top two pct losers, down ~5% and ~6%, respectively

** LME copper was on track for its fourth straight week of decline; LME zinc falls 1.4% on the day MET/L

** Index heavyweights Tata Steel TISC.NS and Hindalco HALC.NS down about 2% each

** JSW Steel JSTL.NS retreats 1.8% ahead of quarterly results

** Weaker broader market is pressurizing metals on the day, absence of material stimulus announcements from top consumer China continues to drag sentiment - Satyadeep Jain, research analyst at Ambit Capital

** YTD NIFTYMET has risen 13.5% vs 11% gain in benchmark Nifty 50 .NSEI

** On the day, Nifty 50 is down 1%

(Reporting by Hritam Mukherjee in Bengaluru)

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Sept 25 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• RECOMMENDED PROPOSAL FOR SALE OF ASSETS OF COPPER ORE TAILING BENEFICIATION PLANT

Source text for Eikon: ID:nBSEb6NyKZ

Further company coverage: HCPR.NS

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Aug 28 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NALCO - MOU SIGNED BETWEEN KABIL AND OIL INDIA FOR COLLABORATION IN PROJECTS & EXPLORATION

Further company coverage: NALU.NS

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Aug 19 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• LIFE INSURANCE CORP OF INDIA CUTS STAKE IN HINDUSTAN COPPER TO 6.086% FROM 8.171% - EXCHANGE FILING

Source text for Eikon: ID:nBSE7SSBDf

Further company coverage: HCPR.NS

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** Shares of Hindustan Copper HCPR.NS rise 4.7% to 316.9 rupees

** The copper firm's June-quarter profit from cont. ops jumps over twofold, rev from ops up 33%

** Stock logs its biggest intraday pct gain since early-June

** Over 4.5 mln shares traded in first 10 minutes of trading, vs 30-day avg of 6.2 mln shares

** Including session's gains, stock up ~15% YTD vs ~15% rise in the Nifty metal index .NIFTYMET

(Reporting by Manvi Pant in Bengaluru)

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Aug 12 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER JUNE-QUARTER CONSOL NET PROFIT 1.13 BILLION RUPEES

• HINDUSTAN COPPER JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 4.94 BILLION RUPEES

Further company coverage: HCPR.NS

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** Shares of Hindustan Copper HCPR.NS jump as much as 3.5% to 332.3 rupees

** The state-owned co plans to develop two of its copper mines for which Adani Enterprises ADEL.NS and Hindalco Industries HALC.NS have shown preliminary interest

** Stock set for a second session of gains, while heading towards a second month of losses, if trend holds

** Stock has jumped ~23% YTD vs rise of 12.8% and ~80%, respectively, in peers Hindalco HALC.NS and Vedanta VDAN.NS,

** Nifty metal index .NIFTYMET up 0.5%

** It has risen ~25% so far this year

(Reporting by Yagnoseni Das in Bengaluru)

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By Neha Arora

BENGALURU, June 24 (Reuters) - India's state-owned Hindustan Copper HCPR.NS plans to develop two of its copper mines for which Adani Enterprises ADEL.NS and Hindalco Industries HALC.NS have shown preliminary interest, a source with direct knowledge of the matter said.

"Adani and Hindalco attended the pre-bid conference earlier today," the source said, declining to be identified due to the sensitive nature of discussions.

Both mines with a combined capacity of 3 million metric tons are located in the eastern state of Jharkhand. One of the mines called Rakha has been closed since 20 years.

"The Rakha mine was becoming costlier to operate, so we want to give it to a developer," the source added.

Both Adani Enterprises and Hindalco did not immediately respond to a Reuters requests for comment.

(Reporting by Neha Arora in New Delhi; Writing by Navamya Ganesh Acharya in Bengaluru; Editing by Vijay Kishore)

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May 24 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• MARCH-QUARTER CONSOL PAT FROM CONTOPS 1.25 BILLION RUPEES VERSUS PROFIT 1.32 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 5.65 BILLION RUPEES VERSUS 5.60 BILLION RUPEES

Further company coverage: HCPR.NS

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May 15 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER LTD - ACCIDENT AT KOTIHAN COPPER MINE OF KHETRI COPPER COMPLEX, A UNIT OF HINDUSTAN COPPER

• HINDUSTAN COPPER LTD - DUE TO ROPE SNAPPING AND COLLISION OF CAGE AT PIT BOTTOM BUFFER RESULTED IN AN ACCIDENT DURING MAN WINDING

• HINDUSTAN COPPER LTD- THIS CAUSED ONE FATAL AND FOURTEEN PERSONS SUFFERED WITH SERIOUS BODILY INJURY

• HINDUSTAN COPPER LTD - CAUSED ONE FATAL AND 14 PERSONS WERE SUFFERED WITH SERIOUS BODILY INJURY

• HINDUSTAN COPPER LTD - COMPANY IS TAKING STEPS TO BRING NORMALCY AND RESUME OPERATIONS

• HINDUSTAN COPPER LTD- TAKING STEPS TO BRING NORMALCY AND RESUME OPERATIONS

Source text for Eikon: ID:nBSE7yLM0

Further company coverage: HCPR.NS

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Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER LTD - TO CONSIDER FUND RAISE

Source text for Eikon: ID:nBSEdLghK

Further company coverage: HCPR.NS

Adds Nifty metal index in last bullet

** Shares of Hindustan Copper HCPR.NS jump as much as 8.2% to 394 rupees, highest since Nov. 15, 2010

** Stock last up 4%, with trading vol 2x the 30-day avg, set for second consecutive session of gain

** Reuters could not immediately ascertain the reason for stock move

** Separately, three-month copper CMCU3 on the London Metal Exchange hit a two-year high on Friday MET/L

** HCPR has been trading above its 100-day and 200-day moving averages since last May

** Stock has jumped 38.3% YTD vs 0.7% and 47.9% rise in peers Hindalco HALC.NS and Vedanta VDAN.NS, respectively

** Nifty metal index .NIFTYMET up 0.3% on the day, led by 2.7%-4.7% gains in Hindustan Zinc HZNC.NS, Jindal Stainless JIST.NS and Welspun WGSR.NS as global metal prices rise

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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April 2 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• DURING FY 2023-24 ACHIEVED MIC (METAT IN CONCENTRATE) PRODUCTION OF 27,404 TONNE

• ORE PRODUCTION OF 3.78 MILLION TONNE IN FY 2023-24, 13% HIGHER THAN LAST YEAR

Source text for Eikon: ID:nBSE4L5nct

Further company coverage: HCPR.NS

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By Neha Arora

NEW DELHI, March 28 (Reuters) - India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi's efforts to speed up the energy transition stoke demand for critical minerals.

Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems in the push away from fossil fuels.

As part of India's drive to explore overseas for mineral assets, state firms National Aluminium Company, Hindustan Copper and unlisted Mineral Exploration and Consultancy have set up a company called Khanij Bidesh India (KABIL).

"KABIL has to send a delegation to Chile in April," said the source, who did not wish to be named as details of the plan have not been made public.

"We are interested in buying assets. We are trying to facilitate private and government-owned companies to acquire assets in other countries as well."

The government is separately sending a delegation to look for copper assets, the source said.

The federal Ministry of Mines and KABIL did not respond to Reuters emails for comments.

India, the world's third-biggest emitter of greenhouse gases behind China and the United States, has pledged to achieve a net-zero carbon emission target by 2070 and increase the share of renewables in its energy mix to 50% by 2030.

In January, KABIL signed a 2-billion-rupee ($24.01 million) lithium exploration pact for five blocks in Argentina. The deal, signed with an Argentinian state-run enterprise, gives KABIL exploration and development rights for commercial production.

KABIL, which is currently setting up an office in Argentina, is also in talks with another company in the Latin American country for lithium exploration, the source said.

At the same time, KABIL is talking to the Australian government to help appoint a consultant to restart due diligence that would pave the way for a lithium block acquisition in the country, the source said.

India is also looking at Africa for copper, cobalt and other critical minerals, V.L. Kantha Rao, the most senior official at the Ministry of Mines, said last week.

India is in the process of auctioning 38 critical and strategic minerals blocks, including lithium.

($1 = 83.30 rupees)

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Sonali Paul)

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By Neha Arora

NEW DELHI, March 1 (Reuters) - Indian billionaire Gautam Adani's group will source copper concentrates from Peru, Chile and Australia to kick-start its $1.2 billion copper smelter, the world's biggest single-location plant of its type, a top company official said.

Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, expects to start its operations in the next few weeks.

The plant, based in the western city of Mundra in Gujarat state, will have an initial capacity of 500,000 metric tons, and the company will scale it up to 1 million metric tons by 2028/29.

The company is also open to acquiring copper assets in India and overseas, Vinay Prakash, managing director of KCL told Reuters in an interview on Thursday, without giving details.

KCL would import copper concentrates from both global miners and international traders, Prakash said.

"The sourcing involves a strategic mix of short and long-term arrangements with miners and traders worldwide, including Peru, Chile, and Australia," Prakash said.

Prakash said the copper smelter would help boost domestic supplies of the metal. India's demand for copper has been robust, driven by the construction, transport and power sectors.

During the first nine months of the fiscal year that began in April, India imported $2.2 billion worth of copper ore and concentrate from countries such as Peru, Chile, Australia and Indonesia.

India's copper imports have surged since the 2018 closure of Vedanta's Sterlite Copper smelter, which produced about 400,000 metric tons of the metal.

Currently, only Hindalco Industries HALC.NS, part of India's Aditya Birla group, and state-run miner Hindustan Copper Ltd produce copper in the country.

India's refined copper production is estimated at around 555,000 metric tons per year against domestic consumption of more than 750,000 metric tons. India imports around 500,000 metric tons of copper a year to meet the shortfall.

New Delhi's drive towards clean energy and electric vehicles, and other similar shifts, are expected to double the country's copper demand by 2030, Prakash said.

(Reporting by Neha Arora; Additional reporting by Mai Nguyen in Hanoi; Editing by Mayank Bhardwaj and Jan Harvey)

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Feb 13 (Reuters) - Hindustan Copper Ltd HCPR.NS:

• HINDUSTAN COPPER DEC-QUARTER CONSOL NET PAT 630 MILLION RUPEES VERSUS PROFIT 802 MILLION RUPEES

• HINDUSTAN COPPER LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.99 BILLION RUPEES VERSUS 5.57 BILLION RUPEES

Source text for Eikon: ID:nBSE3MfGMJ

Further company coverage: HCPR.NS

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** Shares of National Aluminium Co (Nalco) NALU.NS and Hindustan Copper HCPR.NS rise nearly 5% and 4%,respectively

** Nalco on Monday said KABIL and Argentina’s CAMYEN SE sign agreement for exploration and mining of lithium

** KABIL, the JV company was set up with participation of Nalco, Hindustan Copper and Mineral Exploration Co for exploration of critical minerals

** Nalco hits record high and on track for a 3rd straight session of gains

** HCPR on track to snap a 4-day losing streak, if trend holds

** Avg of analysts covering NALU have rated it "buy" - LSEG data; median PT of 101 rupees is below current market price

** NALU had risen 64% last year; HCPR had marked its biggest yearly gain in 2023 (+150%)

(Reporting by Yagnoseni Das in Bengaluru)

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BENGALURU, Jan 15 (Reuters) - India's state-owned firm Khanij Bidesh India Ltd (KABIL) signed a lithium exploration pact for five blocks in Argentina, the federal Ministry of Mines said on Monday.

(Reporting by Varun Vyas and Neha Arora)

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Dec 22 (Reuters) - Bhagawati Oxygen Ltd BHOX.BO:

• ONE TIME DISPUTE SETTLEMENT OF PENDING ARBITRATION AWARD DATED 1 JUNE, 2022 TO HINDUSTAN COPPER

• SUBMISSION OF REQUEST FOR ONE TIME DISPUTE SETTLEMENT OF PENDING ARBITRATION AWARD DATED 1 JUNE, 2022 TO HINDUSTAN COPPER

• EXPECTED FINANCIAL IMPLICATION AT 48.3 MILLION RUPEES

Source text for Eikon: ID:nBSE6KbCyl

Further company coverage: BHOX.BO

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** Shares of Hindustan Copper HCPR.NS rise as much as 4.95% to 206.80 rupees, highest price since Nov. 23, 2012

** The copper mining co's shares have gained 41.2% since Nov. 10, when it reported Q2 profit rise nFWN3CB3I8

** Share price above 50-day, 100-day and 200-day simple moving averages since Nov. 13

** Stock on track for a fifth consecutive session of gain, if trend holds

** More than 23.5 mln shares change hands by 1:07 p.m. IST, 2.3x of 30-day avg

** This is the twelfth time this year that more than 20 mln shares have traded in a single day

** Stock up ~87% YTD

(Reporting by Ashish Chandra in Bengaluru)

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Nov 21 (Reuters) - South West Pinnacle Exploration Ltd SWPI.NS:

• GETS WORK ORDER FROM HINDUSTAN COPPER LTD

• AGGREGATE VALUE OF WORK ORDER IS 380 MILLION RUPEES

Source text for Eikon: ID:nNSE3y7pYH

Further company coverage: HCPR.NSSWPI.NS

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** Shares of Hindustan Copper HCPR.NS rise 7.4% to 161 rupees

** Stock on track for gains for third straight day, if trends hold

** Sept-qtr net profit more than doubled to 607 mln rupees ($7.29 million), copper producer said late on Friday

** Rev from ops increased 79.8% to 3.81 bln rupees, outpacing 53% rise in total expenses

** Stock currently trading above its 100-, 200-day simple moving avg

** More than 12.7 mln shares traded as of 10:22 a.m. IST, 2.7x their 30-day moving avg

** HCPR last up 5.9% adding to YTD gains of 44.9%

($1 = 83.2710 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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