HINDCOPPER
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Rites And HCL Sign MoU To Develop Critical Mineral Supply Chain
June 6 (Reuters) - RITES Ltd RITS.NS:
RITES LTD - AND HCL SIGN MOU TO DEVELOP CRITICAL MINERAL SUPPLY CHAIN
Source text: ID:nBSE9f6mFn
Further company coverage: RITS.NS
(([email protected];;))
June 6 (Reuters) - RITES Ltd RITS.NS:
RITES LTD - AND HCL SIGN MOU TO DEVELOP CRITICAL MINERAL SUPPLY CHAIN
Source text: ID:nBSE9f6mFn
Further company coverage: RITS.NS
(([email protected];;))
India to defend import curbs on copper in legal tussle with trade associations, sources say
Government argues sufficient domestic copper supply amid import curbs case
Trade bodies say curbs could create domestic supplier monopoly
Copper demand in India expected to double by 2030
This May 13 story was updated on May 14 to add comments from Bombay Metal Exchange in paragraphs 8-9
By Neha Arora
NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.
India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.
But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.
The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, reviewed by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.
"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."
The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.
"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.
The Bombay Metal Exchange was "compelled to seek judicial intervention" as the government did not defer the implementation of the quality control orders, President Sandeep Jain said in a statement.
"Given that India relies on imports for approximately 40% of its copper supply, this non-tariff barrier has inevitably led to supply shortages," Jain said, adding that during April to February the copper imports shortfall was 100,000 metric tons compared to the same period last year.
India's mines ministry did not respond to request for comment.
DEMAND SURGE
Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.
India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter
But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.
Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.
There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.
(Reporting by Neha Arora; Editing by Rachna Uppal and Christian Schmollinger)
(([email protected];))
Government argues sufficient domestic copper supply amid import curbs case
Trade bodies say curbs could create domestic supplier monopoly
Copper demand in India expected to double by 2030
This May 13 story was updated on May 14 to add comments from Bombay Metal Exchange in paragraphs 8-9
By Neha Arora
NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.
India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.
But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.
The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, reviewed by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.
"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."
The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.
"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.
The Bombay Metal Exchange was "compelled to seek judicial intervention" as the government did not defer the implementation of the quality control orders, President Sandeep Jain said in a statement.
"Given that India relies on imports for approximately 40% of its copper supply, this non-tariff barrier has inevitably led to supply shortages," Jain said, adding that during April to February the copper imports shortfall was 100,000 metric tons compared to the same period last year.
India's mines ministry did not respond to request for comment.
DEMAND SURGE
Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.
India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter
But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.
Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.
There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.
(Reporting by Neha Arora; Editing by Rachna Uppal and Christian Schmollinger)
(([email protected];))
India to defend import curbs on copper in legal tussle with trade associations, sources say
By Neha Arora
NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.
India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.
But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.
The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, seen by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.
"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."
The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.
"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.
The trade associations and India's mines ministry did not immediately respond to requests for comment.
DEMAND SURGE
Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.
India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter
But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.
Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.
There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.
(Reporting by Neha Arora; Editing by Rachna Uppal)
(([email protected];))
By Neha Arora
NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.
India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.
But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.
The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, seen by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.
"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."
The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.
"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.
The trade associations and India's mines ministry did not immediately respond to requests for comment.
DEMAND SURGE
Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.
India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter
But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.
Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.
There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.
(Reporting by Neha Arora; Editing by Rachna Uppal)
(([email protected];))
Hindustan Copper Resumes Ore Production At Kolihan Copper Mine
April 10 (Reuters) - Hindustan Copper Ltd HCPR.NS:
HINDUSTAN COPPER LTD - RESUMES ORE PRODUCTION AT KOLIHAN COPPER MINE
Source text: ID:nBSEbNy40L
Further company coverage: HCPR.NS
(([email protected];;))
April 10 (Reuters) - Hindustan Copper Ltd HCPR.NS:
HINDUSTAN COPPER LTD - RESUMES ORE PRODUCTION AT KOLIHAN COPPER MINE
Source text: ID:nBSEbNy40L
Further company coverage: HCPR.NS
(([email protected];;))
Indian delegation to visit Chile seeking stake in SQM's lithium projects, source says
By Neha Arora
NEW DELHI, April 4 (Reuters) - Indian officials will visit Chile next week to discuss plans for four state companies to take a stake in two lithium projects of the world's No. 2 producer of the metal, SQM SQMA.SN, a source said.
The world's fastest-growing major economy has ramped up efforts to secure a steady supply of lithium as demand rises for the metal used in electric vehicle batteries, key to emissions reduction efforts in the world's third-largest emitter.
Government-backed Khanij Bidesh India Ltd (KABIL), Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS are in talks with SQM for stakes of 20% in its Mount Holland and Andover projects in Australia, Reuters reported last week.
The Indian delegation will hold discussions with top SQM executives when it travels to Chile next week for a global copper conference, the source said, speaking on condition of anonymity as the talks were not public.
Executives from state-run Hindustan Copper HCPR.NS and leading private copper firms Hindalco Industries HALC.NS and JSW are also expected to visit Chile, the source said.
Hindustan Copper told Reuters it will send a few executives to Chile to attend the copper conference and hold other meetings.
The mines ministry, Hindalco, and JSW did not respond to emails from Reuters to seek comments.
India and Chile held talks this week to renew a preliminary pact on geology and mineral resources.
This week Chile's state-owned Codelco, the world's largest copper producer, said it would supply copper concentrates to the $1.2-billion smelter of India's Adani Group, which is the world's largest single-location plant of its kind.
Codelco has also signed a separate preliminary pact with Hindustan Copper to collaborate on exploring and processing minerals.
India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS Sterlite Copper smelter, which produced around 400,000 metric tons of the metal.
It has recently stepped efforts to strike overseas deals for access to critical minerals in resource-rich countries such as Argentina, Australia, and Chile.
New Delhi is also exploring an initial agreement with cobalt-rich Congo.
(Reporting by Neha Arora; Editing by Mayank Bhardwaj; Editing by Clarence Fernandez)
(([email protected];))
By Neha Arora
NEW DELHI, April 4 (Reuters) - Indian officials will visit Chile next week to discuss plans for four state companies to take a stake in two lithium projects of the world's No. 2 producer of the metal, SQM SQMA.SN, a source said.
The world's fastest-growing major economy has ramped up efforts to secure a steady supply of lithium as demand rises for the metal used in electric vehicle batteries, key to emissions reduction efforts in the world's third-largest emitter.
Government-backed Khanij Bidesh India Ltd (KABIL), Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS are in talks with SQM for stakes of 20% in its Mount Holland and Andover projects in Australia, Reuters reported last week.
The Indian delegation will hold discussions with top SQM executives when it travels to Chile next week for a global copper conference, the source said, speaking on condition of anonymity as the talks were not public.
Executives from state-run Hindustan Copper HCPR.NS and leading private copper firms Hindalco Industries HALC.NS and JSW are also expected to visit Chile, the source said.
Hindustan Copper told Reuters it will send a few executives to Chile to attend the copper conference and hold other meetings.
The mines ministry, Hindalco, and JSW did not respond to emails from Reuters to seek comments.
India and Chile held talks this week to renew a preliminary pact on geology and mineral resources.
This week Chile's state-owned Codelco, the world's largest copper producer, said it would supply copper concentrates to the $1.2-billion smelter of India's Adani Group, which is the world's largest single-location plant of its kind.
Codelco has also signed a separate preliminary pact with Hindustan Copper to collaborate on exploring and processing minerals.
India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS Sterlite Copper smelter, which produced around 400,000 metric tons of the metal.
It has recently stepped efforts to strike overseas deals for access to critical minerals in resource-rich countries such as Argentina, Australia, and Chile.
New Delhi is also exploring an initial agreement with cobalt-rich Congo.
(Reporting by Neha Arora; Editing by Mayank Bhardwaj; Editing by Clarence Fernandez)
(([email protected];))
Chile's Codelco to supply copper concentrate to India's Adani Group-owned smelter
April 2 (Reuters) - Chile's state-owned Codelco, the world's largest copper producer, said on Wednesday it would supply copper concentrates to India's Adani Group's $1.2 billion smelter, the world's biggest single-location plant of its type.
The supply will begin this year, said Codelco, whose chairman, Maximo Pacheco, met Adani Group chairman Gautam Adani at the conglomerate's headquarters in Ahmedabad in the western state of Gujarat.
Kutch Copper, as the smelter is formally known, is also located in Gujarat and its executives had told Reuters it would source concentrates from Chile and other countries.
The smelter began operations a year ago and last month entered into a joint venture to make wires and cables.
India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS 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 HCPR.NS produce copper in the country.
Codelco also separately signed a preliminary agreement with Hindustan Copper to cooperate on exploring and processing minerals.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza)
(([email protected]; Mobile: +91 9591011727;))
April 2 (Reuters) - Chile's state-owned Codelco, the world's largest copper producer, said on Wednesday it would supply copper concentrates to India's Adani Group's $1.2 billion smelter, the world's biggest single-location plant of its type.
The supply will begin this year, said Codelco, whose chairman, Maximo Pacheco, met Adani Group chairman Gautam Adani at the conglomerate's headquarters in Ahmedabad in the western state of Gujarat.
Kutch Copper, as the smelter is formally known, is also located in Gujarat and its executives had told Reuters it would source concentrates from Chile and other countries.
The smelter began operations a year ago and last month entered into a joint venture to make wires and cables.
India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS 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 HCPR.NS produce copper in the country.
Codelco also separately signed a preliminary agreement with Hindustan Copper to cooperate on exploring and processing minerals.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza)
(([email protected]; Mobile: +91 9591011727;))
EXCLUSIVE-Indian state firms seek stake in SQM's lithium projects in Australia, sources say
Indian companies seek 20% stake for $600 million, sources say
Coal India, Oil India, ONGC Videsh in talks with SQM
India's state-run company KABIL leads talks with SQM
By Neha Arora
NEW DELHI, March 28 (Reuters) - Four Indian state firms are in talks with Chilean miner SQM SQMA.SN to acquire a 20% stake in its two lithium projects in Australia for $600 million, four sources said, in New Delhi's biggest effort to secure supplies of the key EV battery metal.
Government-backed Khanij Bidesh India Ltd (KABIL) has partnered with Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS to seek the 20% stake in SQM's Mount Holland and Andover lithium projects in Western Australia, the sources said.
The sources did not wish to be named as the deliberations were not public.
SQM is the world's second-largest lithium producer.
India, the world's fastest-growing major economy, has intensified efforts to secure a steady supply of lithium, anticipating a surge in demand for the EV battery metal, which is critical to reducing carbon emissions from the world's third-largest emitter.
"This is so far India's biggest attempt to secure lithium supplies overseas," one of the sources said. "The due diligence is on, and the companies have expressed their interest with an initial offer."
KABIL, along with the three state companies, is in the process of appointing a mergers and acquisitions adviser for the deal, the sources said.
SQM, KABIL, Coal India, Oil India, and ONGC Videsh did not respond to Reuters' requests for comment.
India's plans to acquire stakes in SQM's projects have not been reported previously.
New Delhi formed KABIL - a joint venture between the state-owned National Aluminium Company, Hindustan Copper, and Mineral Exploration and Consultancy - a few years ago to acquire, develop, and process strategic minerals overseas for use in India.
India has recently stepped up efforts to secure overseas agreements for accessing critical minerals in resource-rich nations like Argentina, Australia, and Chile.
New Delhi is also exploring an initial agreement with cobalt-rich Congo.
Last year, KABIL signed an exploration and development agreement with a state-owned firm in Argentina for the exploration and mining of five lithium blocks.
Amid growing energy needs, India is trying to encourage EV production to reduce its reliance on fossil fuels.
EV sales in India accounted for just 2.5% of the 4.3 million cars sold in 2024, but their 20% growth rate outpaced the overall car market's 5% growth. Analysts expect sales to double in 2025 from 100,000 units in the previous year, mainly due to new launches.
(Reporting by Neha Arora; additional reporting by Melanie Burton in Melbourne; editing by Mayank Bhardwaj and Sonali Paul)
(([email protected];))
Indian companies seek 20% stake for $600 million, sources say
Coal India, Oil India, ONGC Videsh in talks with SQM
India's state-run company KABIL leads talks with SQM
By Neha Arora
NEW DELHI, March 28 (Reuters) - Four Indian state firms are in talks with Chilean miner SQM SQMA.SN to acquire a 20% stake in its two lithium projects in Australia for $600 million, four sources said, in New Delhi's biggest effort to secure supplies of the key EV battery metal.
Government-backed Khanij Bidesh India Ltd (KABIL) has partnered with Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS to seek the 20% stake in SQM's Mount Holland and Andover lithium projects in Western Australia, the sources said.
The sources did not wish to be named as the deliberations were not public.
SQM is the world's second-largest lithium producer.
India, the world's fastest-growing major economy, has intensified efforts to secure a steady supply of lithium, anticipating a surge in demand for the EV battery metal, which is critical to reducing carbon emissions from the world's third-largest emitter.
"This is so far India's biggest attempt to secure lithium supplies overseas," one of the sources said. "The due diligence is on, and the companies have expressed their interest with an initial offer."
KABIL, along with the three state companies, is in the process of appointing a mergers and acquisitions adviser for the deal, the sources said.
SQM, KABIL, Coal India, Oil India, and ONGC Videsh did not respond to Reuters' requests for comment.
India's plans to acquire stakes in SQM's projects have not been reported previously.
New Delhi formed KABIL - a joint venture between the state-owned National Aluminium Company, Hindustan Copper, and Mineral Exploration and Consultancy - a few years ago to acquire, develop, and process strategic minerals overseas for use in India.
India has recently stepped up efforts to secure overseas agreements for accessing critical minerals in resource-rich nations like Argentina, Australia, and Chile.
New Delhi is also exploring an initial agreement with cobalt-rich Congo.
Last year, KABIL signed an exploration and development agreement with a state-owned firm in Argentina for the exploration and mining of five lithium blocks.
Amid growing energy needs, India is trying to encourage EV production to reduce its reliance on fossil fuels.
EV sales in India accounted for just 2.5% of the 4.3 million cars sold in 2024, but their 20% growth rate outpaced the overall car market's 5% growth. Analysts expect sales to double in 2025 from 100,000 units in the previous year, mainly due to new launches.
(Reporting by Neha Arora; additional reporting by Melanie Burton in Melbourne; editing by Mayank Bhardwaj and Sonali Paul)
(([email protected];))
India's JSW to set up 0.5 mln T capacity copper smelter, source says
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)
(([email protected];))
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)
(([email protected];))
India's metal stocks fall as Trump tariff on China drags base metals
** 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)
** 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)
JSW Group to invest $301 mln in India copper mines in non-ferrous foray as steel prices dull
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)
(([email protected]; X: @MukherjeeHritam;))
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)
(([email protected]; X: @MukherjeeHritam;))
Hindustan Copper Appoints SWML As Mine Developer Cum Operator
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
(([email protected];;))
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
(([email protected];;))
Indian metal stock index closes at nine-month low on stronger dollar
** 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)
** 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)
Indian metal stocks rise as government mulls 'safeguard duty' for steel imports
** 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)
** 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)
India's aluminium, copper producers rise as China proposes to curb exports
** 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)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** 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)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Hindustan Copper Sept-Quarter Consol Profit 1.02 Bln Rupees
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
(([email protected];;))
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
(([email protected];;))
India's Nifty Metal index set for worst week in more than 2 years
** 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)
(([email protected];))
** 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)
(([email protected];))
Hindustan Copper Recommends Proposal For Sale Of Assets Of Copper Ore Tailing Beneficiation Plant
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
(([email protected];;))
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
(([email protected];;))
NALCO Says MoU Signed Between Kabil And Oil India For Collaboration In Projects & Exploration
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
(([email protected];))
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
(([email protected];))
Life Insurance Corp Of India Cuts Stake In Hindustan Copper To 6.086% From 8.171% - Exchange Filing
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
(([email protected];))
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
(([email protected];))
India's Hindustan Copper rises on Q1 profit jump
** 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)
(([email protected]; +918447554364;))
** 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)
(([email protected]; +918447554364;))
Hindustan Copper June-Quarter Consol Net Profit At 1.13 Billion Rupees
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
(([email protected];))
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
(([email protected];))
India's Hindustan Copper up mine development plans; interest from Adani, Hindalco
** 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)
** 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)
Adani, Hindalco show interest as Hindustan Copper plans to develop two mines, source says
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)
(([email protected]; +91 8805175330 ;))
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)
(([email protected]; +91 8805175330 ;))
Hindustan Copper March-Quarter Consol PAT From Cont. Ops Rises
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
(([email protected];))
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
(([email protected];))
Hindustan Copper Says Accident At Kotihan Copper Mine Of Khetri Copper Complex
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
(([email protected];;))
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
(([email protected];;))
Hindustan Copper Ltd - To Consider Fund Raise
Hindustan Copper Ltd HCPR.NS:
HINDUSTAN COPPER LTD - TO CONSIDER FUND RAISE
Source text for Eikon: ID:nBSEdLghK
Further company coverage: HCPR.NS
Hindustan Copper Ltd HCPR.NS:
HINDUSTAN COPPER LTD - TO CONSIDER FUND RAISE
Source text for Eikon: ID:nBSEdLghK
Further company coverage: HCPR.NS
India's Hindustan Copper hits over 13-year high
** Shares of Hindustan Copper HCPR.NS up 4%
** Stock rose as much as 8.2% to 394 rupees, highest since Nov. 15, 2010
** 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 on track for a second consecutive session of gain, if trend holds
** More than 34.2 mln shares change hands by 1:57 p.m. IST, 2.1x of 30-day avg
** Including session's gain, stock is up 38.3% YTD vs 0.7% and 47.9% rise in peers Hindalco Industries HALC.NS and Vedanta VDAN.NS, respectively
(Reporting by Navamya Ganesh Acharya in Bengaluru)
(([email protected]; +91 8805175330 ;))
** Shares of Hindustan Copper HCPR.NS up 4%
** Stock rose as much as 8.2% to 394 rupees, highest since Nov. 15, 2010
** 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 on track for a second consecutive session of gain, if trend holds
** More than 34.2 mln shares change hands by 1:57 p.m. IST, 2.1x of 30-day avg
** Including session's gain, stock is up 38.3% YTD vs 0.7% and 47.9% rise in peers Hindalco Industries HALC.NS and Vedanta VDAN.NS, respectively
(Reporting by Navamya Ganesh Acharya in Bengaluru)
(([email protected]; +91 8805175330 ;))
Hindustan Copper Says During FY 2023-24 Achieved MIC Of 27,404 Tonne
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
(([email protected];;))
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
(([email protected];;))
India to send teams to Chile seeking lithium and copper assets, source says
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)
(([email protected];))
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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Adani's $1.2 billion copper smelter to import concentrates from Peru, Chile, Australia
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)
(([email protected]; Twitter: @MayankBhardwaj9;))
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)
(([email protected]; Twitter: @MayankBhardwaj9;))
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What does Hindustan Copper do?
Hindustan Copper Limited is India's only vertically integrated copper producing company, engaged in activities from mining to refining and casting of copper into saleable products like cathodes, bars, and rods.
Who are the competitors of Hindustan Copper?
Hindustan Copper major competitors are KIOCL, Gravita India, GMDC, Sandur Manganese, Ashapura Minechem, Raghav Productivity, OMDC. Market Cap of Hindustan Copper is ₹24,751 Crs. While the median market cap of its peers are ₹7,523 Crs.
Is Hindustan Copper financially stable compared to its competitors?
Hindustan Copper seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Hindustan Copper pay decent dividends?
The company seems to pay a good stable dividend. Hindustan Copper latest dividend payout ratio is 30.13% and 3yr average dividend payout ratio is 30.08%
How has Hindustan Copper allocated its funds?
Companies resources are allocated to majorly unproductive assets like Capital Work in Progress
How strong is Hindustan Copper balance sheet?
Balance sheet of Hindustan Copper is strong. But short term working capital might become an issue for this company.
Is the profitablity of Hindustan Copper improving?
The profit is oscillating. The profit of Hindustan Copper is ₹467 Crs for TTM, ₹295 Crs for Mar 2024 and ₹295 Crs for Mar 2023.
Is the debt of Hindustan Copper increasing or decreasing?
Yes, The net debt of Hindustan Copper is increasing. Latest net debt of Hindustan Copper is ₹98.36 Crs as of Mar-25. This is greater than Mar-24 when it was ₹73.75 Crs.
Is Hindustan Copper stock expensive?
Hindustan Copper is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of Hindustan Copper is 53.21, while 3 year average PE is 59.09. Also latest EV/EBITDA of Hindustan Copper is 34.78 while 3yr average is 32.09.
Has the share price of Hindustan Copper grown faster than its competition?
Hindustan Copper has given lower returns compared to its competitors. Hindustan Copper has grown at ~18.64% over the last 8yrs while peers have grown at a median rate of 26.82%
Is the promoter bullish about Hindustan Copper?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Hindustan Copper is 66.14% and last quarter promoter holding is 66.14%.
Are mutual funds buying/selling Hindustan Copper?
The mutual fund holding of Hindustan Copper is increasing. The current mutual fund holding in Hindustan Copper is 2.89% while previous quarter holding is 2.8%.