Hindustan Copper Ties Up with Chile’s Codelco to Scale Production

Hindustan Copper Ltd (HCL) plans to increase its copper ore production capacity from 3.47 million tonnes to 12 million tonnes per annum by 2030-31. The company is focusing on deeper exploration and operational upgrades as part of this long-term expansion.

Partnership with Codelco

HCL has signed a memorandum of understanding (MoU) with Chile’s state-owned copper company, Codelco. The agreement focuses on technical collaboration in exploration, mining, beneficiation, workforce training, and process improvements.

A 5-member Codelco team is currently in India and will continue visits to HCL sites until July 11, 2025. The delegation, led by Codelco’s Director of South Chile & International Explorations, is evaluating equipment, reviewing workflows, and inspecting various mining operations. An interim report is expected by July 10, 2025.

HCL Delegation to Visit Chile

In the coming months, senior officials from HCL will visit several major Codelco sites in Chile. These include Chuquicamata, El Teniente, Andina, Salvador, Los Bronces, and Radomiro Tomic. The visits are meant to observe mining methods and technical practices across different environments.

The Malanjkhand Copper Project in Madhya Pradesh, now operating as an underground mine, remains central to HCL’s expansion. In FY25, the project produced 2.73 million tonnes of ore, slightly above the target. The plan is to raise its capacity to 5 million tonnes annually.

CAG Report on Operational Lapses

A performance audit by the Comptroller and Auditor General (CAG) in December flagged several lapses between 2016-17 and 2021-22. These included poor contractor selection and planning delays, leading to a ₹1,051 crore revenue loss and ₹538 crore cost overrun.

Read more: RITES and Hindustan Copper Sign MoU for Mineral Supply Chain Development!

Hindustan Copper Share Price Performance 

As of 10:36 AM on July 7, 2025, Hindustan Copper share price was at ₹275.80, a 0.49% decline. The stock is up 16.01% over the past 6 months and down 19.41% over the past year.

Conclusion

The partnership with Codelco forms part of HCL’s efforts to address past inefficiencies and meet future production goals. Both parties are currently engaged in knowledge exchange, with discussions open to broader collaboration in the future.

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