Shri Satish Chandra Dubey, Hon'ble MoS - Coal and Mines inaugurates HCL's Surda Mine Operations

Shri Satish Chandra Dubey, Hon'ble Minister of State for Coal and Mines, Govt. of India inaugurated the resumption of Surda Mine operations today in the presence of Shri Ramdas Soren, Minister of Water Resources Department, Minister of Higher Education and Minister of Technical Education, Government of Jharkhand, Shri Bidyut Varan Mahato, Hon'ble MP, Jamshedpur, along with Shri Ghanshyam Sharma, CMD, HCL, Shri Sanjiv Kumar Singh, Director (Mining), HCL, Shri Vivek Kumar Bajpayee, Joint Secretary, Ministry of Mines, Govt. of India, Mr. Shaba Alam Ansari, Divisional Forest Officer, Jamshedpur, Shri Shyam Sunder Sethi, E.D. and Unit Head, ICC.

Also present on the occasion were senior administrative officials and dignitaries from Central and State Government, Panchayat representatives, village Heads, workers and several locals from adjoining villages.

Shri Satish Chandra Dubey, Hon'ble Minister of State for Coal and Mines, in his address said that resumption of Surda Mine operation is a significant step towards making the nation self reliant in Copper. Surda Mine operation will generate employment, revive the local economy and generate about Rs 100 Cr revenue per annum. HCL has plans to enhance the mining capacity of Surda mine from the current level of 0.4 mtpa to 0.9 mtpa in the next seven years. Jharkhand Cabinet has approved lease extension for the Kendadih and Rakha on 20.09.2024. Reopening of Kendadih and Rakha mines is on the cards this year which will lead to 2000 direct employment and 10,000 indirect employment among the local populace and triple the production of Indian Copper Complex.

Hon'ble Minister of State for Coal and Mines stated that with the cooperation of Jharkhand Government and Central Ministry officials the extension of Surda Mining Lease was approved by Cabinet of Jharkhand Government on 29.08.2024 and the lease deed was executed on 26.09.2024.

Shri Ghanshyam Sharma, CMD, Hindustan Copper Ltd, said that resumption of Surda mine operation will provide direct employment to around 1100 and indirect employment to about 5000 among the local populace. This will also increase CSR and welfare activities in and around the neighboring villages. A Capital investment of Rs 50 Crore will be made by HCL for mining operation during the Fiscal Year 2024-25.

Shares of Hindustan Copper Limited was last trading in BSE at Rs. 311.75 as compared to the previous close of Rs. 330.70. The total number of shares traded during the day was 695850 in over 14067 trades.

The stock hit an intraday high of Rs. 331.30 and intraday low of 308.70. The net turnover during the day was Rs. 219944795.00.

Source : Equity Bulls

Keywords

HindustanCopper INE531E01026 HCL SurdaMine MineOperations Inauguration