Hindustan Copper Ltd (HCL) has appointed South West Mining Limited (SWML) as the Mine Developer cum Operator (MDO) for the re-opening and expansion of the Rakha Copper Mine, the development of a new underground mine at Chapri, and the commissioning of a new concentrator plant. The agreement spans 20 years, with an option to extend it for another decade.
The Mining Services Agreement was officially signed in Ranchi in the presence of Union Minister of Coal and Mines, G Kishan Reddy, alongside senior officials, including Ghanshyam Sharma, CMD, HCL; Sanjiv Kumar Singh, Director (Mining), HCL; Vivek Sharma, Director, Ministry of Mines; Anil Sood, Whole Time Director, SWML; Abhisek Jain, CFO, SWML; Sanjay Singh, AVP (Operations & Projects), SWML; and S S Sethi, ED, ICC/HCL.
The Rakha Copper Mine, which has remained inactive since 2001 due to unviable operations, is set to resume mining activities under the new collaboration. The project will involve significant developments, including the construction of a new concentrator plant to enhance production capabilities.
The Letter of Award (LoA) for this strategic partnership was issued to SWML on November 25, 2024. The total capital expenditure (CAPEX) for the project is estimated at ₹2,700 crore, with the initiative expected to generate approximately 10,000 direct and indirect employment opportunities, contributing significantly to regional development and economic growth.
Union Minister G Kishan Reddy lauded the partnership, emphasizing the importance of the project in bolstering India’s domestic copper production and reducing dependency on imports.
