HCL awards Rs 2,700 crore contract for mine development

The state-run Hindustan Copper Limited (HCL) has awarded a Rs 2700 crore contract to South West Mining Limited (SWML) for the re-opening and expansion of Rakha Copper Mine, development of a new underground mine at Chapri, and commissioning of a new concentrator plant. The mining operation at Rakha Mine, located in East Singhbhum, Jharkhand, was suspended in 2001 due to unviable operations. The 20-year contract with SWML can be extended by another 10 years. This project will result in the re-opening of Rakha Mine after over 20 years, creating new job opportunities and stimulating local economic growth. The project will also contribute to the growth of the country’s copper production, which is an essential component of the country’s industrial and infrastructure development.