{"id":583150,"date":"2017-11-12T23:56:48","date_gmt":"2017-11-12T23:56:48","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=583150"},"modified":"2017-11-12T23:56:48","modified_gmt":"2017-11-12T23:56:48","slug":"indias-only-copper-miner-plans-to-nearly-triple-production-at-largest-mine-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=583150","title":{"rendered":"India’s only copper miner plans to nearly triple production at largest mine"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

By Andrew Topf<\/a><\/span> <\/p>\n

Hindustan Copper is making moves to expand its production and operations in India where the company has a monopoly on copper mining.<\/p>\n

The state-run company said in a filing on the Bombay Stock Exchange that its board has increased its borrowing limit and approved the formation of a joint venture with National Aluminum Company and Mineral Exploration Corporation for exploring and mining strategic metals abroad, according to Business Standard<\/a>.<\/p>\n

It plans to invest about $700 million in six expansion projects including a near tripling of production at its largest mine, Malanjkhand in Madhya Pradesh. The mine would up its production from 2 million tonnes annually to 5.2 million, by building an underground mine under the current open-cast operation. Located 20 kilometres from a national park, Malanjkhand contains almost 70 percent of India’s copper reserves and represents around 60 percent of Hindustan Copper’s output, states Business Standard.<\/p>\n

Copper prices have risen above 23 percent year to date. Despite a sharp drop in copper imports from China, which consumes nearly half of the metal seen as a bellwether for economic growth, the copper price hit an intra-day high of $3.25 a pound on Wednesday \u2013 the highest since February 2014<\/a>. Copper last closed at $3.07 a pound or $6,777 a tonne.<\/p>\n

The same day Bloomberg reported<\/a> that trading in copper futures is reaching a frenzy, with bets for December 2018 skyrocketing above $10,000 a tonne. Red metal futures haven’t been that high since 2011 and Bloomberg says it suggests traders are becoming increasingly bullish due to the need for copper in electric cars.<\/p>\n

The post India’s only copper miner plans to nearly triple production at largest mine<\/a> appeared first on MINING.com<\/a>.<\/p>\n

\u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post <\/a>India’s only copper miner plans to nearly triple production at largest mine<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Andrew Topf Hindustan Copper is making moves to expand its production and operations in India where the company has a monopoly on copper mining. The state-run company said in a filing on the Bombay Stock Exchange that its board has increased its borrowing limit and approved the formation of a joint venture […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/583150"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=583150"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/583150\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=583150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=583150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=583150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}