Balaghat (MP) | Apr 12, 2015: Union Minister of Mines and Steel Narendra Singh Tomar and Madhya Pradesh Chief Minister Shivraj Singh Chauhan today laid the foundation stone of Malanjkhand Expansion Project of Hindustan Copper Ltd (HCL) at Malanjkhand in the district.
Tomar said the underground copper ore mine of 5 million tonne per annum capacity will be constructed with an investment of Rs 1,856 crore under the existing open cast mine and will be the largest underground metal mine in the country.
"Malanjkhand Underground mine will be the largest underground metal mine in the country. Its commissioning complements the Government's 'Make in India' initiative by increasing the indigenous availability of raw material for manufacturing of refined copper products in the country," he said.
The country is highly deficit in the production of copper concentrate, nearly 95 per cent of the country's demand is met though imports, he said.
The project, though a small step in this direction, will create a momentum for such mega copper mining projects in the country, he added.
Tomar stated that Mines Ministry is committed to increase the availability of raw material and share of Mining in the country's GDP.
Chouhan on the occasion complimented the Ministry of Mines and HCL for taking initiatives for commencement of Malanjkhand underground mine project and said it will increase employment opportunity in the backward district of Balaghat.
The project is expected to take five years for completion and successful implementation of the project will also reduce country's dependence on imported copper concentrate, a statement from HCL said.
(Source: http://www.business-standard.com/)