Hindustan Copper on Tuesday announced that the company has achieved MIC (Metal in concentrate) production of 27,404 tonnes during FY 2023-24. This, it added, is the highest in the last five years and 11 per cent higher than the last year.
In terms of ore production, the company recorded 3.78 million tonnes in FY 2023-24, which is the highest in the last four years and is 13 per cent higher in comparison to the last year.
While its flagship unit, Malanjkhand Copper Project at Madhya Pradesh, has achieved 18 per cent higher ore production and 9.4 per cent higher MIC production as compared to the last year, Hindustan Copper said that its KCC unit in Rajasthan achieved 11 per cent higher ore production and 17.3 per cent higher MIC production with respect to last year.
Meanwhile, the TCP Unit at Maharashtra has achieved 27,833 tonnes of Continuous Cast Copper Rod production (third party tolling) which is 71,725 tonnes higher than the previous year.
Hindustan Copper is a vertically integrated copper producing company and it offers services including exploration, exploitation, mining of copper and copper ore including beneficiation of minerals, smelting and refining. During the third quarter of FY24, the company had posted consolidated net profit at Rs 63 crore, down 21.44 per cent in comparison to Rs 80.20 crore posted in Q3FY23. Revenue from operations for the quarter was at Rs 399.29 crore, down 28.31 per cent on-year.