The public sector Hindustan Copper Ltd. has decided to get into at latest two new verticals which will help it insulate its finances from the volatility of copper prices on the London Metal Exchange.
These include a waste recovery project, which would enable it recover precious metals such as gold and silver as well as minerals like silica, HCL chairman-cum-managing director Santosh Sharma said at a press meet.``This project will be a significant value-creator for the company,” he said.
Additionally, HCL is also planning a project on `monetisation of the rock’ that it gets during copper extraction at its open-cast mines. The listed PSU has already discussed the possibility of using these rocks, which are granite and other rocks, in various government of India projects.
The company is engaged in mining, beneficiation, smelting, refining and making value added products. It has open-cast and underground mines in the copper belts of Jharkhand, Madhya Pradesh and Rajasthan. It has two processing units at Maharashtra and Gujarat.
