Hindustan Copper seeks Centres nod for copper plant
The Dollar Business Bureau State-owned Hindustan Copper Ltd (HCL) said on Monday that the location for its copper concentrate project in Chhattisgarh worth Rs.2,200 crore has been finalised and it will seek the approval of Centre for the same. “We have approved the hydrometallurgy plant in Chhattisgarh, which is near Malanjkhand. The project cost will be Rs.2,000-2,200 crore and we will need the Cabinet’s approval for the project,” K D Dewan, Chairman and MD, HCL said. The PSU has shortlisted two foreign firms, from Finland and Israel, for the new green technology that would for the first time be used for extracting metal via chemical process, in place of heat. HCL has set aside Rs.6,000 crore as total capital expenditure (capex) for the next 5 ...
Copper producers want incentives back for boosting exports
The Dollar Business Bureau In a move to meet the global competency in copper industry, key producers of copper have joined together seeking incentivisation of duty on exports of refined copper. A public sector company Hindustan Copper and Hindalco Industries-a private sector copper producer, along with an MNC giant-Sesa Sterlite, have joined hands seeking restoration of 2% duty incentive on refined copper exports that was removed earlier this year, said the reports. The three copper producers’ forum- Indian Primary Copper Producers Association, was said to have reportedly submitted the representation to the Ministry of Commerce seeking the duty incentive on the refined copper exports, the reports added. According to the association, withdrawal of the duty incentive on copper exports, that ...
