Shares of Hindustan Copper Ltd gained 2.85% to ₹328.58 on NSE in early trade on Tuesday, following bullish commentary from Chairman and Managing Director Sanjeev Kumar Singh.
In an interview with CNBC-TV18, Singh said global copper supply is expected to remain tight through 2025 and 2026, with disruptions such as the closure of Indonesia’s Grasberg mine coinciding with rising demand. He highlighted that copper usage in AI-driven data centres is becoming a major demand driver, expected to keep prices firm.
Singh noted Hindustan Copper’s cost of production is competitive at about $5,500 per tonne on average, providing a margin cushion even amid volatility. For FY26, the company aims to produce over 4 million tonnes of ore and 30,000+ tonnes of metal in concentrate (MIC), though extended monsoon conditions may pose short-term challenges.
Looking ahead, Hindustan Copper plans to triple its mining capacity to 12 million tonnes by FY31 with a capex of ₹2,000 crore, funded via internal accruals. A Qualified Institutional Placement (QIP) has also received board approval as an enabling resolution.
Beyond copper, the company is exploring opportunities in rare earth minerals such as graphite, vanadium, and potash through MoUs with PSUs including Oil India Ltd.
