Hindustan Copper Reopens Rakha Mines with SWML

Kolkata Jan 9 (PTI) Hindustan Copper Ltd (HCL) on Thursday said it has appointed South West Mining Ltd (SWML) as the mine developer cum operator (MDO) for the reopening and expansion of the Rakha Copper Mines.

SWML will also develop a new underground mine at Chapri besides commissioning a concentrator plant, HCL said in a statement.

Mining operations in Rakha Mines were suspended in 2001 due to unviable operations, it said.

The mining services agreement was signed in Ranchi in the presence of Union Minister of Coal and Mines G Kishan Reddy and other senior officials.

The total capital expenditure for this project is estimated to be around Rs 2,700 crore, generating direct and indirect employment for around 10,000 people, the statement said.

The project will have a tenure of 20 years, extendable by another 10 years.