State-run miner Hindustan Copper Ltd has approved a significant contract worth ₹469.55 crore for a new copper concentrate plant in Madhya Pradesh. According to reports from CNBC TV18, the company's board has approved awarding the turnkey contract to Ardee Engineering Limited for setting up the plant at the Malanjkhand Copper Project in Madhya Pradesh. The project is expected to be completed over a 27-month period and will substantially increase the company's ability to process ore and produce copper concentrate, a critical intermediate product that is further smelted to produce refined copper.
The contract award represents Hindustan Copper's strategic push to expand domestic production capacity at its flagship Malanjkhand mine, which houses one of the country's largest copper reserves. As reported by CNBC TV18, this move comes as the company doubles down on capacity expansion amid rising demand for copper across sectors including electric vehicles, renewable energy, and infrastructure. The new 3.0 MTPA (Million Tonnes Per Annum) copper concentrate plant will allow HCL to process more ore from the Malanjkhand mine, improving overall resource recovery and operational efficiency. The contract will be executed on a turnkey basis, indicating that Ardee Engineering will handle end-to-end execution from design to commissioning.
The approval was cleared at Hindustan Copper's 461st board meeting held on March 30, 2026. According to the regulatory filing, the disclosure was made in compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The project is valued at ₹469.55 crore plus applicable GST, representing a substantial investment in the company's expansion plans. The information was subsequently disclosed to the BSE Limited (Scrip Code: 513599) and the National Stock Exchange (NSE Symbol: HINDCOPPER).
With this contract award, Hindustan Copper continues its push to scale up operations and reduce India's reliance on copper imports, even as global supply chains remain volatile. As reported by CNBC TV18, this expansion strategy aligns with the company's broader objective of strengthening domestic copper production capabilities to meet growing industrial demand across multiple sectors. The project supports the government's push for self-reliance in strategically important minerals and metals, including copper, driven by infrastructure development, electric vehicles, renewable energy, and the real estate sector.
The Malanjkhand Copper Project, located in the Balaghat district of Madhya Pradesh, is HCL's flagship mining operation and one of the largest open-pit copper mines in Asia. The new plant will be executed by Ardee Engineering Limited, an engineering and construction company with experience in executing large-scale industrial projects, including those in the mining and metals sector. With Board approval now in place, HCL will proceed to issue the work order to Ardee Engineering Limited. The project is expected to contribute meaningfully to HCL's top line and profitability once operational, with investors and analysts watching for clarity on funding mechanisms and the plant's impact on production volumes.
