Going ahead with the reopening of the Rekha mines in Jharkhand, the Hindustan Copper Board has recently cleared the award of Rs 259.91cr EPC contract to a consortium led by Kopex Shaft Sinking Co of Poland. The other member of the consortium is India Resource Ltd of Australia. The consortium will produce copper bearing ore of 1.5 million tonnes a year. Since 2007, India Resource Ltd is the operator of the HCL's Surda mine, also in Jharkhand. Its operation contract for the Surda mine would expire in 2014. It feeds HCL's Moubhandar smelter, nearby in the East Singbhum district. The player produced higher ore during the October-December quarter of the current fiscal at 8.92 lakh tonnes, up 7.5% from July-September quarter. It was also 2.5% higher than the corresponding quarter in the previous financial year. However, the turnover dropped by 8% to Rs 310.73cr, while the net profit slid to Rs 75.84cr (Rs 79.14cr).
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