Hindustan Copper Ltd. — Investor Presentation 2021

Mar 3, 2021

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Corporate Presentation

March 2021

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Disclaimer
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The information contained in this presentation is provided by Hindustan Copper Limited (the “ Company ”) to you solely for your information. This document is highly confidential and being given solely for information purpose only and may not be retained by you and neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) re-circulated, redistributed, passed on, published in any media, website or otherwise disseminated, to any other person, in any form or manner, in part or as a whole, without the prior written consent of the Company. Any unauthorized use, disclosure or public dissemination of information contained herein is prohibited. This presentation does not purport to be a complete description of the markets’ conditions or developments referred to in the material.

This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, and the rules made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India.

This presentation is for private circulation only and does not constitute and should not be construed as an offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person.

No representation, warranty, guarantee or undertaking, express or implied, is or will be made or any assurance given as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information, estimates, projections or opinions contained herein. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. The statements contained in this presentation speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. Neither the Company nor any of its respective affiliates, its board of directors, its management, advisers or representatives, including any lead managers and their affiliates, or any other persons that may participate in any offering of securities of the Company, shall have any responsibility or liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes. Past performance information in this presentation should not be relied upon as an indication of (and is not an indicator of) future performance. Certain statements made in this presentation may be “forward looking statements” for purposes of laws and regulations of India and other than India. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition, general business plans and strategy, the industry in which the Company operates and the competitive and regulatory environment of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal, regulatory and social conditions in India, which the Company believes to be reasonable in light of its operating experience in recent years. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company.

This presentation contains data sourced from and the views of independent third parties. In replicating such data in this document, the Company does not make any representation, whether express or implied, as to the accuracy of such data. The replication of any third party views in this document should not necessarily be treated as an indication that the Company agrees with or concurs with such views.

This presentation is not an offer to sell or a solicitation of any offer to buy the securities of the Company in the United States or in any other jurisdiction where such offer or sale would be unlawful. Securities may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, in to or within the United States absent registration under the United States Securities Act of 1933, as amended (the “Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Company’s securities have not been and will not be registered under the Securities Act. Neither this document nor any part or copy of it may be distributed, directly or indirectly, in the United States. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. By reviewing this presentation, you agree to be bound by the foregoing limitations. You further represent and agree that you are located outside the United States and you are permitted under the laws of your jurisdiction to receive this presentation. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

2

Company Overview

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The Copper Miner to The Nation
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Notes:

	Long	▪A ‘Miniratna’ Category 1 CPSEs
	Standing	▪5 decades of extensive experience in copper mining & refined copper production
	Presence with	▪Government of India (GoI) shareholding of 76.05%
	strong Parentage	▪Named the industry leader (base metals) at the 2016 PLATTS Global Metals Awards
	Vertically	▪Sole vertically integrated producer of refined copper in India
	Integrated	▪Major activities include mining, ore beneficiation,smelting, refining and extruding of
	Operations	refined copper into downstream products
	Sole Copper Ore Producer in India	▪Only operating copper ore mining company in India ▪Owns all the operating mining lease of copper ore
		▪Proven experience and expertise in developing and operating copper mines
	Access to	▪Has access to about 2/5th of India’s copper ore reserves and resources
	Substantial	▪Reserves: 167.08 Million tonnes1(estimated balance as on 01.04.2020)
	Reserves & Resources	▪Resources & Reserves: 570.40 Million tonnes 1 (estimated balance as on 01.04.2020)
	Clear Roadmap
	for Expansion	▪Phase I
	backed by exponential	▪Phase II
	demand
		▪Market Capitalization – Rs. 1,38,597 Million2
	Robust Financial	▪Dec 31, 2020 (09 months) Revenue from Operations
	Performance	million3
		▪Credit Rating: Short Term: ICRA A1+; Long Term; ICRA AA(Stable)4

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1. Reserves and Resources numbers are as per the chartered engineer certificate dated March 2, 2021 2. BSE as on Feb 26, 2021

2. Based on stock exchange filings for the period ended Dec 31[st] , 2020 4. ICRA credit rating report, October 2020 5. MTPA – Million Tonnes Per Annum

4

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Operating units
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|Khetri Copper Complex(KCC) 1
State
Rajasthan
Inception
1967
Facility
Mining (underground) & Beneficiation
Product
Copper Concentrate
Capacity
(As per EC)
Ore | 3.0 mn tonnes p.a.
Taloja Copper Project(TCP)
State
Maharashtra
Inception
1988
Facility
Continuous casting
Product
Copper wire rod
Capacity
60,000 tonnesp.a.
Gujarat Copper Project(GCP)
State
Gujarat
Acquisition
2015
Facility
Secondary smelting &
Refining
Product
Copper cathode, anode slime
Capacity
Cathode | 50,000 tonnes p.a.
KCC
GCP
MCP
TCP
Environmental Clearance|Indian Copper Complex(ICC)|Indian Copper Complex(ICC)|
|---|---|---|
||State|Jharkhand|
||Inception|1924, Nationalized in 1972|
||Facility|Mining (Underground), Beneficiation
Smelting& Refining|
||Product|Copper concentrate, cathode, anode slime,
sulphuric acid & copper sulphate|
||Capacity
(As per EC)|Ore | 4.35 mn tonnes p.a.
Cathode | 18,500 tonnes p.a.|
||Malanjkhand Copper Project(MCP)
State
Madhya Pradesh
Inception
1982
Facility
Mining (opencast & underground),
Beneficiation
Product
Copper Concentrate
Capacity
(As per EC)
Ore | 5 mn tonnes p.a.
ICC||

EC | Environmental Clearance

Note 1: EAC of MoEF&CC, GoI recommended for 0.9 Mtpa for Surda Mine at ICC Source: Chartered Engineer certificate dated March 2, 2021

5

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Evolution & Share Holding Structure
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Evolution of Hindustan Copper

1967

1972

Hindustan Copper Government of was setup in 1967 India nationalized with 100 % GoI Indian Copper ownership and Corporation assets at Khetri, Limited, Ghatsila, Rajasthan Jharkhand and transferred to merged with Hindustan Copper Hindustan Copper from NMDC Limited

1988

Wire rod copper plant at Taloja was commissioned

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2018 2021
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2015
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2017
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2008
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Firmed up New mine at Named the MCP underground major Banwas was industry leader mines under final expansion completed and (base metals) at stages of projects to production the 2016 PLATTS completion. enhance mine commenced Global Metals capacity from Kendadih mines Awards[1] 3.4 mtpa to 12.2 Development mtpa in Phase-I complete which is under implementation

Government of India granted Hindustan Copper Limited status of “Miniratna category –I”

Listed on BSE and NSE

Shareholding Pattern[3]

Number of Shares: 925.2 mn

Share Price (52Wk High/Low): Rs. 154.55 (26/02/2021 / Rs. 18.30[2] (25/03/2020)

Market Cap : Rs. 1,38,597.7 Million (26/02/2021)

Notes:

1. Platts 2016 global metal awards; https://gma.platts.com. Golden Peacock award for CSR in Jan 2017, CSR Leadership awards in 2019

2. BSE as of February 26, 2021

3. Shareholding position as on Dec 31, 2020

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Key Highlights
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1

Significant Growth Potential in Copper Consumption in India

2 Only Vertically Integrated Operations for refined copper

3 Sole Operating Copper Ore mining Company in India

4 Access to Substantial Copper Ore Reserves in India

5 Clear Roadmap for Expansion backed by exponential demand

6

Healthy Financial Performance

7

1a

World Refined Copper Usage

(mn tonnes)

Refined Copper Usage by Region (2019)

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24.5 24.4
23.8
23.5
22.9 23.0
2014 2015 2016 2017 2018 2019
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Latin Africa, 1%
America, 2%
N. America,
10%
Europe, 16%
Asia, 71%
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• Growth driven by China, with usage of over 51% (12.7 Mn. tonnes) in 2019

• Equipment was the largest end use sector followed by building construction and Infrastructure.

• India is the 6[th] largest importer of copper ore and concentrates in 2019

Major Uses of Copper in 2019

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First Use (Semis Production)
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End Use
Industrial,
Rods, Bars Foil, 3% 12%
&Sections,
10%
Transport,
Equipment,
13%
Tube, 12% 31%
Flat Rolled
Products Infrastructur
(plate, e, 16%
sheet &
Wire, 63% Building and
strip), 12%
Construction
, 28%
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(mn tonnes)

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24.05 24.04
23.4 23.5
22.8
22.5
2014 2015 2016 2017 2018 2019
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• Secondary refined production for 2019 was 4.1 Mn. tonnes. China was the largest producer.

8

Source : The World Copper Factbook, 2020, by International Copper Study Group

1b

India’s Per Capita Copper Consumption currently low – Expected to increase substantially

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(kg/person)
The Avg per capita
consumption in the
world is 3.2kgs
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Domestic Copper Consumption to Increase

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Refined Copper Consumption
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(Lakh tonnes)
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Copper demand in electrical segment is growing due to demand in infra sector as a result of affordable housing schemes, rural electrification and more urbanization.

Source: Ministry of Mines, Annual Report 2019-20

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Refined Copper Consumption
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Government initiatives will further Increase Growth of the Copper Consuming Industries

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World India
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Make in India 100 Smart City Projects Metro and Railway Aatmanirbhar Bharat in Projects Defence 100 GW target for Renewable Energy by 2022 PLI schemes for Consumer electronics industry

India’s copper consumption is concentrated in Electrical industry in contrast with the rest of the world which is concentrated in Building and Construction

Accelerated growth for Electric Vehicles

Source:

1. Ministry of power , http://powermin.nic.in/ 2. Make in India, http://makeinindia.com/

Source: Ministry of Mines, http://mines.nic.in/

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Mining Capacity to increase on the backing of demand
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World Copper Mine Capacity to increase

(mn tonnes)

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29.5
24.1
Avg capacity
utilization
being 85%
2019A 2024E
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2 Electrical Products like Wire, cables etc.

3 Renewable Energy Products; Wind, Solar etc.

4 Electronics and Communication

5 Construction

6 Industrial Machinery and Equipment

Electric vehicles contain approximately four times more copper than 1 conventional cars.

7 Transportation

Batteries, Windings and copper rotors used in electric motors, wiring, busbars and charging infrastructure.

Battery Electric Vehicles – 83 Kg

Conventional Cars – 23Kg

Hybrid Electric Bus – 89 Kg

Hybrid Electric Vehicles – 40 Kg

Plug-in Hybrid Electric Vehicles – 60 Kg

Electric Bus – 224 -369 Kg

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Source: International Copper Study Group (ICSG) press release

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1c

Rajasthan:

Largest reserves / resources of copper ore.

813 million tonnes (53.81%)

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• Jharkhand: 295 million tonnes (19.54%)

• Madhya Pradesh: 283 million tonnes (18.75%).

• Other Copper Reserves / resources accounted for the remaining 7.9%: Andhra Pradesh, Gujarat, Haryana, Karnataka, Maharashtra, Meghalaya, Nagaland, Odisha, Sikkim, Tamil Nadu, Telangana, Uttarakhand and West Bengal.

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Schematic as per map published by GSI

1c

• Significant mismatch between India‘s processing requirement and copper mining capacity

• Approximately 100 mn tonnes of copper ore (assuming a copper content of 1% ) is required to produce 1 mn tonne of refined copper

• The copper ore production in India for 2019-20 was 3.97 mn tonnes, meeting only ~4% of the country‘s demand[1] . The current mining capacity is entirely catered to by HCL

• Custom smelters are relying on imported copper concentrate to feed their plants

Hindustan Copper Advantage

• Mining is the maximum value creator in the value chain of copper

• HCL has identified mining as its core focus area

• With 2/5[th] of the reserves and resources HCL is a significant player

• Owns all the operating mining leases in the country. Mine expansion is under way, significant capacity expansion to be achieved from 3.97 Mtpa to 12.2 Mtpa in Phase I and thereafter from 12.2 Mtpa to 20.2 Mtpa in Phase II.

• Significant potential for copper concentrate consumption in the country. Currently the requirements are met through Imports by custom smelters

India’s Refined Copper Capacity vs. Copper Mining Capacity (as of FY19)

(‘000 tonnes)

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996.1
1028.5
32.4
Refining Capacity Current Mining Output Gap
Level
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Notes

1. Refining capacity break-up (‘000 tonnes) i. Hindalco: 500.0

2. ii. Vedanta: 460.0 iii. HCL : 68.5

3. Indicates the amount of refined copper that can be extracted from the current copper ore production in India

Source: World Copper Factbook, 2020

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Key Highlights
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1

Significant Growth Potential in Copper Consumption in India

2 Only Vertically Integrated Operations for refined copper

3 Sole Operating Copper Ore mining Company in India

4 Access to Substantial Copper Ore Reserves in India 5 Clear Roadmap for Expansion backed by exponential demand 6 Healthy Financial Performance

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2a Vertically Integrated Operations
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Continuous
Cathode Refined Cast Copper
Copper (RC) Rod
99.99% Cu
Anode
Copper 99.5% Cu
Continuous
Concentrate
Cast Rod Plant
17%- 26% Cu
Refining
Copper Ore
~ 1% Cu
Smelting
Beneficiation
Mining
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Smelting and refining and manufacturing of rods facilities are utilised when TcRc moves up. The currently TcRc prices are low. As per the current business plan, HCL is selling copper concentrate only as it gives highest realisation to the company.

14

2b

Production Overview

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Ore
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(‘000 tonnes)
4122
3968
3675
2278
FY 18 FY 19 FY 20 Dec-20
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Metal in Concentrate
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(tonnes)
31,793 32,439
26,502
16,660
FY 18 FY 19 FY 20 Dec-20
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Sales Overview

Metal in Concentrate

(tonnes)

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25,001
21,953
12,669
9,133
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The Company’s margins are currently highest for sale of the product ‘Metal in concentrate’ form and hence are currently not manufacturing cathode and wire rods.

Signed a long term agreement with one of the Indian Conglomerate for sale of copper concentrate of more than 60% of total production.

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FY 20
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FY 18

FY 19

Dec-20

15

2c

▪ Copper Concentrate

Grade 17-26%

▪ Cathode

Purity: 99.99% - equivalent to LME Grade – ”A” specification

▪ Continuous Cast Wire Rod

Diameter(mm): 8, 11, 12.5, 16, 19.6 (+/- 0.50 mm)

▪ By Products

• Anode Slime containing precious metals

• Sulphuric Acid

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▪ Applications

Smelting and Refining of Copper Products

Applications

▪

Alloys, foils, CC Wire Rods

▪ Applications

Winding wires, strips, etc.

▪ Applications

Anode Slime – production of gold and silver

• Copper Sulphate

• Granulated Slag

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Key Highlights
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1

Significant Growth Potential in Copper Consumption in India

2

Only Vertically Integrated Operations for refined copper

3 Sole Operating Copper Ore mining Company in India

4 Access to Substantial Copper Ore Reserves in India

5 Clear Roadmap for Expansion backed by exponential demand 6 Healthy Financial Performance

17

3

Copper Reserves and Resources as on April 1, 2020

Experience and expertise in developing and operating Copper Mines

Taloja Malanjkhand Ghatsila Khetri Jhagadia Kolkata (Head office) New Delhi Mumbai Bangalore Regional Sales Offices Operating Units Copper Mines	Taloja Malanjkhand Ghatsila Khetri Jhagadia Kolkata (Head office) New Delhi Mumbai Bangalore Regional Sales Offices Operating Units Copper Mines	Mines	Reserves1 (mn Tonnes)	Average Grade (% Cu)	Resources2 (mn Tonnes)	Average Grade (% Cu)
		MCP
		Malanjkhand	120.35	1.31	186.57	0.66
		ICC
		Surda	5.02	1.16	26.96	0.99
		Rakha	3.36	1.14	43.83	0.94
		Kendadih	0.77	1.41	17.76	1.25
		Sideshwar	00	00	13.73	1.46
		Chapri	00	00	49.87	1.05
		Tamapahar	00	00	26.46	0.86
		Total ICC	9.15	1.17	178.61	1.04
		KCC
		Khetri	25.33	1.44	23.49	1.40
		Kolihan	9.07	1.31	4.57	1.41
		Chandmari	3.18	1.11	10.08	0.95
		Total KCC	37.58	1.38	38.14	1.28
		Total	167.08	1.32	403.32	0.89
		Operating Mines
	HCL has significant Mining Resources with high grade of copper in Ore

HCL has significant Mining Resources with high grade of copper in Ore

Note:

1. Proved + Probable

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Key Highlights
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1

Significant Growth Potential in Copper Consumption in India

2

Only Vertically Integrated Operations for refined copper

3 Only Operating Copper Ore producing mining in India

4 Access to Substantial Copper Ore Reserves in India 5 Clear Roadmap for Expansion backed by exponential demand 6 Healthy Financial Performance

19

4

HCL has access to about 2/5[th] of India’s copper ore resources & reserves

Reserves

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(mn tonnes)
1.30 1.37 1.32
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Resources

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(mn tonnes)
1.01
1.30 1.37 1.32 0.89
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Average Grade

Source: Chartered Engineer certificate dated March 2, 2021

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Key Highlights
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1

Significant Growth Potential in Copper Consumption in India

2 Only Vertically Integrated Operations for refined copper

3 Sole Operating Copper Ore mining Company in India

4 Access to Substantial Copper Ore Reserves in India 5 Clear Roadmap for Expansion backed by exponential demand 6 Healthy Financial Performance

21

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5a
Expansion Strategy: Thrust Areas
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• ✓ Malanjkhand (Madhya Pradesh)

• ✓ Khetri & Kolihan (Rajasthan)

• ✓ Surda (Jharkhand)

3.71MTPA to 8.2MTPA

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1
Expansion of
6 Existing Mines 2
Re – Opening of
Niche Product
Closed Mines
Segment
✓ Manufacturing value added ✓ Rakha (Jharkhand) 1.9MTPA
✓ Kendadih (Jharkhand)
products
Thrust on
Mining &
Exploration
3
5
New Mines &
Sustainable Green Field
Development Exploration
0.26MTPA to 2.1MTPA
✓ Utilization of waste rocks 4 ✓ Awarded RP: Balaghat (Madhya Pradesh)
Exploration to ✓ New Mines: Banwas and Chapri Sidheswar
establish depth and & Applied for area reservation in other places
strike continuity of
ore body
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22

5b

	(MTPA) Malanjkhand Khetri and Kolihan Surda Total	Existing Capacity (MT)	Phase I Expansion	Phase 1 estimated capex (Rs. Mn.)	Scheduled start of Production (Phase I)	Phase II Expansion	Total Capex (Phase- I + II) (Rs. Mn,)
Expansion of Existing Mines		2.54	5.0	18,560	2022	8.0	29,000
		0.86	2.3	4,430	-	4.4	9,100
		0.31	0.9	2,190	2022	1.0	3,500
		3.71	8.2	25,180		13.4	41,600
Reopening of Closed Mines
	Kendadih	-	0.4	940	2022	0.2	950
	Rakha	-	1.5	3,150	-	2.5	5,500
	Total	-	1.9	4,090		2.7	6,450
Establishing New Mines	Banwas	0.26	0.6	900	Commenced production in Feb 2018	0.6	900
	Chapri- Sidheshwar	-	1.5	4170	-	2.5	5,500
	Dhobani- Pathargora Block	-	-	-	-	1.0	550
	Total	0.26	2.1	5,070		4.1	6,950
	Grand Total	3.97	12.2	34,340		20.2	55,000

Source: Chartered Engineer certificate dated March 2, 2021. Costs stated are at the time of award / Based on Management estimates. Please note that these estimates are subject to risks including changes in expected capacity, changes in expected expansion cost, risks relating to delays in expansion, obtaining & maintaining mining leases at mining sites, obtaining

23

5c

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Finalization of
Mine
Invite Issuance Contract /
Approval of Board Construction and
RFQ of RFQ award of
Development
contract
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Mine	Investment Approval	Invite RFQ	Issuance of RFP	Finalization of Contract / Award of contract	Current status of Mine Capex	Likely Scheduled Completion
Malanjkhand	Investment approvals in place	Completed	Completed	Completed on April 9, 2015	Started in 2015 – Work in Progress	FY22
Khetri	Investment approvals in place	Under Tendering Stage with modified design
Surda	Investment approvals in place	Completed	Completed	Completed on November 18, 2011	Work-in-Progress	Mining lease extension awaited
Kendadih	Investment approvals in place	Completed	Completed	Completed on January 20, 2012	Dewatering and commissioning of mining facilities completed . Development work in progress.	Production will start soon. FY22
Rakha	Investment approvals in place	Through MDO (Mine Developer cum Operator) route
Chapri- Sideshwar	Investment approvals in place	Through MDO (Mine Developer cum Operator) route
Banwas	Investment approvals in place	Completed	Completed	Completed on February 1, 2010	Development of deposit completed Contractor appointed and production has commenced in 2018 .

24

5c

(Rs. in Million)

15,636.8

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6,569.5
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10,701.1
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12,704.1
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---

FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 (DEC'20)

*** Total Indebtedness as on December 31, 2020: Rs. 12,704.1 Million**

Long term loan of Rs. 10,849.1 Million at an average cost of 6.17% p.a. Short term loan of Rs.1,455.0 Million at average cost of 6.60% p.a. CC facility of Rs. 400 Million at 6.31% p.a.

25

5e

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----- Start of picture text -----

District Alwar,
Sikar,
Jhunjhunu, 6 Copper Blocks
Chhitorgarh
(Rajasthan)
4 Copper Blocks
3 Copper Blocks
District East Singhbhum
District Balaghat (Jharkhand)
(Madhya Pradesh)
----- End of picture text -----

Application Submitted for Reservation of area for Conservation of Copper Mineral under Rule 17(A) of Mines and Minerals (Development and Regulation) Act, 1957

Notes:

1 Awarded RP in 580.73 sq km in the district of Balaghat in MP

2 Map not to scale and is presented only to provide an indication of approximate locations of our mining complexes

26

5e

• Authorised

• Project Capital Status (INR mn) ▪ Chhattisgarh Copper Limited has been incorporated on 21.05.2018 as JV Company

• CHHATTISGARH COPPER LIMITED between HCL and CMDC.

• JV with CMDC for exploration & ▪ Exploration identified and area reservation applied

• exploitation of copper in Chhattisgarh 100 for 2 Blocks

• State (HCL holding 74%). ▪ CMDC (JV partner of CCL ) has applied to NMET for fund support for exploration activity in CCL copper blocks Hiddar and Bodal in Chhattisgarh

• ▪ Khanij Bidesh India Limited (KABIL) has been incorporated on 08.08.2019 as a JV company

• KHANIJ BIDESH INDIA LIMITED between NALCO, HCL and MECL.

• (KABIL) ▪ KABIL is co-ordinating with countries like Argentina,

• JV with NALCO and MECL to identify , 1,000 Bolivia, DR Congo, Australia, Russia etc. who

• acquire, develop , process and make have potential of such critical minerals, specifically

• commercial use of strategic & other lithium and cobalt to fulfill its objective of sourcing

• minerals in overseas locations for these critical minerals to India to develop domestic

• supply in India (HCL holding 30%). Battery industry for Electro-vehicles.

• CMDC (JV partner of CCL ) has applied to NMET for fund support for exploration activity in CCL copper blocks Hiddar and Bodal in Chhattisgarh

CMDC | Chattisgarh Mineral Development Corporation, MECL | Mineral Exploration Company Limited

27

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Key Highlights
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1

Significant Growth Potential in Copper Consumption in India

2

Only Vertically Integrated Operations for refined copper

3 Sole Operating Copper Ore mining Company in India

4 Access to Substantial Copper Ore Reserves in India

5 Clear Roadmap for Expansion backed by exponential demand 6 Healthy Financial Performance

28

6

Total Revenue

EBITDA and EBITDA Margins

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----- Start of picture text -----

(Rs. Mn.)
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----- Start of picture text -----

18,529
17,469
12,900
8,888
FY 18 FY 19 FY 20 Dec-20
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Note:

• 1 Revenue includes Net sales + Other Operating Income + Other income

Net Income (PAT) and Net Income margin

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----- Start of picture text -----

(Rs. Mn.)
2000 1,455 1,468 20%
796
1000 4.6% 7.9% 11.4% 10%
0 0%
-1000 FY 18 FY 19 FY 20 Dec-20 -10%
-2000 -20%
-3000 -30%
-4000 -40%
-5000 -50%
-6000 -60%
-7000 -5,694 -64.1% -70%
Net Income Net Income Margin
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Note:

• 1 Net Income margin = Net Income / Revenues (including other income)

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----- Start of picture text -----

(Rs. Mn.)
6,000 29.1% 40%
5,000 31.3% 30%
4,000 17.6%
20%
3,000
2,000 10%
1,000 3,080 5,387 4,033 0%
0
-10%
-1,000 FY 18 FY 19 -1,887 FY 20 Dec-20
-20%
-2,000
-3,000 -21.2% -30%
EBITDA EBITDA (%)
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Net Worth

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----- Start of picture text -----

(Rs. Mn.)
9,592.4
8,315.9
5,141.9
3,392.9
FY18 FY19 FY20 FY21(Dec)
Note:
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Networth = Equity + Reserves & Surplus – Capital Reserve- Currency Fluctuation Reserve – Mine Development Exp

Source: Financial data for FY18, FY19, FY20 -Annual Reports, Financial Data for 9 Month Dec 20-Stock Exchange filings

29

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HCL’s Copper Concentrate is Superior Kind of Clean Concentrate
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• Copper concentrates divided into clean or complex types depending on presence of deleterious elements.

• The main impurities (deleterious elements) in complex concentrates are Sb, As, Bi, Cd, Cl, F, Pb, Hg, etc.

• Each element has a threshold level above which a smelter will charge a penalty in addition to treatment/refining charges (Tc/Rc).

• There may also be an upper limit over which the smelter will reject the concentrate.

• Penalty charges exist to cover the extra costs incurred by the smelter in processing and safely storing contaminated (deleterious) materials.

• Around 30% of world copper concentrates output contains more than 0.1% or 1,000 ppm As.

• Complex copper concentrates have an As content greater than 0.2% (2,000 ppm) with no upper limit, although China imposes a limit of 0.5% As (5,000 ppm) on imported base metal concentrates. Mines, such as Toromocho in Peru (1% As) and Ministro Hales in Chile (4% As), Marcapunta in Peru (8% As), Chelopech in Bulgaria (6% As) and Chuquicamata in Chile (1.2% As)

• The Arsenic (As), Sb, Bi, Pb, Hg, Cd etc content in HCL’s copper concentrate is in the range of 10 ppm, 30ppm, 25 ppm, 100 ppm, not detected, not detected level respectively hence considered as one of the cleanest concentrate in the World.

*Source: International Mining journal – Feb’ 2016 (https://im-mining.com/2016/02/23/high-arsenic-copper-concentrates/)

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7a
Historical | Stock Performance vis-à-vis Indices
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Hindustan Copper Performance vis-à-vis Indices

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----- Start of picture text -----

350
300
250
200
150
100
50
0
Hindustan Copper S&P BSE SENSEX S&P BSE Metal
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31

Source: Bloomberg

7b

London Metal Exchange (LME) Copper Price avg. above USD 6,500/tonne last 10 years

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----- Start of picture text -----

(US$/tonne)
9,000 8139.51 8485.09 7854.90 Average is 6661USD/MT
8,000 7103.85
7,000 6100.75 6553.21 6443.91 6340.62 6685.41
5859.54
6,000 5215.19 5154.45
5,000
4,000
3,000
2,000
1,000
0
FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21(YTD)
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Copper Price movement for the last 20 years

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----- Start of picture text -----

10000
9000
8000
7000
6000
5000
4000
3000
2000
1000
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Troughs are increasing in every cycle

(US$/tonne)

LME prices for copper for March 1, 2021 is 9,198 US$/tonne

0

CY01 CY02 CY03 CY04 CY05 CY06 CY07 CY08 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 CY20

32

Appendix

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Experienced Management Team w.e.f. Jan 2020
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Shri Arun Kumar Shukla Chairman and Managing Director Additional charge of Director (Operations)

• Holds Bachelor’s degree in Mining and M.Tech. in Environmental Engineering from IIT (ISM), Dhanbad. He also holds Degree in Law (LL.B). He possesses First Class Mines Managers’ Certificate under the Mines Act, 1952.

• He started his carrier in Coal India Ltd and worked there for more than 21 Years. He later Joined NMDC in October 2006. On deputation from NMDC Mr. Shukla also served as Managing Director of Jharkhand State Mineral Development Corporation Limited for about 2 Years.

• Prior to Joining Hindustan Copper Ltd. (HCL) as Director (Operations) in October 2018, he was working as Executive Director in NMDC and was heading one of its major unit namely Bailadila Iron Ore Mines, Bacheli Complex in Bastar District of Chhattisgarh.

• • He has taken charge as CMD of HCL from Jan 2020

• Recipient of prestigious FIMI Golden Jubilee Awards for Excellence (2016-17) & TATA Steel Mining Sustainability Award (2017-18).

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Shri Sukhen Kumar Bandyopadhyay Director (Finance ) Additional charge of Director (Mining)

• Holds a Bachelor’s degree in Science and Professional degree of Institute of Cost & Management Accountants of India. Before joining HCL as Director (Finance) on July 2018, Shri Bandyopadhyay was CGM (Finance & Accounts) in SJVN Ltd, Schedule A CPSU.(JV of GoI & Govt. of HP)

• During his professional career spanning 32 years in executive position, he had served in many key administrative positions in the different fields of Finance & Accounts for the execution of Hydro/Thermal/ Gas/Solar/ Wind Projects in NEEPCO & SJVN Ltd (CPSUs) and in PPCL & IPGCL (Delhi Govt. PSU), on deputation.

34

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Mining Lease Status as on February 2021
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State	Mining Lease	Capacity as per EC	Area in Hect.	Date of Initial Grant of Mining Lease	Lease Renewal / Extension – Present Status
Jharkhand	Surda	0.90	388.68	16.06.1939	Lease extension was upto 31.03.20. (EC has been recommended by MoEFCC subject to submission of Bank guarantee, ML renewal and FC Stage 1 approvals. )
	Kendadih	0.45	1139.60	03.06.1973	Extended till 02.06.2023
	Rakha	3.00	785.09	29.08.1971	Extended till 28.08.2021. Application of renewal already made.
Rajasthan	Khetri	1.5	395.07	23.02.1963	Extended till 31.03.2040
	Kolihan	1.5	163.23	24.11.1966	Extended till 31.03.2040
	Chandmari	-	148.45	27.12.1972	Extended till 26.12.2022
Madhya Pradesh	Malanjkhand	5.0	479.90	28.08.1973	Extended till 27.08.2023

Source: Chartered Engineer certificate dated March 2, 2021

35

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Mine Life and Exploration Plan as per Environmental Clearance
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State	Mining Lease	Reserve and Resources as on 01.04.2020.	Mine Life @ Phase-1 expanded capacity rate of 12.2 MTPA production	Departmental Exploration Plan
Jharkhand	Surda	31.98 Mn Tonnes	17 Years	The tentative departmental exploratory drilling will be 7500 meter / year. The drilling will be taken up as per priority and requirement of individual mines.
	Kendadih	32.26 Mn Tonnes	36 Years
	Rakha*	123.52 Mn Tonnes	14 Years
Rajasthan	Khetri	48.82 Mn Tonnes	17 Years
	Kolihan	13.64 Mn Tonnes	6 Years
	Chandmari	13.26 Mn Tonnes	EIA/EMP study for EC under progress
Madhya Pradesh	Malanjkhand	306.92 Mn Tonnes	23 Years
*Depth exploration has enhanced the resources of Rakha mining lease recently by 60.17 million tonnes, thus reserve and resources as on date is 630.57 million tonnes @ 0.99% Cu.

Source: Chartered Engineer certificate dated March 2, 2021

36

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Malanjkhand Copper Project (MCP)
Dist: Balaghat, Madhya Pradesh
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Reserves

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(mn tonnes)
1.33 1.18 1.31
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Resources

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----- Start of picture text -----

(mn tonnes)
1.31 0.66 0.91
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Mining Lease

	Area (sq. km.)	Expiry
MCP	4.7990	27/08/20231

Note:[1] Shall be extended as per Mineral (Mining by Government Company) Rules 2015

Copper Ore Production

(‘000 tonnes)

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----- Start of picture text -----

2544
2339 2542
1,584
FY18 FY19 FY20 Dec-20
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Metal - in- Concentrate Production

(‘000 tonnes)

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Average Grade
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Expansion Plans

• From existing 2.5 mtpa to 5.0 in Phase-I and upto 8.0 mtpa in Phase-II

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----- Start of picture text -----

19.4 15.7
19.1
11.6
FY18 FY19 FY20 Dec-20
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Source: Chartered Engineer certificate dated March 2, 2021 .

37

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Indian Copper Complex (ICC)
Dist: Singhbhum, Jharkhand
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Reserves ( As on 01.04.2020)

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----- Start of picture text -----

(mn tonnes)
1.17 1.18 1.17
9.15
6.15
3.00
Proved Probable Total
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Resources

Mining Lease

	Area (sq. km.)	Expiry
ICC Surda Mines	3.8868	31/03/20201
ICC Kendadih Mines	11.3960	02/06/2023
ICC Rakha Mines	7.8509	28/08/2021

Note:[1] Extension expected soon as per Mineral (Mining by Government Company) Rules 2015

Copper Ore Production

• (‘000 tonnes)

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(mn tonnes)
1.17 1.04 1.04
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----- Start of picture text -----

175
303
230
31
FY18 FY19 FY20 Dec-20
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Metal - in- Concentrate Production

(‘000 tonnes)

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Average Grade
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Expansion Plans

• Increasing Surda Mines capacity from 0.4 Mtpa to 0.9 Mtpa (Ph-I) and upto1.0 Mtpa (Ph-II)

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----- Start of picture text -----

1.3
2.1
1.7
0.2
FY18 FY19 FY20 Dec-20
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• Reopening of Closed Mines and establishing new Mines 3.0 Mtpa

Source: Chartered Engineer certificate dated March 2, 2021

38

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Khetri Copper Complex (KCC)
Dist: Jhunjunu, Rajasthan
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Reserves (As on 31.12.2020)

(mn tonnes)

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----- Start of picture text -----

1.18 1.50 1.38
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Resources

Mining Leases

	Area (sq. km.)	Expiry
KCC Mining Lease	3.9507	31/03/2040
Kolihan Mining	1.6323	31/03/2040
Chandmari Mining	1.4825	26/12/2022

Copper Ore Production

(‘000 tonnes)

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----- Start of picture text -----

(mn tonnes)
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----- Start of picture text -----

1.38 1.28 1.33
Average Grade
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Expansion Plans

• Increasing Khetri & Kolihan Mines capacity from 1.0 Mtpa to 3.0 (Phase-I) and upto 5.0 Mtpa (Ph-II)

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1119
1160 1349
664
FY18 FY19 FY20 Dec-20
Metal - in- Concentrate Production
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(‘000 tonnes)

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----- Start of picture text -----

11.3 11.2 8.7
4.8
FY18 FY19 FY20 Dec-20
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Source: Chartered Engineer certificate dated March 2, 2021

39

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ISO Certification
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Sl. No	Location	ISO Details		Scope
1	Corporate office & regional	ISO 9001:2015	•	Sales & Dispatch of Copper & Copper By-Products
	Sales office
2	Malanjkhand Copper project	ISO 9001 :2015	•	Open Pit Mining, Excavation of Copper ore
			•	Production & Dispatch of copper concentrate
		ISO 14001:2015	•	Open Pit Mining, Excavation of Copper ore
			•	Production & Dispatch of copper concentrate
		ISO 45001:2018
			•	Open Pit Mining, Excavation of Copper ore
			•	Production & Dispatch of copper concentrate
3	Taloja Copper project	ISO 9001:2015	•	Manufacture of continuous cast copper wire rods in
			diameter of 8mm, 11mm, 12.5mm,16mm & 19.6m
		NABL CERTIFICATION	•	Testing
		(ISO/IEC 17025:2017)
4	Khetri copper complex	ISO 9001:2015	•	Mining of copper ore from Khetri & kolihan Mines
			•	Beneficiation of Copper ore
5	Indian Copper Complex	ISO 9001:2015	•	Refinery cathode

40

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THANK YOU

March 2021