India’s mining sector is poised for major expansion, with ambitious targets and policy backing. The coal sector aims for 1 billion tonnes of production by 2024-25, led by Coal India Limited and NLC India. The steel sector is targeting a crude steel capacity of 300 million tonnes per year by 2030-31.
The expansion plans in India’s mining sector are expected to boost demand and revenues for mining companies, positively impacting their stock performance.
Here are few such Mining companies planning to expand production capacities:
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Coal India Limited (CIL)
Coal India Limited (CIL), the largest coal miner globally, operates across 83 mining areas in eight Indian states through its subsidiaries. The company manages 322 mines, including 138 underground, 171 opencast, and 13 mixed mines.
Coal India aims to increase its coal production to 1 billion tonnes by 2024-25, aligning with the national goal. For the next fiscal year, CIL targets a record output of 838 million tonnes and anticipates initial stockpiles of 80 million tonnes, representing a more than 15 percent increase from the previous year.
The company plans to open five new mines with a total capacity of 14.3 million tonnes per annum and expand 16 existing ones. CIL has also launched 21 new projects and 36 expansion projects.
With a market capitalization of Rs.3.28 lakh crore, Coal India’s stock price opened at Rs.526.25 per share on Thursday, gaining 0.05 percent from its previous close.
Neyveli Lignite Corporation Industries Limited (NLC India ltd)
NLC India Limited is an India-based company that is engaged in the business of mining of lignite, coal and generation of power by using lignite as well as renewable energy sources and consultancy.
The company plans to expand its Mining capacity is set to increase from 32.5 MTPA to 102.5 MTPA (million tonnes per annum). Key projects include the Ghatampur and Talabira Thermal Power Plants in Odisha, totaling 3,200 MW (MegaWatt).
It further plans to expand its Thermal power capacity from 4.6 GW (GigaWatt) to 11.14 GW by 2030, including a 1,320 MW lignite-based ultra supercritical boiler project in Neyveli. In renewable energy, it aims to grow from 1.4 GW to 6.97 GW by 2030, with over 2 GW of projects lined up for FY25.
With a market capitalization of Rs.38,673 crore, NCL India’s stock price opened at Rs.280 per share on Thursday, rising 2.64 percent from its previous close.
Hindustan Copper Limited
Hindustan Copper Limited (HCL) is engaged in the exploration, exploitation, and mining of copper and copper ore. Their activities include the beneficiation of minerals, as well as the smelting and refining of copper.
Hindustan Copper Limited (HCL) is expanding its mining capacity to 12.2 MTPA by FY 2028-29. Key projects include increasing Malanjkhand Copper Mines’ capacity from 2.5 to 5.0 MTPA, boosting Khetri and Kolihan Mines’ capacity from 1.0 to 3.0 MTPA, and expanding Surda Mine from 0.4 to 0.9 MTPA.
HCL also plans to reopen the Rakha Mine in Jharkhand. The company is further enhancing its focus on depth exploration to increase copper ore reserves.
With a market capitalization of Rs.32,038 crore, HCL’s stock price opened at Rs.328.50 per share on Thursday, declining 1.03 percent from its previous close.
Tega Industries Limited
Tega Industries Limited is an India-based company, which designs and manufactures consumables for the mining, mineral processing, and material handling industries.
The company plans to invest approximately $30 million in a new facility in Chile, expected to generate Rs.800 crore in revenue by June 2025, alongside a Rs.30 crore expansion at its Dahej plant in India.
The company has acquired McNally Sayaji Engineering Limited (MSEL), enhancing its product portfolio and global reach. Additionally, Tega is investing in capacity expansion by upgrading existing facilities and setting up new manufacturing plants. Tega Industries has projected a 15 percent revenue growth for FY25.
With a market capitalization of Rs.11,254 crore, Tega Industries’ stock price opened at Rs.1,668.95 per share on Thursday declining 0.17 percent from its previous close.
Written by – Siddesh S Raskar
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