We are on the threshold of a massive expansion plan. We will increase our existing mining capacity from 4 million tonnes per annum to 20.2 million tonnes within five years, and pursue fresh leases for greenfield exploration within India.
In two years, we completed expansion projects in Rajasthan and Jharkhand with a combined capacity of 800,000 tonnes. When the five-year expansion drive is complete, seven million tonnes of ore will come from the Jharkhand belt, five million tonnes from Khetri, and another eight million from Malanjkhand.
With these projects, the availability of copper will increase from current 5% to 30% of India’s annual demand. Consequently, imports will decline by 25%. The expansion will enable us to employ 9,500 more people. It will help the company to remain profitable even if prices at the London Metal Exchange witness sharp falls.
In addition, we will produce additional value-added minerals through innovative means. For example, we are looking at several waste-to-wealth projects. We produce mining waste...