Hindustan Copper Limited — Others, 11-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Hindustan Copper Limited has announced a board meeting to review the Statement of Deviation in the utilization of funds raised through the Qualified Institutional Placement (QIP) of ₹500 crore. For the quarter ended September 30, 2024, the Audit Committee confirmed that there have been no deviations or variations in the use of the funds. The proceeds are intended to enhance copper ore production as part of a phased expansion plan, targeting an increase from 3.97 MTPA to 12.2 MTPA. This update may lead to a positive outlook among investors, reinforcing confidence in the company’s strategic growth initiatives.