Rakha mines was first started by a British firm in 1900 to mine copper. The mine is currently owned by Hindustan Copper Ltd (HCL). The Rakha mines have remained closed since 2001 due to negative economies of scale. HCL had invited global tenders in 2010 for re-opening, operation and expansion of Rakha Mine to produce at a rate of 1.5 million tonne per year of copper ore, located in the Indian Copper Complex, Jharkhand. The company has now collaborated with India Resources Ltd (IRL), the Indian wing of an Australian mining company. The plans are being finalised to re-start production. The environment clearances are expected by March 2014. HCL is spending Rs 100 crore to revive Rakha mine. IRL is positive about restarting the work in the next quarter.