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Hindustan Copper Ltd. Company History and Annual Growth Details

Hindustan Copper Ltd is the only company which has rights to mine copper ore. The company converts copper ore to cathodes, which is further upgraded to bars and rods.

New Office Complex at Calcutta : The company has constructed a new office complex, Tamra Bhavan at 1, Ashutosh Chowdary Avenue, Calcutta.

Progress of New projects Expansion schemes :

Modernisation of concentrator plant at KCC : Installation of larger capacity flotation cells and online stream analyser has been completed.

Expansion of Khetri Smelter and Refinery : Company is preposing expansion of Khetri Smelter and Refinery capacity from present 31000 to 100000 TPA partly based on imported concentrate. Government approval has already been received for stage -I clearance. The project is expected to be commisioned by the end of 1998.

Banwas Mine : To replace the low grade blocks and worked out levels of Khetri Mine, Banwas will be mined through Khetri mine upto 60 Mtr level. Necessary mine development activities have been initiated.

Gas Cleaning plant

Gas cleaning plant at both ICC and KCC have been completed.

Alkali Scrubbing Plant

Mechanical completion of Alkali Scrubbing Plant at both ICC and KCC is over.

DEVELOPMENT OF SSI AND ANCILLARY UNITS

HCL units at Khetri Copper Complex, Khetrinagar, Indian Copper Complex, Ghatsila and Malanjkhand Copper Project, Malanjkhand are extending necessary assistance to the SSI units for its development by placing orders on them. Plant level ancillary development committee meetings are held periodically. SSI and ancillary units are encouraged to develop import substitution items and all assistance are provided by the units.

Hindustan Copper Ltd. has incurred a loss of Rs. 99.32 crore during April-November 1996 due to decline in world copper prices, hike in input costs of petroleum products, tail freight, power tariff and reduction in customs duty. It suffered a loss of over Rs. 73 crore in the first six months of the 1996-97.

Hindustan Copper Ltd has decided to close down its largest mine in the East - Mosabani - in order to scale down the rising production cost. The HCL took decision at at its board of meeting in December 1996.

Hindustan Copper Ltd. and the Ministry of Mines have signed a memorandum of understanding (MoU) for 1997-98.

2002

-GOI has decided to divest its entire shareholding of 98.95% in the company since the company has incurred an accumulated loss of Rs.4484 million.

-The Musabonni Mines and Labour Union (MMLU) has filed a writ petition against the closure of Surda mine of Hindustan Copper Ltd.

2003

-CRISIL has placed the outstanding AAA rating assigned to Hindustan Copper Ltd's 15cr Non-Convertible bond programme on rating watch and developing implications.

-Hindustan Copper has touched a 52 week-high of Rs.51.10. The CCD has also cleared the way for the disinvestment of the company.

2004

-Inks target MoU with the government, fixing its parameters and targets for the fiscal year

2006

- Hindustan Copper Ltd (HCL) plans to maximise its copper ingot production and ore mining capacity, entailing an investment between Rs 1,500 crore and Rs 2,000 crore in phases.

2007
- Hindustan Copper plans to go for green filed exploration for copper and other mineral categories including gold.

2008
- Hindustan Copper received mini-ratna (category-I) status from the government that will give it a free hand in taking decisions on capital expenditure up to Rs 500 crore.

2009

- Hindustan Copper Ltd has informed that Sri. R C Sungla has been appointed as Director (Mining) with effect from February 18, 2009 in terms of the Ministry of Mines' order dated February 18, 2009.

2010

- Hindustan Copper today announced that its follow-on-public offer (FPO) of about Rs 4,000

- HCL granted Prospecting Lease for Baniwali Ki-Dhani in rajasthan

2011

- Hindustan Copper pays Rs 46.07 cr as final dividend to Union Ministry of Mines

2012

- Hindustan Copper gains over 13% in weak market

- Company has approved payment of dividend as recommended by the Board of20%

2013
-Hindustan Copper has recommended for payment of 20% dividend i.e. Re. 1.00 per share.

2014
-Hindustan Copper has recommended for payment of 20% dividend i.e. Re. 1.00 per share.

2016
-"Mines Secretary inaugurates Hind Copper's Nickel plant at Ghatsila".
-The Company has executed a Joint Venture Agreement (JVA) on August 30, 2016 with Chhattisgarh Mineral Development Corporation Ltd a Government of Chhattisgarh enterprise, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.

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