|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
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
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.
-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.
-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.
-Inks target MoU with the government, fixing its parameters and targets for the fiscal year
- 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.
- Hindustan Copper plans to go for green filed exploration for copper and other mineral categories including gold.
- 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.
- 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.