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History of Hindustan Copper Ltd.

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

New Office Complex at Calcutta : The Comp. 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 & online stream analyser has been completed.

Expansion of Khetri Smelter & Refinery : Comp. is preposing expansion of Khetri Smelter & 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 end of 1998.

Banwas Mine : To replace the low grade blocks & 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 & KCC have been completed.

Alkali Scrubbing Plant

Mechanical completion of Alkali Scrubbing Plant at both ICC & KCC is over. DEVELOPMENT OF SSI AND ANCILLARY UNITS

HCL units at Khetri Copper Complex, Khetrinagar, Indian Copper Complex, Ghatsila & 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 & ancillary units are encouraged to develop import substitution items & all assistance are provided by the units.

Hindustan Copper limited 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 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 limited & the Ministry of Mines have signed a memorandum of understanding [MoUs] for 1997-98.

2002

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

-The Musabonni Mines & Labour Union [MMLUs] 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 15cr Non-Convertible bond programme on rating watch & developing implications.

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

2004

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

2009

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