Hindustan Copper Limited (HCL)

4-Jan-2023: Hindustan Copper Ltd Signs MoU with IIT (ISM), Dhanbad for Technical Collaboration

A Memorandum of Understanding (MoU) for collaborative and sponsored research projects was signed between Hindustan Copper Limited and Indian Institute of Technology (Indian School of Mines), Dhanbad, at HCL Corporate Office in Kolkata in the presence of Mr. Arun Kumar Shukla, CMD, HCL, Professor Rajiv Shekhar, Director, IIT (ISM), Dhanbad.

The first technical collaboration with IIT (ISM), Dhanbad, is a momentous occasion for HCL, the only copper miner in India, owning all the operating mining leases of copper ore in the nation. Presently, majority of ore production comes through underground mode only and the level of ore production is hovering around four million tonnes per annum.

Due to the complex geological characteristics of the ore body and the increased depth of mining, various geo-technical and ground water related issues along with technical/ operational problems are being faced during the process of production along with maintaining safety standards and dealing the emerging sustainability issues.

HCL is in its expansion phase with about three fold enhancement of ore production capacity wherein development activities in projects are either on-going in nature or already planned in most of its mines. At present, the mined out ore is processed at its own ore beneficiation plants and the Metals in Concentrate (MIC) is sold partially in domestic market and the rest in international market.

IIT-ISM, Dhanbad, being an Institute of national repute, particularly in the fields of mining of minerals and its beneficiation and Earth Sciences, will play a key role in solving the emerging geological, technical, environmental, sustainable and ore beneficiation issues for achieving the envisaged expansion programme of HCL.

The present MoU will address HCL’s need for technical assistance, guidance and consultancy work from IIT-ISM for enhancing copper ore production through modifying mining methods with application of state-of-the-art technologies, improvement of productivity and safety in mines, environmental clearance issues, various Hydrological & Hydro-geological studies and in areas of unconventional exploration methods like Geophysical exploration, Remote Sensing etc. for depth exploration of copper ore. The Company desires to partner IIT-ISM in taking up R&D projects for improvement of Indian copper mining sector, training and development of HCL Engineers and Managers for skill set development and knowledge up-gradation in the areas of exploration, ore beneficiation and various other statutory/ mine regulation amendments or related issues.

4-Jan-2023: Hindustan Copper Ltd Signs MoU with IIT (ISM), Dhanbad for Technical Collaboration

2022

26-Oct-2022: Hindustan Copper Ltd Pays Rs. 74.20 Crore

Hindustan Copper Ltd, a Miniratna Category-I PSU (Schedule A), under the Ministry of Mines, has paid today a dividend of Rs.74.20 crore to the Government of India for FY 2021-22 being 30.01 % of Profit After Tax (PAT) in compliance of DIPAM guidelines. This is equivalent to 23.20% of equity share capital. Earlier, the dividend was approved by the shareholders of the Company at 55th Annual General Meeting held in September this year. Total dividend pay-out to all shareholders is Rs.112.17 crore. The dividend per share is the highest ever declared by the Company.

During FY 2021-22, the Company achieved the highest ever net turnover of Rs.1812 crore and Profit Before Tax of Rs.381.76 crore. The Company is currently implementing its mine expansion plan to achieve 12.2 million tonnes per annum ore production.

2021

2-Jul-2021: HCL achieves total income of Rs 1821.61 crore in FY 20-21; registers a net profit of Rs 109.98 crore

Hindustan Copper Limited (HCL) - a CPSE under Ministry of Mines, Government of India declared their annual results for FY 2020-21.

The results have reflected a turnaround story. Inspite of the Covid-19 pandemic , the company has been able to achieve a total income ₹1821.61 crore in FY 2020-21 as compared to ₹888.81 crore in FY 2019-20. The company also achieved a Net profit of ₹109.98 crore this year as against a loss of ₹ 569.21 crore in the FY 2019-20.

The company has been able to declare dividend of a total amount of ₹33.85 crore to be paid in FY 2021-22, as per the guidelines issued by Department of Public Enterprises. HCL has been able to reduce its debt burden resulting in a debt equity ratio of 2.11 reduced from earlier year's 4.21.

The company has also been continuously supporting the Government initiatives and creating infrastructure required towards mitigation of Covid-19 pandemic nearby its mining units for the local population and for its employees.