New Delhi (29.01.2023): Hindustan Copper Limited observed the 74th Republic Day 2023 with full spectacle. HCL CMD Arun Kumar Shukla hoisted the national flag on the occasion in the presence of Director (Operations) Sanjay Panjiyar, Director (Mining) Sanjiv Kumar Singh & other senior officials at HCL Corporate Office in Kolkata.
In his address, Arun Kumar Shukla said that HCL, in service of the nation since 1967, has been entrusted with the responsibility to ensure efficient utilization of the country’s Copper resources on a sustainable basis. The Company is committed to its mission of enhancing its ore production capacity. Underground mine expansion is in progress in Malanjkhand Copper Project in Madhya Pradesh where the State Government has extended the validity of copper mining lease till 27.08.2043.”
Shukla said that HCL desires to appoint a Mine Developer Cum Operator for re-opening and expansion of Rakha Copper Mine, Development & Operations of Underground Mine at Chapri and commissioning of a matching capacity new concentrator plant at Indian Copper Complex, Jharkhand, through revenue sharing model. Further, Shukla also mentioned that the company has enhanced its focus on depth exploration within its mining lease areas. Meanwhile, with completion of replacement of crusher in the Kolihan mines last year, HCL is looking forward to uninterrupted and augmented production of Copper concentrate in Khetri Copper Complex in Rajasthan.
HCL has achieved a Profit Before Tax of Rs 381.72 crore and a highest ever net Turnover of Rs 1812.21 crore in FY 2021-22, Shukla said. The loan liability of the Company has been reduced from a peak of around Rs 1650 crore in June 2020 to around Rs 280 crore as on 16.01.2023. The Company has paid a dividend of Rs 74.20 crore to the Government of India for FY 2021-22 in October 2022. Total dividend pay-out to all shareholders is Rs 112.17 crore, which is 30.01 per cent of Profit After Tax (PAT), in compliance with DIPAM Guidelines. HCL was felicitated as a sectoral star at the Fortune India’s “The Next 500: Breaking news Frontiers” event at New Delhi on 24.06.22 for its outstanding performance in the Metal Industry. As one of the welfare measures, wage revision for workmen has been settled for the period 2017 – 2027. Recruitment in various disciplines have been geared up in consonance with the launch of recruitment drive mission by Prime Minister Narendra Modi.
