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Hindustan Copper
BSE: 513599|NSE: HINDCOPPER|ISIN: INE531E01026|SECTOR: Metals - Non Ferrous
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Company History - Hindustan Copper
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%
Source : Dion Global Solutions Limited
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