Hindustan Copper Limited (HCL), a Miniratna Category-1 Status Company is a Central Public Sector Undertaking (CPSE) under the administrative control of Ministry of Mines, Government of India. The Company is engaged in Exploration, Exploitation, Mining of Copper and Copper Ore including Beneficiation of Minerals, Smelting and Refining. Company works copper mines & concentrator plants in Malanjkhand Copper Project at Madhya Pradesh (MCP), Khetri Copper Complex at Rajasthan (KCC) and Indian Copper Complex, Ghatsila at Jharkhand (ICC).
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Hindustan Copper Limited (HCL), a Miniratna Category-1 Status Company is a Central Public Sector Undertaking (CPSE) under the administrative control of Ministry of Mines, Government of India. The Company is engaged in Exploration, Exploitation, Mining of Copper and Copper Ore including Beneficiation of Minerals, Smelting and Refining. Company works copper mines & concentrator plants in Malanjkhand Copper Project at Madhya Pradesh (MCP), Khetri Copper Complex at Rajasthan (KCC) and Indian Copper Complex, Ghatsila at Jharkhand (ICC).
Presently, HCL is operating Smelter & Refinery Plant at ICC and Gujarat Copper Project, Gujarat (GCP) for production of copper cathode and thereafter conversion of Cathode to Copper Wire Rod at Taloja Copper Project, Taloja, Maharashtra (TCP). The President of India is holding 66.14% of the equity capital in the Company as at 31 March, 2025.
The Company is the only vertically integrated producer of primary refined copper in India. The Company markets copper cathodes, copper wire bar, continuous cast copper rod and by-products, such as anode slime (containing gold, silver, etc.), copper sulphate and sulphuric acid.
Hindustan Copper Limited was incorporated on November 09, 1967 as Government Company with the name Hindustan Copper (Pvt) Ltd. In February 27, 1968, the Company converted into a Public Limited Company and name was changed to Hindustan Copper Limited. During the year, the assets of National Mineral Development Corporation Ltd at Khetri, Rajasthan were transferred to the Company.
In the year 1972, the Government of India nationalized the Indian Copper Corporation Limited at Ghatsila, Jharkhand and handed over to the company. In the year 1976, the company commissioned the smelter plant with capacity of 31,000 TPA. In year 1982, Company commenced Malanjkhand Copper Project (MCP) at Malanjkhand, Balaghat district in Madhya Pradesh.
In year 1989, the Company commissioned CC Rod plant at TCP with installed capacity 60,000 TPA, using southwire SCR- 2000 technology and natural gas as fuel. In year 1993, Promoter of the Company sold 3,411,000 Equity Shares to Life Insurance Corporation of India, General Insurance Corporation of India, Manali Investment & Finance (Pvt.) Ltd. and GIC Mutual Fund. In year 1994, Equity Shares of the Company were listed on the Bombay Stock Exchange Ltd (BSE).
The Government of India approved the restructuring of the company in the year 1999, 2002 and 2008. In the year 2008, the company was granted 'Miniratna-Category I' status by the Government of India.
The company has started processing of low grade sulphide ore (average copper content of 0.3% or less) due to buoyancy in copper prices and is working on a research & development project to exploit low grade sulphide ores through bio-leaching technology at MCP.
The company plans to expand their current production level of approximately 3.21 MTPA to an expected mining capacity of at least 12.41 MTPA by the end of fiscal 2017. The expansion plan includes, expanding their existing mines, namely the Malanjkhand mine of MCP, the Khetri mine and Kolihan mine of KCC as well as the Surda mine of ICC, reopening some of their mines that were closed in the past and renewing their mining leases, namely the Kendadih mine and Rakha mine of ICC and establishing new mines, namely the Banwas mine at KCC and the Chapri-Sideshwar mine at ICC.
During the year 2013-14, the Government of India, pursuant to SEBI guidelines for Offer for Sale' through the Stock Exchange mechanism sold 3,71,19,152 equity shares out of its existing shareholding in the Company on 3rd July 2013 and mobilized an amount of Rs. 259.84 Crores. Consequently, the Government shareholding in the Company has come down from 94.01% to 90% making the Company compliant with SEBI requirement of 10% Minimum Public Shareholding in listed Public Sector Companies.
During the year 2017, the expenditure on account of Replacements & Renewals (R&R) of plant & machinery, mine expansion, mine development & green field exploration stood at Rs 400.66 crore which was funded through the internal resources of the Company.
During the year 2018, the expenditure on account of Replacements & Renewals (R&R) of plant & machinery, mine expansion, mine development & green field exploration stood at Rs. 589.81 crore which was funded through the internal resources of the Company.
During the FY2019, the expenditure on account of Replacements & Renewals (R&R) of plant & machinery, mine expansion, mine development & green field exploration stood at Rs 602.46 crore which was funded partially through internal resources of the Company and partly through borrowings from banks.
HCL has invested Rs 18.50 Lakhs in the equity shares of its subsidiary Chhattisgarh Copper Ltd (CCL) during the year ended 31 March, 2019, out of which 74% equity is held by HCL and remaining 26% is held by Chhattisgarh Mineral Development Corporation Ltd.
During the FY2020, the expenditure on account of Replacements & Renewals (R&R) of plant & machinery, mine expansion, mine development & green field exploration stood at Rs 452.96 crore which was funded partially through internal resources of the Company and partly through borrowings from banks.
During the year 2021, HCL has invested Rs. 75 Lakhs in the equity shares of Khanij Bidesh India Ltd (KABIL), a JV company between NALCO, HCL and MECL, which incorporated on 8th August, 2019 to identify, acquire, develop, process and make commercial use of strategic and other minerals in overseas locations for supply in India. The shareholding of NALCO, HCL and MECL in the JV Company is in the ratio of 40:30:30.
During the year 2021, HCL has made additional investment of Rs. 14.80 Lakhs in the equity of its subsidiary viz. Chhattisgarh Copper Ltd (CCL), out of which 74% equity is held by HCL and remaining 26% is held by Chhattisgarh Mineral Development Corporation Ltd.
In May, 2022 HCL has made additional investment of Rs. 9 crore in the equity shares of Khanij Bidesh India Ltd (KABIL), a JV company between NALCO, HCL and MECL, which incorporated on 8th August, 2019 to identify, acquire, develop, process and make commercial use of strategic and other minerals in overseas locations for supply in India. The shareholding of NALCO, HCL and MECL in the JV Company is in the ratio of 40:30:30.
During the year 2022, HCL has made additional investment of Rs. 7.4 Lakh in the equity shares of its subsidiary viz. Chhattisgarh Copper Ltd. (CCL), out of which 74% equity is held by HCL and remaining 26% is held by Chhattisgarh Mineral Development Corporation Ltd.
During FY 2022-23, 17,249 m of surface drilling and 12,660 m of underground definition drilling was completed. Extension of ore bodies proved upto about 650 m vertical depth in Rakha Block and up to about 750 m vertical depth in Kendadih Block. As on 1.4.2022, copper ore reserve and resources of the Company was 631.85 million tonnes. The geological drilling work was completed in FY 2022-23.
During the year, HCL has made additional investment of Rs 6.30 Lakh in the equity of its subsidiary viz. Chhattisgarh Copper Ltd (CCL), out of which 74% equity held by HCL and remaining 26% held by Chhattisgarh Mineral Development Corporation Ltd.
The 4.5MWp Ground Mounted Solar Plant commissioned at HCL's Malanjkhand Copper Project in Madhya Pradesh in 2024. The Company has installed underground mine communication system using leaky feeder cable with traffic management system at Malanjkhand Copper Underground mine. Solar panels installed at KCC Hospital. Alternative option for Continuous cast wire rods (CCR) production at TCP unit i.e. third-party tolling of cathodes to CCR production is taken into account. To complete the residual work of underground mine construction
for capacity expansion, a consultancy contract was entrusted on M/s MECON, a reputed CPSE Consultancy Organization, for estimation of value of residual work, preparation of NIT document and evaluation of tenders which have been divided in multiple parts (Mine Excavation at North Side, Mine Excavation at South Side, Shaft Furnishing, Men & Material Hoisting system, Crushing & Pumping system, Power system, Main Mechanical Ventilator) to complete the work in an efficient manner. The Surda Mine project in Jharkhand production capacity has been increased to 0.9 MTPA from 0.4 MTPA in FY24.
In FY 2025, Malanjkhand underground project achieved ore production of 27.252 lakh tonnes in FY 2024-25, representing a 7% increase over the previous year's actual production. The 3.00 MTPA Paste Fill Plant for backfilling voids in the underground mine at MCP was commissioned in February, 2025. Production at Surda mine in Indian Copper Complex (ICC) unit resumed operations on 05.10.2024.
In FY 2024-25, an underground leaky feeder-based communication system covering 16 km of the mine was installed and commissioned at Malanjkhand Underground Project. HCL has signed a historical Memorandum of Understanding with CODELCO (Corporacion Nacional del Cobre), the State-owned Copper Mining Company of Chile, in April, 2025 to facilitate exchange of expertise & technical know-how and enhancing capabilities in mineral exploration and processing. Also, an MoU was signed between HCL, Madhya Pradesh State Mining Corporation Ltd and the Directorate of Geology & Mining, Madhya Pradesh on 25.02.2025 for exploration of critical minerals including copper in Madhya Pradesh.
