New Delhi: State-owned Hindustan Copper (HCL) Ltd is pursuing Navratna status, with its Chairman and Managing Director (CMD) Sanjiv Kumar Singh emphasising the milestone as a testament to the company's improved operations, organisational excellence and strategic growth.
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This comes amid Hindustan Copper's aggressive expansion plans in mining operations. It operates the country's sole vertically integrated refined copper facility, handling exploration, mining, beneficiation, smelting, refining, and casting operations.
"We also remain steadfast in our pursuit of attaining Navratna status, which reflects not only our enhanced operational performance but also organisational excellence and strategic maturity. This aspiration continues to motivate us to raise our standards and push the boundaries of performance," the company's CMD said in a recent letter to his employees.
Navratna status, granted by the Department of Public Enterprises to top-performing public sector enterprises, offers greater financial and operational autonomy, including the ability to invest up to Rs 1,000 crore or 15 per cent of net worth on in-house projects without government approval.
The CPSEs, which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and have a composite score of 60 or above in six selected performance indicators, are eligible to be considered for the grant of Navratna status. Performance indicators include net profit or net worth, manpower cost to total production cost or cost of services and earnings per share.
The CMD, further said, during 2025-26, Hindustan Copper has made steady progress across multiple fronts, including strengthening the mining operations, advancing expansion and greenfield projects, improving system and processes.
The company has also taken significant steps towards digitalisation, operational efficiency and compliance.
Hindustan Copper Ltd is targeting a mining capacity of 12.2 million tonnes per annum (MTPA) from the current 4 MTPA by 2030.
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"As we look ahead, our focus remains firmly anchored on our long-term strategic objective of achieving 12.2 million tonnes per annum mining capacity by 20230. This vision is not merely a target but a comprehensive roadmap that encompasses capacity expansion, technological advancement, sustainability integration and human capital development," he said.
Hindustan Copper is a 'Mini-Ratna' Central Public Sector Enterprise company under the administrative control of the Mines Ministry.
Hindustan Copper Ltd has entered into a strategic partnership with Corporación Nacional del Cobre de Chile (CODELCO), the world’s largest copper producer, as part of its efforts to expand its global footprint.
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