Hindustan Copper Limited (HCL), a Miniratna Central Public Sector Enterprise under the Ministry of Mines, plans to diversify its portfolio by bidding for critical minerals and rare earth element (REE) blocks alongside other PSUs such as Indian Oil Corporation Ltd (IOCL), GAIL (India), and RITES. HCL’s Chairman and Managing Director, Sanjiv Kumar Singh, revealed that the company will soon enter into a non-binding agreement with IOCL and GAIL to collaborate on such ventures.
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HCL intends to participate in auctions for copper, critical minerals, and REE blocks put up by the Ministry of Mines and state governments. The company will evaluate opportunities on a case-by-case basis and form partnerships with other PSUs to bid for these blocks. Additionally, HCL plans to collaborate with Coal India Ltd (CIL) for exploration activities related to copper and other critical minerals in Chile.
A dedicated HCL team is already conducting due diligence to finalize the blocks in which the company will participate. Earlier this month, RITES Ltd signed an agreement with HCL to jointly develop supply chains for metals and minerals, focusing on exploration, extraction, refining, and production both domestically and internationally. This partnership also covers participation in mineral block auctions and mining infrastructure development.
HCL currently operates copper mines in Malanjkhand (Madhya Pradesh), Khetri (Rajasthan), and Ghatsila (Jharkhand). The company primarily focuses on exploration, mining, and beneficiation of copper ore to produce and sell copper concentrate, which offers improved profitability amid market fluctuations.
The company’s financial performance has seen strong growth, with profit before tax increasing by 54 percent to Rs 633.51 crore in FY 2024-25, up from Rs 410.43 crore in FY 2023-24. Revenue from operations reached a record Rs 2,070.97 crore, a 21 percent rise from Rs 1,717 crore the previous year. Profit after tax also surged by 42 percent to Rs 468.53 crore in FY 2024-25, compared to Rs 295.41 crore in FY 2023-24, marking a robust year-on-year growth.
Hindustan Copper Limited
Hindustan Copper Ltd (HCL) is a public sector enterprise under the Ministry of Mines, Government of India, and the country’s only vertically integrated copper producer. It is involved in mining, beneficiation, smelting, refining, and continuous cast rod manufacturing.
