Hindustan Copper Limited (HCL), a Government of India Enterprise, successfully conducted its 58th Annual General Meeting (AGM) on September 25, 2025, through video conferencing. The meeting saw robust participation from shareholders, with all 12 resolutions receiving approval.

Key Approvals

Shareholders gave their nod to several crucial resolutions, including:

1. Adoption of audited financial statements for the year ended March 31, 2025
2. Declaration of dividend for the Financial Year 2024-25
3. Appointment of key personnel:
   • Sanjiv Kumar Singh as Chairman and Managing Director
   • Sanjeev Kumar Sinha as Director (Operations)
   • RVN Vishweshwar as Director (Finance)
   • Ashish Saxena as Government Nominee Director
4. Appointment of secretarial auditors for five years
5. Ratification of cost auditor remuneration
6. Approval to issue secured or unsecured non-convertible debentures on private placement basis

Shareholder Participation

The AGM witnessed strong shareholder engagement:

• 82 shareholders were present, representing:
  • 639.61 crore promoter shares
  • 14.61 lakh public shares

Voting Process

The company ensured a transparent voting process:

• Remote e-voting was available from September 22 to September 24, 2025
• Electronic voting was also conducted during the AGM

Resolution Details

The voting results revealed strong support for all resolutions:

Conclusion

The overwhelming approval of all resolutions demonstrates strong shareholder confidence in Hindustan Copper's management and strategic direction. The successful conduct of the AGM through video conferencing highlights the company's adaptability to modern corporate governance practices.

Hindustan Copper Ltd (HCL) has seen its shares soar by 43% in September, marking its best monthly performance since December 2023. The stock has gained 17% over the last five trading sessions, with a 6% increase on Thursday alone.

Global Copper Prices and Market Dynamics

The surge in Hindustan Copper's stock price comes amid a broader rally in global copper prices. Copper prices are near their highest level in over a year, following Freeport-McMoRan's declaration of force majeure on contracted supplies from its Indonesian mine. This global supply constraint has created a favorable environment for copper producers like Hindustan Copper.

Hindustan Copper shares climbed 6.45% to Rs 328.25 following a spike in global copper prices after Freeport-McMoRan suspended production at Indonesia's Grasberg mine, the world's second-largest copper mine. The halt came after a fatal mudflow accident that killed two employees and left five missing, with 800,000 metric tons of wet material entering the mine. The Grasberg Block Cave represents 50% of PT Freeport Indonesia's reserves and 70% of forecast copper and gold production through 2029.

Copper futures rose 2.74% on CME to above $10,496.00 per tonne, while LME three-month copper gained 2% to $10,172.00 per tonne, reaching 15-month highs. Freeport lowered its production guidance and warned of potential supply contract issues. Freeport shares fell 10.4% while competitor stocks including Glencore, Teck Resources, and Antofagasta gained 3-7.4% on supply shortage expectations.

Increased Trading Activity

Trading volumes for Hindustan Copper shares have been exceptionally high, with over 2 crore shares traded compared to the 20-day average of 30 lakh shares. This increased activity suggests strong investor interest in the company.

Shareholding Pattern

The government holds a significant 66.00% stake in Hindustan Copper, while mutual funds own 2.74%, and Life Insurance Corporation of India (LIC) holds 4.67%. Notably, over 6.4 lakh small retail shareholders control 15.10% of the company, indicating substantial retail investor participation.

Expansion Plans and Production Targets

Hindustan Copper has outlined ambitious expansion plans to increase its ore production capacity to 12.20 million tonnes per annum (MTPA) by 2030-31. The company's Chairman and Managing Director, Sanjiv Kumar Singh, detailed the expansion strategy across three mining sites:

1. Malanjkhand Copper Mine (Madhya Pradesh): Production to increase from the current 2.90 MTPA to 5.00 MTPA.
2. Khetri Copper Complex (Rajasthan): Output to rise from 1.00-1.20 MTPA to 2.90 MTPA.
3. Indian Copper Complex (Jharkhand): Production to reach 4.30 MTPA, with contributions from Rakha (3.00 MTPA), Surda (0.90 MTPA), and Kendadih (0.40 MTPA) mines.

Operational Developments

• The company has recently obtained environmental clearances for its Rakha and Kendadih mines in Jharkhand, paving the way for increased production.
• Hindustan Copper is partnering with South West Mining Limited (a JSW company) as a Mine Developer and Operator (MDO) for the Rakha mine, with a revenue-sharing agreement of 12.50%.
• The company is investing in shaft equipping and new concentrator plants to support its expansion plans.

Financial Outlook

• Hindustan Copper expects to produce around 30,000 tonnes of Metal in Concentrate (MIC) in the current fiscal year, with plans to increase this to 80,000-90,000 tonnes as production ramps up to 12 MTPA.
• The company estimates a CAPEX requirement of approximately ₹2,000.00 crore over the next five years to achieve its expansion goals.
• Cost of production is estimated at $5,000.00-$6,000.00 per tonne, depending on the mine, with potential for optimization as operations scale up.

Strategic Partnerships

Hindustan Copper has entered into an agreement with Codelco, the world's largest copper producer, to enhance its technical capabilities and adopt global best practices in copper mining.

As Hindustan Copper continues to expand its operations and benefit from favorable global copper prices, investors will be closely watching the company's ability to execute its growth plans and capitalize on the increasing demand for copper in India's growing economy.