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Tamralipi - A House Journal of Hindustan Copper Limited

Hindustan Copper Limited Officers Association Malanjkhand

From the Chairman's Desk. Hindustan Copper Limited has become a part of me, and will continue to remain so for all times. I shall look forward to Hindustan Copper Limited scaling new Heights, and will always pray for bask in your success and glory. Hindustan Copper Limited to stay for ever. Hindustan Copper Limited is there to shine for good. My Best Wishes to you all and to your Families. Satish C. Gupta (Chairman-cum-Managing Director)         Read More June - July 2009 Vol. 57 Indian Mining Legislation  Home Mining Consultant

  • Dear Colleagues.

    In the recent communication to you I had drawn attention to the global meltdown, he plummeting demand for metals and the consequent fall in metal prices. Copper which was selling at US Dollar 9138 per tonne in July 2009 is now levering around US Dollar 3000 per tonne. As our selling price is determind by the LME price, sales revenues have fallen affecting our profitability. 

    You would, therefore, agree that the time has come to strive hard to achieve breakeven at LME price of US Dollar 2700 per tonne as soon as possible. 

    It will be imperative for us to achieve high standards of operational efficiencies and reduce coast of production. We must improve operational parameters such as Yield and recovery. Consumption of power and fuel must be within specified norms. There shuld be no wastage of misuse of resources.

    The need to attain self-sufficiency in production of metal-in-concentrate (MIC) from our mines and plants is more urgent than even before. Actions already identified for increasing ore production have to be expedited not only by higher output from existing mines but also by reopening closed mines.

    To minimize the ipact of lower LME prices in the short term, normal price discounts on our products have been eliminated. Disposal of idle assets and other saleable wastes, like dump slag / cinder ash is being expedited to facilitate internal generation of cash.

    In view of paucity of funds, the R&R (replacements and renewals) budget for 2008-2009 is being revisited to reduce the outlay. We may also have to defer certain modernization projects. Priority for Expenditure will, however, be given to items that will facilitate higher production of in-house MIC.

    Certain employee’s benefits have been temporarily suspended and administrative overheads cut down. Efforts are, however, being made to minimize the hardships. I seek your co-operation and support.

    It is the need of the hour to understand the hurdles that we are going through and deliver our best while bearing with the hardships. There is need for concerted efforts and patience on the part of each one of us. I am sure this difficult time will soon pass and we shall come out stronger.

    The New Year 2009 may begun on a discordant note – why not fine tune ourselves to end it with a flourish!

    With best wishes to you and to your family.

    Satish C. Gupta

    (Chairman-cum-Managing Director)

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