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HCL posts Rs 28.55 cr profit in Q2, to form JV with MECL, NALCO (Lead)

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Kolkata, Nov 10 (IANS) State-run Hindustan Copper Ltd (HCL) on Friday reported that its net profit jumped over four times to Rs 28.55 crore for the quarter ended September 30 as compared to Rs 6.77 crore in the year-ago period.

The miner is set to form a joint venture company with National Aluminium Company Ltd (NALCO) and Mineral Exploration Corporation Ltd (MECL) for exploration and mining strategic minerals aboard.

“Our board has approved the joint venture proposal, so has the board of MECL. Once the NALCO board approves the proposal, a company will be formed to deal in the area of strategic minerals,” company’s Chairman and Managing Director Santosh Sharma told reporters.

The proposed joint venture company named KABIL – Khanij Bidesh India Ltd – will be formed to explore and exploit rare metals such as titanium, gallerium and rhenium, which could be used in defence equipment, spacecraft and shipbuilding.

Sharma said the JV company would primarily deal with government to government business and would look at the African countries and Canada for the exploration of these minerals.

HCL’s revenue from operations, in the quarter under review, stood at Rs 519.33 crore, up by 187 per cent from Rs 180.78 crore in the year-ago period.

The miner also reported that its total expenses in the second quarter of the current fiscal was at Rs 495.77 crore as against Rs 204.52 crore in the corresponding quarter last year.

The city headquartered company is presently implementing mine expansion scheme to quadruple its copper ore production capacity from 3.4 million tonnes to 12.4 million tonnes per annum within the next five years.

The company said its board has approved the proposal to increase the borrowing limits from consortium or other banks by way of overdraft or cash credit or working capital demand loan up to an aggregate of Rs 650 crore.

The copper sales volume in the first half of fiscal 2017-18 increased by 85.38 per cent to 20,323 tonnes compared to 10,963 tonnes in corresponding period of the last year, the company added.

The company is also in the process of investing about Rs 200 crore for extracting precious metals such as gold and silver from its copper tailings or the copper left behind after extraction from the ore.

“If we process 10,000 tonnes of copper tailings a day we can get close to 1.1kg of gold and 11 kg of silver a day,” Sharma added.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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