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Kolkata, Aug. 6 Hindustan Copper Ltd (HCL) has been conferred the status of Miniratna (Category I) by the Government. The central PSU, under the administrative control of the Union Ministry of Mines, will now have the operational freedom to implement various strategic objectives to pursue its growth plans, according to a press release issued here today.

The release states that HCL has posted profits for the last four years and its net worth stands at Rs 700 crore. With full redemption of its outstanding government-guaranteed loans amounting to Rs 150 crore, the organisation is now a debt-free company.

The Miniratna status will enable the HCL board of directors to take faster decisions and speed up implementation of the company’s growth plans.

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