Hindustan Zinc

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Hindustan Zinc Limited
Traded as
Industry
Founded1966; 58 years ago (1966)
HeadquartersUdaipur, Rajasthan, India
Area served
India
Key people
  • Mr. Agnivesh Agarwal
    (Chairman)
  • Mr. Sunil Duggal
    (CEO)
  • Mr. Swayam Saurabh
    (CFO)
Products
RevenueIncrease ₹22,084 crore (FY 2018)
Number of employees
6,742
ParentVedanta Limited (64.92%) [2] Government of India (35.08%)
Websitehzlindia.com

Hindustan Zinc Limited (HZL) was a Central Public Sector Undertaking, an Indian integrated mining and resources producer of zinc, lead, silver and cadmium . It was sold by Government of India to Vedanta Limited when Atal Bihari Vajpayee and Bharatiya Janta Party Government was in power in the year 2003. It is now a subsidiary of Vedanta Limited.[3] HZL is the world's second largest zinc producer.[4] Its FY2018 revenues stood at ₹22,084 crore.[5] They are one of the world's largest integrated producers of zinc and are among leading global lead and silver producers.

History[edit]

See also: Disinvestment of Public Sector Units in India

Hindustan Zinc Limited was incorporated from the erstwhile Metal Corporation of India on 10 January 1966 as a Public Sector Undertaking.

In 2001, as part of the Government's disinvestment program of loss-making PSU's, the company was put up for sale.[6][7]

In April 2002, Sterlite Opportunities and Ventures Limited (SOVL) made an open offer for acquisition of shares of the company; consequent to the disinvestment of Government of India's (GOI) stake of 26% including management control to SOVL and acquired additional 20% of shares from public, pursuant to the SEBI Regulations 1997. In August 2003, SOVL acquired additional shares to the extent of 18.92% of the paid up capital from GOI in exercise of call option clause in the share holder's agreement between GOI and SOVL.

With the above additional acquisition, SOVL's stake in the company went up to 64.92%. Thus GOI's stake in the company now stands at 29.54%. SOVL was merged with Sterlite Industries India Ltd in April 2011.[8] Sterlite Industries merged with Sesa Goa Ltd to form Sesa Sterlite Limited in August 2013. Sesa Sterlite was renamed to Vedanta Limited in April 2015.[9] Hindustan Zinc is now a direct subsidiary of Vedanta Limited.

Operations[edit]

Mining[edit]

HZL operates the world's third largest open-pit mine, and World's largest Zinc Mine in Rampura Agucha, Rajasthan. Other mines with HZL are located in Rajpura and Dariba, Sindesar Khurd, Kayar and Zawar, all in Rajasthan.[10]

HZL is one of the lowest cost zinc producers in the world.[11]

Smelting[edit]

HZL operates Zinc and Lead smelters and refineries at Chanderiya (Chittorgarh), Debari (Udaipur) & Dariba (Rajsamand) in Rajasthan with total zinc and lead production capacity of 10 lakh tonnes. A smelting facility was established at Pantnagar in Uttarakhand. It was initially intended to serve as a smelting facility for Silver production, but later Zinc and Lead melting and casting plants were also established here. The total metal production was 8,80,000 tonnes for year 2014–2015.[12] It also has zinc smelter in Vizag, Andhra Pradesh, where operations have been suspended since February 2012.[13]

References[edit]

  1. ↑ "Hindustan Zinc Limited – Products". www.hzlindia.com.
  2. ↑ "Latest Shareholding Pattern – Hindustan Zinc Ltd". trendlyne.com. Retrieved 2 August 2020.
  3. ↑ "Latest Shareholding Pattern – Hindustan Zinc Ltd". trendlyne.com. Retrieved 2 August 2020.
  4. ↑ "Beneath The Surface: How Hindustan Zinc Grew To Become The World's Second Largest Zinc Producer". Forbes India. Retrieved 2 August 2020.
  5. ↑ "News Article".
  6. ↑ [1]
  7. ↑ "Sterlite seeks majority stake in Hindustan Zinc". www.rediff.com. Retrieved 2 August 2020.
  8. ↑ "Directors' Report FY 2013 of Sterlite Industries".
  9. ↑ "Pg 77 of Vedanta Limited Annual Report FY 2015" (PDF).
  10. ↑ "Hindustan Zinc Limited – Home". www.hzlindia.com.[permanent dead link]
  11. ↑ "FindArticles.com – CBSi". findarticles.com.
  12. ↑ "Annual Report FY 2015 Pg 11" (PDF).
  13. ↑ "Annual Report FY 2013 Pg 65" (PDF).

External links[edit]

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