Hindustan Copper Ltd Resolves Disputes with SEPC Ltd for Surda Mine Expansion Project

Hindustan Copper Ltd (HCL) has resolved its disputes with SEPC Ltd regarding the Surda Mine expansion project at Indian Copper Complex (ICC), Jharkhand. The Board of Directors was apprised of the amendment of the Contract Agreement dated 18.11.2011 in a meeting held on 05.02.2026. The dispute was resolved through a Settlement Deed executed on 08.12.2025. The settlement includes the amicable resolution of disputes under two contracts: the 1st Contract for shaft sinking, equipping, installation of ore handling facilities and allied excavations, and the 2nd Contract for operation and maintenance of Surda Mine and Mosabani Concentrator Plant. The mutually agreed amounts for settlement are INR 18.78 crore for the 1st Contract and INR (amount to be released upon achieving agreed milestone) for the 2nd Contract. This settlement has no financial impact on the profitability of the company as it relates to a mine expansion project.