PESB invites applications for Hindustan Copper's CMD post

Government head-hunter PESB has invited applications for the post of Chairman and Managing Director of Hindustan Copper Ltd (HCL).

The move comes at a time when the company has chalked out strategy, which includes reopening of closed mines, to augment production capacity to up to 20 million tonne per annum by 2024.

"The Public Enterprises Selection Board (PESB) is seeking qualified candidates for the post of Chairman and Managing Director (CMD), Hindustan Copper Ltd," the mines ministry said in a notification.

"The names of the candidates...may be kindly forwarded so as to reach the PESB by...July 3," it said.

Candidates working in private sector firm with annual turnover of Rs 2,000 crore or more can also apply for the post, it added.

At present, Santosh Sharma is the Chairman-cum-Managing Director of the PSU, which is under the administrative jurisdiction of the mines ministry.

The Cabinet had earlier approved a fresh equity issue of 15 per cent by HCL that will help the state-owned firm to raise over Rs 900 crore.

Sharma had said the company was aiming to enhance its capacity six times from present 3.6 MTPA to 20 MT by 2023-24.