INTRODUCTION Hindustan Zinc Limited Hindustan Zinc Ltd.

was created from the erstwhile Metal Corporation of India (MCI) on 10th January 1966 as a Public Sector Undertaking in the mining industry. Industrial policy Resolution 1956 kept the extraction of ferrous and non-ferrous mineral resources in the core sector keeping the right of extracting the same exclusive to the government. Nationalization of Metal Corporation of India is to been seen in the context. The authorized and paid up capital of the company at the time of nationalization was Rs. 422.53 crore equally divided into 422531900 equity shares of Rs. 10 each. At the time of nationalization the company was having one mining unit i.e. Zawar Mines, in the State of Rajasthan, one smelting unit i.e. Tundoo Lead Smelter in the State of Bihar and another smelting unit is under construction i.e. Debari Zinc Smelter in the State of Rajasthan in its hand. The initial production capacity of Zawar Mines unit was 500 TDP and that of the Lead Smelter 500 TPA. After nationalization the government of Indias first task was the completion of the Debari Zinc Smelter under construction and its commissioning. The company has gradually increased its production capacity so as to match the demand supply position of lead and zinc. Today the Companys market share is about 70% and it is continuously striving for making the country a surplus one in respect of these two metals. In April 2002, Sterlite acquired a 46% interest in HZL from the Government of India and the open market, and it became a part of the Sterlite group. Since then HZL has been growing from strength to strength. In August 2003, Sterlite acquired a majority state in HZL by acquiring another 18.9% interest from the Government of India.

HZL produces Zinc, Lead and by-products viz. Cadmium, Sulphuric Acid and Silver. HZL achieved an all-time high production output of 81046.94 MT of Zinc concentrate during 2007-08.