Page 4 - Copper

Shift in copper market dynamics: Changing fortune of two companies

As one incumbent struggles legally, a new entrant is planning to ramp up capacity, according to schedule

Adani group to source copper concentrates from Peru, Chile, Australia

Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, expects to start its operations in the next few weeks

SC dismisses Vedanta's plea against closure of copper plant in Thoothukudi

The Supreme Court on Thursday dismissed a Vedanta group's plea against the closure of its copper smelting plant in Tamil Nadu's Thoothukudi. The plant has been closed since May 2018 after 13 people were killed as police opened fire to quell a protest over alleged pollution caused by it. A bench headed by Chief Justice D Y Chandrachud said the health and welfare of residents of the area is a matter of "utmost concern" and the state government is responsible for preserving and protecting their concerns. " we have come to the conclusion that the Special Leave Petition (SLP) by the industrial unit shall not warrant interference under Article 136 of the Constitution. For the above reasons, the SLP shall stands dismissed," the bench, also comprising justices J B Pardiwala and Manoj Misra, said. The Madras High Court had in August 2020 rejected Vedanta's plea for allowing reopening of its Sterlite Copper unit.

SC proposes to inspect closed Vedanta group's copper plant in Tamil Nadu

The Supreme Court on Wednesday proposed a panel of domain experts to inspect the closed Sterlite copper unit in Tamil Nadu's Tuticorin and suggest further compliances and way forward, saying shutting down a plant of national importance will not serve anybody's purpose. The plant is closed since May 2018 after 13 people were killed as police opened fire to quell a protest over alleged pollution caused by it. The top court, while hearing a plea by the Vedanta group company, mooted the idea of setting up of a panel of experts and sought views of the firm, the Tamil Nadu government and the state pollution control board. Ultimately, shutting down the plant of national importance will not serve anybody's purpose, a bench comprising Chief Justice DY Chandrachud and Justices J B Pardiwala and Manoj Misra observed. The bench, however, made it clear that it cannot grant permission to the firm to refurbish the plant as an interim order. The bench, which heard the submissions of senior advoca

Hindustan Copper Q3 results: Profit falls 21% to Rs 63 cr on lower revenue

State-owned Hindustan Copper on Tuesday reported 21.44 per cent decline in consolidated net profit at Rs 63 crore for the quarter ended December 31, 2023 due to lower revenue from operations. The company had posted a net profit of Rs 80.20 crore for the year-ago period, Hindustan Copper said in a filing to BSE. Revenue from operations in the quarter dropped to Rs 399.29 crore from Rs 557.04 crore in the year-ago period. Hindustan Copper is under the administrative control of Ministry of Mines.

Vedanta weighs sale of minority stake holding in Zambian copper assets

Vedanta will remain the majority shareholder in the unit if a minority stake is sold, Griffith said in an interview on the sidelines of an African mining conference in Cape Town

Gautam Adani's copper foray may further tighten global supply of ore

India's imports of copper concentrate could grow to as much as 2 million tons in 2024, from 1.3 million tons estimated for this year, said Soni Kumari, commodity strategist at ANZ Banking Group

Govt rolls out quality mandate for copper products, drums, tin containers

The government has issued mandatory quality norms for copper products, drums and tin containers to curb the import of sub-standard goods and boost domestic manufacturing of these goods, an official statement said on Monday. Two separate notifications - Drums and Tins (Quality Control) Order, 2023; and Copper Products (Quality Control) Order, 2023 - in this regard were issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on October 20. Items under these two orders cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. These orders will come into force with effect from six months from the date of publication of this notification, the DPIIT said. Copper and its alloys are used in power generation, power transmission, telecommunications, electrical circuits, and several appliances. So, copper products need to be of the best quality, and the purity must not be compromised at any cost. The nine copper .

Adani Group's greenfield copper facility to start operations from March

Group has invested $1.1 bn in greenfield refinery in Mundra

Vedanta boss Anil Agarwal floats plan to consolidate copper assets

Mulls transfer of Zambia copper resources to listed Indian arm

Hindalco to invest Rs 2,000 crore in copper, e-waste recycling facility

Birla also expressed optimism about India's economic prospects, calling the country the 'only bright spot' among global economies

Non-ferrous industry earnings to remain under pressure in FY24: Icra

Earnings of domestic non-ferrous metal industry players remain under pressure in the ongoing fiscal amid weak demand, according to Icra. Due to global macroeconomic uncertainties and weaker-than-earlier expected recovery in Chinese demand, international prices of the three non-ferrous metals viz. aluminium, copper and zinc fell by 11 per cent, 8 per cent and 30 per cent, respectively, in the last six months, the rating agency said in a report. "The earnings of the industry would remain under pressure in FY2024, after a lacklustre performance in the last fiscal. Significant metal price corrections remain the key headwind affecting the margins, with no immediate relief in sight," it said. The moderation in earnings, combined with the committed expansion plans of the players, is expected to increase the industry's leverage in FY2024. However, the debt protection metrics remain adequate in the base case scenario and, therefore, ICRA maintains a stable outlook on the sector. Global ...

Vedanta Limited says not selling copper plant at Thoothukudi, Tamil Nadu

Vedanta Ltd on Thursday said that it has no plans to sell its copper plant at Thoothukudi in Tamil Nadu. Junking the media reports that claimed that the company is selling Sterlite Copper plant, Vedanta said the reports are "wrong, baseless and incorrect". In a regulatory filing, the company said Sterlite Copper is a national asset and claimed it contributed 40 per cent to India's overall copper production. "It has come to our notice that certain sections of the media have carried out the news article that Vedanta Ltd is selling the Sterlite Copper Plant, Thoothukudi. The said media articles are wrong, baseless and incorrect and the same is refuted by the company," it said. As the country has become a net importer of copper, there has been a growing demand to restart its operations, Vedanta Ltd said.

Govt authorises DGFT for TRQ items allocation under new India-Nepal Treaty

The commerce ministry's arm DGFT has been authorised to allocate and monitor imports of 10,000 tonne of copper products and 2,500 tonne of zinc oxide from Nepal under a concessional customs duty provision of a treaty between the countries, according to a public notice. The directorate general of foreign trade (DGFT) will be the designated authority for allocation and monitoring of all TRQ (tariff rate quota) items under the revised India-Nepal Treaty. Under TRQ, a specified quantity of an item is allowed for export or import at concessional customs duties. Beyond that quantity, the product attracts normal duties. "DGFT is authorised for allocation and monitor of 10,000 MT of TRQ of copper products...and 2500 MT of zinc oxide from Nepal," the public notice said on Thursday. It said the allocated quota to each manufacturer/exporter on a quarterly basis would be communicated by the designated authority of Nepal to DGFT. Imports will be permitted through the land customs stations at .

Silicon, gold, copper, electric fields could help fight Covid-19: Study

The spike proteins of the SARS-CoV-2 virus become trapped when they come in contact with silicon, gold and copper, according to a study which also found that electric fields can be used to destroy these proteins, likely killing the virus. The spike protein is used by the SARS-CoV-2 virus to enter and infect the human cells. The study, published in the journal Chemical Science, found that the spike proteins of coronaviruses attached and became stuck to certain types of surfaces. "Coronaviruses have spike proteins on their periphery that allow them to penetrate host cells and cause infection and we have found these proteins becomes stuck to the surface of silicon, gold and copper through a reaction that forms a strong chemical bond," said study lead researcher Nadim Darwish, from Curtin University in Australia. "We believe these materials can be used to capture coronaviruses by being used in air filters, as a coating for benches, tables and walls or in the fabric of wipe cloths and f

Vedanta shelves plan to sell its copper smelter in Tamil Nadu

Restarting the smelter will lead to a surge in India's copper output and cut imports

India identifies copper and lithium mines in Argentina; to acquire soon

In November 2022, the Indian government sent a team of geologists to South America to "assess potential lithium deposits"

Vedanta stock slips over dip in commodity prices despite in-line Q2 show

Soft prices of commodities including metals is weighing on investor sentiment

Survey to explore minerals at 25 potential sites in Chhattisgarh

One site each of potential gold, copper, graphite, bauxite, and moissanite would be taken up for the initial study, the official said.

China's billion-dollar cash-for-copper trade grinds to a halt, stocks dip

Traders from London to Lima would obsess over the flows in and out of Shanghai's huge bonded copper stockpile