Copper smelter Sterlite re-opens after protests: sources

NEW DELHI Sun Jun 16, 2013 10:24pm IST

A general view shows Sterlite Industries Ltd's copper plant in Tuticorin, in Tamil Nadu April 5, 2013. REUTERS/Stringer/Files

A general view shows Sterlite Industries Ltd's copper plant in Tuticorin, in Tamil Nadu April 5, 2013.

Credit: Reuters/Stringer/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - India's top copper smelter re-opened on Sunday after complaints from residents forced a two-month shutdown, a company source directly involved with the court-mandated process and a source at a local pollution board told Reuters.

Locals in the Tuticorin area of Tamil Nadu had complained that emissions from the plant, run by Sterlite Industries STRL.NS, a unit of London-based Vedanta Resources (VED.L), were causing breathing problems.

"We have restarted the plant in the presence of the court-appointed panel," the company source told Reuters. "It should ramp up to full capacity in about five days."

The ensuing shutdown had squeezed domestic copper supplies and boosted imports and prices and the reopening will come as a relief to cable makers such as Finolex Cables Ltd (FNXC.NS) and Precision Wires India Ltd (PRWR.NS).

But it will further deplete already tight global stocks of copper concentrate, which is produced by mines and sold to smelters and refiners who treat the ore and refine the copper.

Authorities shut the plant on March 30, but a Supreme Court decision on June 10 said the plant could re-open. The smelter re-opened under the supervision of a court-appointed safety panel, which visited the site on Sunday.

Sterlite denies that the emissions from the plant are dangerously high. The smelter produces 30,000 tonnes of refined copper per month, or more than half of India's total production.

(Writing by Matthias Williams; editing by Jason Neely)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage