India's top copper smelter re-opens after protests -sources

NEW DELHI, June 16 Sun Jun 16, 2013 10:00pm IST

Stocks

   

NEW DELHI, June 16 (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 the southern state of Tamil Nadu had complained that emissions from the plant, run by Sterlite Industries, a unit of London-based Vedanta Resources, 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 and Precision Wires India Ltd.

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)

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

  • Most Popular
  • Most Shared

Trade Deal

REUTERS SHOWCASE

Record High

Record High

Nifty hits record high on foreign buying, higher Asian stocks.  Full Article 

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Facebook Results

Facebook Results

Second quarter revenue increases 61 percent  Full Article 

BRICS Bank

BRICS Bank

World Bank chief welcomes new BRICS development bank.  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Reuters India Mobile

Reuters India Mobile

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