Sterlite's copper smelter to be shut until atleast May 14
India's top copper smelter will stay shut until at least May 14 when an environmental court meets again to review the case, a judge said on Wednesday, prolonging a six-week shutdown that has pushed up copper concentrate processing fees in Asia.
India's top copper smelter will stay shut until at least May 14 when an environmental court meets again to review the case, a judge said on Wednesday, prolonging a six-week shutdown that has pushed up copper concentrate processing fees in Asia.
The Sterlite Industries plant, which meets half of India's copper demand, was closed on March 30 after residents complained of emissions that led to breathing problems.Justice Swatenter Kumar of the National Green Tribunal, a special fast-track environmental court, said an expert panel's report had to be given to all parties and set the next hearing for May 14.The smelter's closure has pushed about 3,000 tonne per day of copper concentrates onto the market. The plant produces 30,000 tonne of refined copper a month and nearly half of the output goes to China. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
