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Vedanta Update on Copper Business in India

Metal News - Published on Mon, 12 Oct 2020

Image Source: Vedanta Copper Tuticorin
Smelting operations at Tuticorin have been halted since April 2018. The Tamil Nadu Pollution Control Board through an order dated 9th April 2018 rejected the Consent to Operate of the Tuticorin Plant and issued a direction for closure and disconnection of power supply at the plant. In May 2018, The Government of Tamil Nadu has issued orders with a direction to permanently seal the existing copper smelter plant at Tuticorin. In response to Vedanta Limited’s appeal to the National Green Tribunal against the afore mentioned orders, in December 2018, NGT set aside Tamil Nadu Government’s order and directed TNPCB to renew the CTO subject to complying of certain directions as specified in the order.

However, in February 2019, The Hon’ble Supreme Court set aside NGT’s order on the grounds of maintainability and has given liberty to approach Madras High Court for filing a writ petition before the Madras High Court challenging the impugned orders and seek interim relief considering that Vedanta Limited’s plant has been shut since end March 2018. The Company has filed a writ petition before Madras High Court challenging the various orders passed against the company in 2018 and 2013 and the matter is pending adjudication. The hearing was concluded on January 8, 2020. The final judgement of the Madras High Court is awaited.

Our Silvassa refinery and wire rod plant continue to operate. This enables us to cater to the domestic market. Production from the Silvassa refinery was 4% higher in Q1FY21 as compared to Q1FY20 due to partially improved availability of customised anode & secondary material. However the production was lower by 35% compared with Q4FY20 largely due to prolonged lockdown across the country consequent to pandemic COVID-19.

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Posted By : Yogender Pancholi on Mon, 12 Oct 2020
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