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Vedanta Thootukudi copper smelter to remain shut until at least June 6-2018 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
5/21/2018 有色金属展-Copper exhibition -non-ferrous metals expo |
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Reuters quoted a lawyer petitioning against the plant reopening as saying that Vedanta Resources Plc’s Thootukudi copper smelter, one of India’s biggest, will remain shut until at least June 6. The Tamil Nadu Pollution Control Board has adjourned a hearing to grant Vedanta a renewal of consent to operate the smelter until that date, said Mr V Ramasubbu, a local lawyer who filed the petition because of environmental concerns.
ING analyst Oliver Nugent said that “The market was surprised by the move."
The smelter, which can produce 400,000 tonnes of copper cathode a year, is run by Vedanta’s Sterlite Copper unit, which is controlled by Vedanta Ltd, a majority-owned subsidiary of London-listed Vedanta. The plant has been shut since March 27, when it was closed as part of a 15-day scheduled maintenance.
During the closure, the pollution board rejected Vedanta’s license to operate the smelter in April, saying the company had not complied with five local environmental laws.
The people of Thootukudi, a port city in the southern state of Tamil Nadu, have been protesting against a proposed expansion of the smelter and are demanding the closure of the plant.
Vedanta said that the protests are based on “false allegations” and the company has been providing “regular information through various media on the truth”.
The company plans to double capacity at the smelter to 800,000 tonnes per year.
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