Potassium derived from Molasses can be used by farmers: Minister (See 'Corp Brief') Vesting Orders for 7 Coal Mines issued (See 'Corp Brief') CCI okays acquisition of stake in POSCO India by POSCO India Processing Center (See 'Corp Brief') 'Haj Suvidha App' is for convenience of pilgrims: Rijiju (See 'Corp Brief') Arbitration Act - If respondent had waived right to raise objection regarding legal capacity of applicant to move application for appointment of Arbitrator, he cannot be permitted to raise objection at belated stage: HC (See 'Legal Desk') Bharat Tex is perfect example of industry-govt collaboration: Textiles Secretary (See 'Corp Brief') Web-portal enables citizens to participate in Youth Parliament program (See 'Corp Brief') BIS hosts Annual Convention in Healthcare Sector (See 'Corp Brief') SARFAESI - Claims of secured creditor precede claims of Sales Tax/VAT Departments; charge created by Sales Tax Department subsequent to charge created by bank under SARFAESI Act, lacks legal standing: HC (See 'Legal Desk') Unlocking creativity through Trailer Making Competition (See 'Corp Brief') India's First Ferret Research Facility dedicated to Nation (See 'Corp Brief') IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016- There is fiduciary angle to relationship between IP and IBBI: IBBI (See 'Legal Desk') IEPFA signs MoU with Association of Chartered Certified Accountants (See 'Corp Brief') Secretary chairs Stakeholders' Meeting to review preparations of India Steel 2025 (See 'Corp Brief') IBC - Non Fund Based facilities cannot be refused to be disbursed when approved Resolution Plan contains clause for their disbursement: NCLAT (See 'Legal Desk') Govt taking steps for Door-to-Door gas supply through pipeline (See 'Corp Brief') PMLA - Court woud not interfer with order passed as apellant fails to give explanation for embezzlement of funds: TRIBUNAL (See 'Legal Desk') Business trusts to pay tax at maximum marginal rate (See 'Corp Brief') Focus on nuclear energy to strengthen power infra: Manohar Lal (See 'Corp Brief') A&C - Mere existence of arbitration clause in agreement does not bar jurisdiction of civil court automatically: HC (See 'Legal Desk') Budget proposes surcharge levy on firms (See 'Corp Brief') A&C - Award without reasons would suffer from patent illegality as it completely ignores vital provisions of the agreement: HC (See 'Legal Desk') Budget offers incentives for International Finances Services Centre units (See 'Corp Brief') IBC - Copy of Resolution Plans submitted by other Prospective Resolution Applicants cannot be shared in advance with suspended management of corporate debtor, if suspended management is also RP: NCLAT (See 'Legal Desk') 'Bharattradenet' for global trade to be set up for trade financing (See 'Corp Brief') Arbitration Act - Court to appoint independent sole arbitrator as appointment procedure choosed by parties is no longer valid: HC (See 'Legal Desk')

Copper Quality Control Order: A step towards Atma Nirbharta

Published: Dec 07, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 07, 2024: TO strengthen the quality control eco-system for non-ferrous metals sector (including Copper) in the country, the Ministry of Mines notified the Copper (Quality Control) Order on 31 st August, 2023, along with Quality Control Orders (QCOs) for Aluminium and Aluminium Alloys and Nickel. Initially the QCOs including Copper QCO were to come into force after three months from the date of its notification i.e. 30.11.2023.

Thereafter, basis the requests received from industry stakeholders including user sector industry and taking into account the supply situation, this order was extended vide notification dated 3 rd November, 2023 by six months (i.e.1.6.2024) and subsequently, by another six months vide notification dated 3 rd May, 2024 i.e. 1.12.2024. The Ministry has held several interactions with concerned stakeholders on regular basis through series of meeting(s) with industry bodies and user sector industries during the month of October, 2023; January, 2024; May, 2024; September, 2024; and October, 2024. Secretary (Mines) held a meeting with DG BIS on 17.1.2024 in which besides BIS & Ministry officials, industry representatives also attended. Thus, a sufficient period of 15 months, from 31 st August, 2023, onwards was allowed to the domestic and foreign suppliers of Copper cathodes to obtain the Bureau of Indian Standards (BIS) certification.

In FY 2023-24, India imported about 363 Thousand Tonnes (THT) of refined copper cathode (HS Code: 740311), valued at Rs. 24,552 crore. Japan accounts for about 2/3 rd (67%) of the refined copper imports. In quantity terms, about 69% of India's refined copper imports come from Japan. Tanzania is India's second important source of refined copper, contributing about 18% of the imports; followed by Mozambique with a share of about 5%.

M/s Adani's Kutch Copper Refinery has since come into production. However, as per company officials, ramp-up to full capacity will require some more time (about Feb-March 2025). Once achieved, India will be self-sufficient in refined copper, and will not have to rely on imports. Till that time, some amount of import of refined copper will take place.

As of now, 7 applications from Japanese smelters have been received for BIS certification, of which one smelter (Sumitomo Metal Mining Co. Ltd.) has already been granted license. As per information received from BIS, two more licenses will be granted by next week.

Presently, four domestic suppliers namely, Adani's Kutch Copper Ltd, Hindalco Industries Ltd, Gujarat Victory Forgings Pvt Ltd & Vedanta Ltd and four foreign suppliers, one each from Japan and Austria, and two from Malaysia have been certified by BIS to supply copper cathode to Indian market. Thus, with 4 domestic BIS certified suppliers & 4 foreign BIS certified suppliers and another two certifications by mid of Dec, 2024, no serious supply side constraint is envisaged.

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