Minister chairs Regional Conference of Labour & Industry Secretaries of States (See 'Corp Brief') Joshi concludes Abu Dhabi Visit with focus on Clean Energy Investment (See 'Corp Brief') PMLA - Precondition for being proceeds of crime is that property has been derived or obtained, directly or indirectly, by any person as result of criminal activity relating to scheduled offence: SAFEMA (See 'Legal Desk') India among top 3 startup nations with substantial number of women-led ventures: MoS (See 'Corp Brief') PMLA - Company cannot escape from liability on account of its ex-directors: SAFEMA (See 'Legal Desk') DFS Secy reviews performance of Public Sector Insurance Companies (See 'Corp Brief') Patent Agent Examination 2026 held with 5,500 Candidates (See 'Corp Brief') CCI permits Chrys Capital to pick up equity in Nash Industries (See 'Corp Brief') Arbitration and Conciliation Act - as per Sections 38 & 39 of CPC, a decree can be executed by court with competent jurisdiction, including court where respondent's assets are located: HC (See 'Legal Desk') PFRDA undertakes NPS Outreach for MSMEs at Vibrant Gujarat (See 'Corp Brief') TRAI assesses Network Quality Across Nasik and Surrounding Area (See 'Corp Brief') YUVA AI: A step towards democratising access to AI Knowledge (See 'Corp Brief') SEBI - Direct acquisition of shares in Vodafone Idea by Government, arising from conversion of interest on deferred spectrum auction and AGR dues into equity, should be exempted from mandatory open offer requirements: SEBI (See 'Legal Desk') 'Jo Vaada Kiya, Wo Nibhana Padega' - Promissory Estoppel Reaffirmed: Supreme Court Reiterates the Rules of State Accountability (See CORP EINSICHT) Strategic Alliance between ICAR and NDDB to strengthen Innovation (See 'Corp Brief') BHASHINI Samudaye: Strengthening India's Language AI Ecosystem (See 'Corp Brief') Industrial Units are entitled to disbursal of capital investment subsidy & DG Set subsidy, and State Functionary is precluded from refusing to disburse same: SC (See 'Legal Desk') Minister reviews steps to romote manufacturing of Rare Earth Permanent Magnets (See 'Corp Brief') IIT Delhi hosts Seminar on advancing Quality Assessment of Medicinal Plants (See 'Corp Brief') IPR - Importance of doctrine of 'initial interest confusion' in pharmaceutical trade, affirming that even fleeting moment of confusion at initial stage is sufficient for infringement: HC (See 'Legal Desk') Pradhan interacts with PM-YUVA 3.0 authors at World Book Fair 2026 (See 'Corp Brief') Chouhan addresses Young Leaders at Viksit Bharat Dialogue 2026 (See 'Corp Brief') IBC/RTI - RTI application rightly rejected where Applicant was unable to demonstrate any significant public interest justifying the disclosure of information: IBBI (See 'Legal Desk') Health Pavilion emerges as major attraction at Vibrant Gujarat (See 'Corp Brief') MoS hosts informal interaction with J&K and Ladakh participants (See 'Corp Brief') Companies Law - Sec 433 of Companies Act, 2013 , which empowers NCLT/NCLAT to apply Limitation Act, 1963, cannot be given retrospective effect to empower CLB: SC (See 'Legal Desk') Pradhan inaugurates New Delhi World Book Fair 2026 (See 'Corp Brief') Department of Fisheries' push for Capacity building in Fisheries and Aquaculture Sector (See 'Corp Brief') PMLA - If accused is not in possession of sufficient assets to satisfy interest of all depositors/investors/victims, then only available option with PMLA Court is to proportionately divide available assets amongst creditors/depositors/investors: SAFEMA (See 'Legal Desk') Arbitration and Conciliation Act, 1996 - provisions of Section 8 of Commercial Courts Act, 2015, bar filing of a revision petition against interlocutory order of Commercial Court, except in exceptional circumstances: HC (See 'Legal Desk') IBC - Deed of undertaking is not guarantee, and resolution plan does not extinguish rights against third-party security providers unless debt is fully satisfied: SC (See 'Legal Desk') PMLA - Continued incarceration of under-trial, without commencement or reasonable progress of trial, results in pre-trial detention being converted into punishment, which is impermissible in law: SC (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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