Vedanta intends to sell Sterlite copper concentrate stock-Shanghai Metals Market

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Vedanta intends to sell Sterlite copper concentrate stock

Translation 10:26:42AM Feb 27, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM, Feb. 27-the Thoothukudi plant in: Vedanta (Vedanta) was ordered to close by the Tamil Nadan government because of so-called pollution protests.

Company and government sources said last week that Vedanta was selling copper concentrate stocks at the Sterlite smelter in Tamil Nadu, hoping to cut costs at plants that closed permanently last May.

The Thoothukudi factory was ordered to close by the state government after protests against suspected pollution eventually killed 13 demonstrators.

The general election will be held in May, and the two main political parties in Tamil Nadu oppose the reopening of the smelter, increasing the possibility of a shutdown.

"Vedanta has disposed of 55000 tons of copper concentrate and about 35000 tons will be disposed of soon," a government official said. "

According to sources, Vedanta delivered two shipments of copper concentrate to Chinese buyers, one of which was 25000 tons at the end of December and the other 30000 tons at the end of January.

According to three Indian government sources, Vedanta plans to soon sell the remaining 35000 tons of copper concentrate from the smelter, which produces 400000 tons a year, one of the largest smelters in Asia after China.

"We liquidate concentrate stocks in accordance with our commercial agreement and in accordance with the direction of regional management," Vedanta said in a statement, without providing further details.

Vedanta intends to sell Sterlite copper concentrate stock

Translation 10:26:42AM Feb 27, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM, Feb. 27-the Thoothukudi plant in: Vedanta (Vedanta) was ordered to close by the Tamil Nadan government because of so-called pollution protests.

Company and government sources said last week that Vedanta was selling copper concentrate stocks at the Sterlite smelter in Tamil Nadu, hoping to cut costs at plants that closed permanently last May.

The Thoothukudi factory was ordered to close by the state government after protests against suspected pollution eventually killed 13 demonstrators.

The general election will be held in May, and the two main political parties in Tamil Nadu oppose the reopening of the smelter, increasing the possibility of a shutdown.

"Vedanta has disposed of 55000 tons of copper concentrate and about 35000 tons will be disposed of soon," a government official said. "

According to sources, Vedanta delivered two shipments of copper concentrate to Chinese buyers, one of which was 25000 tons at the end of December and the other 30000 tons at the end of January.

According to three Indian government sources, Vedanta plans to soon sell the remaining 35000 tons of copper concentrate from the smelter, which produces 400000 tons a year, one of the largest smelters in Asia after China.

"We liquidate concentrate stocks in accordance with our commercial agreement and in accordance with the direction of regional management," Vedanta said in a statement, without providing further details.