New Delhi: Metal major Vedanta Resources' chief Anil Agarwal on Monday pitched for indigenous production of copper to compensate for the Rs 40,000 crore import bill.
"Rs 40,000 crore worth copper being imported, which can be produced in India by auctioning mines at Malanchkhand (Madhya Pradesh) and Ghatshila (Jharkhand)," Agarwal tweeted.
Three major players dominate the Indian copper industry. Hindustan Copper (HCL) in the public sector, Hindalco and Sterlite Industries in the private sector.
The copper ore production in India during 2012-13 was 3.65 million tones (MT) as compared to 3.48 MT in 2011-12. The refined copper production in 2012-13 was 6.93 lakh tones, as compared to 6.84 lakh tones in 2011-12, according to HCL.
The consumption of refined copper in the year 2012-13 was estimated at around 6 lakh tonnes, which as percentage of world copper market is only three percent.
HCL is the only vertically integrated copper producer in the country, while Hindalco at Dahej in Gujarat and Sterlite Industries in Tuticorn in Tamil Nadu have set up port based smelting and refining plants.
HCL has four operating Units at Khetri (Rajasthan), Malanjkhand (Madhya Pradesh), Ghatsila (Jharkhand) and Taloja (Maharashtra).
First Published: Monday, October 28, 2013, 23:27