Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

On Tuesday, <keyword id="19907441" type="General" weightage="20" keywordseo="Aditya-Birla-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Aditya Birla Group" meta.hostid="261" meta.entityid="Aditya Birla Group">Aditya Birla Group</keyword>'s <keyword id="20102108" type="General" weightage="20" keywordseo="metal" source="keywords">metal</keyword> flagship <keyword id="20318152" type="General" weightage="100" keywordseo="Hindalco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindalco Industries" meta.hostid="261" meta.entityid="Hindalco Industries">Hindalco Industries</keyword> reported a 25.2% rise in consolidated profit at Rs 3,074 crore for the June quarter, on the back of favourable macros, operational efficiencies and lower input costs. The company had posted a consolidated profit of Rs 2,454 crore in the year-ago period, <keyword id="20129733" type="General" weightage="20" keywordseo="hindalco" source="keywords">Hindalco</keyword> Industries said in a regulatory filing. In a statement, the company said the consolidated PAT in the first quarter of FY'25 was Rs 3,074 crore, compared to Rs 2,454 crore in Q1 FY24, up by 25 % year-on-year (YoY)." Total income during the quarter under review rose to Rs 57,437 crore, over Rs 53,382 crore noted in the year-ago period. The consolidated revenue for the first quarter stood at Rs 57,013 crore, up 8% YoY, on account of better realisations and efficiencies in India operations. "Hindalco reported an <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> of Rs 7,992 crore (vs Rs 6,109 crore in Q1FY24) in Q1 FY25, up 31% YoY, driven by lower input costs and higher volumes," the statement said. "Our strong Q1 results ride on the back of consistent operational excellence and cost optimisation which allowed us to leverage the higher average metal prices. "The <keyword id="20076812" type="General" weightage="20" keywordseo="copper" source="keywords">copper</keyword> business achieved its highest quarterly EBITDA driven by high domestic sales (especially downstream products), healthy by-product credits and better operational efficiencies following a successful planned shutdown," Satish Pai, Managing Director, Hindalco Industries said. The <keyword id="20472150" type="General" weightage="20" keywordseo="aluminium" source="keywords">Aluminium</keyword> India upstream business recorded an 81% growth in EBITDA over the previous year, he said. "Looking ahead, the major capital formation phase of the downstream business is near completion, and from here on, we will explore growth opportunities in the upstream business, given our strong cash position," he explained. The company said its copper business delivered a new record-breaking performance in the first quarter, with EBITDA at an all-time high of Rs 805 crore, up 52% YoY, backed by higher average copper prices and robust operations. Hindalco Industries Ltd is the metal flagship company of the Aditya Birla Group. A 26 billion dollar metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and the world's second largest Copper rods manufacturer (outside China). Hindalco operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils. Along with its subsidiary <keyword id="20665479" type="General" weightage="20" keywordseo="novelis" source="keywords">Novelis</keyword>, Hindalco is the global leader in flat-rolled products, and the world's largest recycler of aluminium. Hindalco is the country's largest copper producer, serving more than half the nation's copper requirements. Its copper facility in Gujarat, comprises a copper smelter and refinery complex, downstream facilities, and a captive jetty. Hindalco's global footprint spans 52 manufacturing units across 10 countries.

Hindalco Q1 profit rises 25% Rs 3,074 crore on operational efficiencies, lower input costs

<keyword id="28423" type="General" weightage="80" keywordseo="vedanta" source="Orion">Vedanta</keyword> Ltd has decided to put its 4,00,000 ton per annum (tpa) <keyword id="437023" type="General" weightage="100" keywordseo="copper-smelter" source="Orion">copper smelter</keyword> plant and refining complex at <keyword id="6354388" type="General" weightage="80" keywordseo="tuticorin" source="Orion">Tuticorin</keyword> for sale. The copper smelter plant complex is known as <keyword id="1622540" type="General" weightage="50" keywordseo="sterlite-copper" source="Orion">Sterlite Copper</keyword>. The company along with Axis Capital has called for Expression of Interest (EoI) for its smelter complex (primary and secondary), sulphuric acid plant, copper refinery, continuous copper rod plant, phosphoric acid plant, effluent treatment plant, 160 MW captive power plant, reverse osmosis units, oxygen generation unit and residential complex with amenities. However, an environmental activist, who is against the Copper Smelter plant, wondered whether the company can sell the plant when a case is pending in the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword>. The decision came as a surprise to many as the company was saying that it would reopen the plant. According to Vedanta, the plant produces about 40 per cent of the country's demand for copper and contributes about Rs 2,500 crore per annum to the exchequer and 12 per cent of Tuticorin Port's revenue. Curiously last March, Vedanta came out with an EoI about its decision to set up a 500,000 tpa copper smelter plant in a coastal region in India. The company has sought expression of interest from coastal states wishing to partner in the project that would have an investment potential of about Rs 10,000 crore through a newspaper advertisement. According to Vedanta, the proposed project would need about 1,000 acre in proximity to port along with logistics connectivity with conveyor/corridor of rail and road to handle five million tpa material movement on both in-bound and out-bound sides. The company said the project has a potential to provide direct and indirect employment to 10,000 people and will contribute about Rs 3,000 crore to the government treasury as taxes and others. Senior officials were not available to reply IANS query whether the company is exiting Tuticorin. Later in a statement, the company said India's copper requirements are set to grow exponentially in the coming years. Having ample supplies of copper is critical to ensuring successful implementation of new-gen technologies such as electric vehicles, rapid automated transport and clean energy, the company said. "We are, therefore, actively on the lookout for a suitable partner state to help take forward the vision of an Atmanirbhar Bharat and ensure that our nation enjoys unfettered access to copper, through a state-of-the-art copper manufacturing plant, the operational and environmental parameters of which are comparable to the best in the world," Vedanta said. According to Vedanta, the closure of Tuticorin copper smelter plant has had a ripple effect in terms of imports and livelihoods. "Post closure, India has become a net importer of copper for the first time in 18 years, with copper imports growing 3X while exports have plunged by 90 per cent. We are continuing to explore all legal avenues towards achieving a sustainable solution to the closure," the company had said. The <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> government had ordered the copper smelter plant to be shut down in 2018 following a violent protest that led to the death of 13 persons in police firing. The 4,00,000 ton Sterlite Copper smelter plant that has been operating in Tuticorin for over 25 years with a cumulative investment of about Rs 3,000 crore. However, from the start, Sterlite Copper smelter plant has been facing protests by the local people alleging that it pollutes the environment. Originally, the plant was planned in Goa, but it faced severe opposition from the state's people. However, the AIADMK regime under J. Jayalalithaa gave a warm welcome to the project and allotted land at Tuticorin. Ever since then the plant was in the eye of a storm with MDMK leader Vaiko leading a protest against the project and later filing a case. The major political parties in Tamil Nadu -- AIADMK and DMK -- are against Vedanta's copper smelter plant in Tuticorin. The Supreme Court is hearing the case on an appeal filed by the company against the Madras High Court's refusal to reopen the Sterlite Copper smelter plant in Tuticorin. Reacting to the latest advertisement Fatima Babu, one of the persons who had filed a case against Sterlite Copper told IANS: "It has to be seen whether the company can sell the plant when a case is pending in the Supreme Court. There seems to be a hidden agenda in the advertisement as it makes several claims like state-of-the-art plant and others." "Our stand is clear. The copper smelter plant should not be in Tuticorin whether under the name Sterlite Copper owned by Vedanta or by any other owner," she said. She added that if Vedanta wants to set up a new copper smelter then it can do so by complying with the law anywhere else. ALSO SEE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/i-read-an-ex-apollo-partners-tell-all-book-about-the-inner-workings-of-private-equity-and-was-perplexed-and-ultimately-disappointed/articleshow/92321043.cms">I read an ex-Apollo partner's tell-all book about the inner workings of private equity and was perplexed — and ultimately disappointed</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/wall-street-coinbase-flew-too-close-to-the-sun/articleshow/92283604.cms">Wall Street: Coinbase flew too close to the sun</a>

Vedanta puts its copper smelter plant in Tuticorin on sale

<ul><li>The SC has ordered that the plant owned by Vedanta Private Limited will remain shut. </li><li>In December 2018, National Green Tribunal had said it could be reopened. </li><li>The court has also directed the CBI to conduct an investigation regarding the police firing which killed 13 protestors.</li></ul>The Supreme Court has ordered that the controversial <keyword id="6362295" type="UNKNOWN" weightage="20" keywordseo="sterlite-copper-plant">Sterlite Copper plant</keyword> owned by Vedanta Private Limited in Tamil Nadu will remain <a href="https://timesofindia.indiatimes.com/business/india-business/supreme-court-refuses-to-allow-reopening-of-sterlite-plant/articleshow/68043399.cms">shut</a>, overturning an earlier order with the country’s main environmental court. In December, India’s National Green Tribunal had allowed the reopening the plant, directing the Tamil Nadu Pollution Control Board to make it operational within <a href="https://scroll.in/latest/913653/top-news-icj-set-to-begin-hearings-in-kulbhushan-jadhav-case">three weeks</a>. In its judgment, Supreme Court said it Vedanta can now appeal the decision in the Madras High Court, saying that NGT does not have the jurisdiction to pass the order for its reopening. The Sterlite Copper plant came under the scanner last year, after violent protests broke out in Tamil Nadu’s Tuticorin against the plant’s reported adverse impact on pollution. The TNPCB had then ordered for the plant to be shut permanently, citing a provision of the <a href="https://indianexpress.com/article/india/sterlite-plant-tuticorin-vedanta-supreme-court-tamil-nadu-5588840/">Water Act, 1974</a>. In May 2018, in a police firing, 13 people were killed and now, the Supreme Court has ordered the CBI to conduct a fair and impartial investigation regarding the firing, according to ANI. In December last year, the parent group Vedanta had appealed to the Supreme Court that the Tamil Nadu government was giving a <a href="https://www.thenewsminute.com/article/tamil-nadu-has-given-us-bad-name-over-sterlite-vedanta-tells-supreme-court-96027">bad name</a> to the company over the <keyword id="7127357" type="UNKNOWN" weightage="20" keywordseo="sterlite-controversy">Sterlite controversy</keyword>, asking for electricity to the plant to be restored. See Also: <a href="https://www.businessinsider.in/india-deports-american-journalist-who-was-making-an-environmental-documentary-on-a-controversial-copper-smelter-plant/articleshow/67362130.cms">India deports American journalist who was making an environmental documentary on a controversial copper smelter plant</a> <a href="https://www.businessinsider.in/after-buying-out-the-bankrupt-electrosteel-vedanta-is-spending-billions-on-a-new-steel-plant-in-the-indian-state-of-jharkhand/articleshow/67255994.cms">After buying out the bankrupt Electrosteel, Vedanta is spending billions on a new steel plant in the Indian state of Jharkhand</a>

India’s Supreme Court orders controversial copper smelter plant Sterlite to remain shut

<ul><li>The Indian government has deported an American journalist, <keyword id="7176568" type="UNKNOWN" weightage="20" keywordseo="mark-scialla">Mark Scialla</keyword>, who was reportedly working on a documentary about a controversial Sterlite copper smelter plant in Tamil Nadu's Tuticorin, citing violation of <keyword id="6359421" type="UNKNOWN" weightage="20" keywordseo="visa">visa</keyword> norms under The Foreigners Act.</li><li>According to media reports, Scialla had flown back to the US on Wednesday following a ‘Leave India Notice’ issued by the local police. </li><li>The Indian authorities in the process of blacklisting the journalist for violating visa conditions. </li></ul>The Indian government on Wednesday deported an American journalist, Mark Scialla, who had been reportedly <a href="https://www.ndtv.com/tamil-nadu-news/us-journalist-working-on-sterlite-documentary-asked-to-leave-india-1971737">working on a documentary</a> studying the health effects of the controversial Sterlite copper smelter plant in Tamil Nadu's Tuticorin. The government cited violation of visa norms. Specifically, it cited rules under its ‘Foreigners Act,’ which allows the Indian government certain powers in matters concerning foreigners in India. The freelance journalist, had allegedly flown to India in the last week of December on a tourist visa, which stated that the American national should not engage in work. According to media reports, Scialla had flown back to the US on Wednesday following a ‘Leave India Notice’ issued by local authorities, and was allowed 48 hours to leave. He was also reportedly interrogated about whom he had filmed and interviewed. Additionally, according to media reports, the police also investigated other activists. Taking matters further, the government is in the process of to<a href="https://www.thequint.com/news/india/us-journalist-working-on-sterlite-sent-back"> blacklist the journalist</a> for violating visa conditions. A representative from an US consulate, on being asked about the matter, <a href="https://www.dnaindia.com/india/report-us-scribe-working-on-sterlite-issue-flies-back-home-to-be-blacklisted-official-2703666">reportedly said</a> that they are aware of media reports but denied sharing any information on US citizens claiming ‘privacy laws.’ What is the sterlite issue? The issue concerns Vedanta Ltd's Sterlite copper plant at Tuticorin, Tamil Nadu, that faced violent protests due to the <a href="https://www.ndtv.com/tamil-nadu-news/us-journalist-working-on-sterlite-documentary-asked-to-leave-india-1971737">rising concerns</a> of adverse environmental and health impacts of sterlite plant, the Tamil Nadu government had ordered the state control board to permanently shut the plant. But recently, the National Green Tribunal (NGT) green light to reopen the plant conditioning the government to spend ₹1 billion on community development. However, the local state government has now filed in Supreme Court a case challenging NGT’s permit. See also: <a href="https://www.businessinsider.in/eliminating-country-quotas-will-make-path-to-the-permanent-residency-easier-for-indians-us-congressional-report/articleshow/67361429.cms">Eliminating country quotas will make path to the permanent residency easier for Indians: US congressional report</a> <a href="https://www.businessinsider.in/russia-arrested-a-us-citizen-on-spying-charges-but-the-government-shutdown-makes-it-hard-to-get-answers-on-how-the-trump-administration-will-respond/articleshow/67330695.cms">Russia arrested a US citizen on spying charges, but the government shutdown makes it hard to get answers on how the Trump administration will respond</a> <a href="https://www.businessinsider.in/myanmar-introduces-visa-on-arrival-for-indian-travellers/articleshow/67056366.cms">Myanmar introduces ‘visa-on-arrival’ for Indian travellers</a>

India deports American journalist who was making an environmental documentary on a controversial copper smelter plant

New Delhi, Feb 7 () The domestic production and exports of refined copper have declined since May 2018 due to the closure of copper smelter plant of Vedanta Ltd at Tuticorin in Tamil Nadu, Parliament was informed on Friday. Commerce and Industry Minister Piyush Goyal said that during April-November 2019, imports and exports of refined copper stood at 1,09,324 tonne (USD 684.02 million) and 18,300 tonnes (USD 106.35 million), respectively. "The domestic production and exports of refined copper have declined largely due to the closure, since May 2018, of the copper smelter plant of Vedanta Ltd at Tuticorin, Tamil Nadu, which has an annual production capacity of 4 lakh tonnes per annum," Goyal said in a written reply to the Rajya Sabha. He said Vedanta Ltd has filed a writ petition in February 2019 before the Madras High Court challenging the orders of the state government of Tamil Nadu and the Tamil Nadu Pollution Control Board, and the matter is sub-judice. In a separate reply, he said the Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 27,916 start-ups, as on February 1 this year. "800 start-ups have been recognised in Rajasthan by the DPIIT as on February 1," he added. RR HRS

Production, exports of refined copper dip due to closure of Vedanta's plant in Tamil Nadu

New Delhi, Feb 7 () India's refined copper imports more than doubled to 92,290 tonne in 2018-19 and its estimated cost was USD 605.20 million, Parliament was informed on Friday. The country had imported 44,245 tonne refined copper worth USD 294.95 million in 2017-18, Minister of Commerce and Industry Piyush Goyal said in a written reply to the Rajya Sabha. "The exports of refined copper have declined from 3,78,555 tonne (worth USD 2,435.57 million) in 2017-18 to 47,917 tonne worth USD 302.27 million in 2018-19. "During April-November of 2019, the imports and exports of refined copper stood at 109,324 tonne (USD 684.02 million) and 18,300 tonne (USD 106.35 million) respectively," the minister said. In India, major companies engaged in production of refined copper are Hindustan Copper Ltd, Hindalco and Vedanta Ltd, he said. "The production and exports of refined copper have declined largely due to the closure (since May 2018) of copper smelter plant of Vedanta Ltd at Tuticorin in Tamil Nadu which has annual production capacity of 4 lakh tonne per annum," Goyal added. ABI MR

Refined copper imports jump 2-folds to over 92,000 tn in FY19

<ul class="summary-list"><li>Copper demand in China is lagging at a time when consumption is usually elevated, Bloomberg wrote.</li><li>Profitability among copper smelters has dropped by the lowest in over a decade.</li></ul>China's demand for <a href="https://markets.businessinsider.com/commodities/copper-price">copper</a> is lagging at a time usually defined by higher demand, <a href="https://www.bloomberg.com/news/articles/2023-09-18/china-s-copper-industry-is-struggling-when-it-should-be-booming" target="_blank" rel="noopener">Bloomberg</a> reported.Though the autumn season usually keeps metal manufacturers busy, disappointing demand may break the trend. It's bad news for China's metal processors — their profits have already plunged 36.7% in the first seven months of the year, the biggest drop in over a decade. Low consumption also signals more pessimism for China's economy. That's as the metal is often held up as a reliable bellwether of economic strength, owing to its broad use across a number of sectors.Though construction normally accounts for a quarter of demand, an <a href="https://www.businessinsider.com/china-property-real-estate-debt-troubles-financial-crisis-nicholas-lardy-2023-8">oversupply</a> of real estate has been a drag on the sector. Declining consumer activity has also become a headwind for copper, as consumer goods account for 16% of total demand. China has introduced some measures to overcome these challenges, discarding restrictions on home purchases and lowering interest rates to encourage spending. The summer has seen <a href="https://www.businessinsider.com/china-economy-collapse-markets-positive-indicators-beige-book-property-market-2023-8">a slight rebound in consumer</a> activity, though this may not be long-lasting.Though calls for Chinese authorities to implement a more expansive stimulus approach could boost demand, the strategy is unlikely to be implemented. However, Beijing's effort to greenify its economy has been a boost to copper demand, Bloomberg reported. For instance, demand for refined copper climbed 6.3% in the year's first half, given clean energy investments.But this too, may be short-lived, as solar expansion cools and households continue to prioritize savings. Even where there is demand for copper, base smelters and processors have reported lowering prices to maintain customers.In recent weeks, leading economists have voiced concern that China's blowout growth of <a href="https://www.businessinsider.com/china-economy-outlook-worlds-biggest-stimulus-recovery-mohamed-el-erian-2023-9">prior years is unlikely to be repeated anytime soon</a>. <a href="https://www.bloomberg.com/news/articles/2023-09-05/china-slowdown-means-it-may-never-overtake-us-economy-be-says">Bloomberg economists</a> now expect China's GDP growth to slow to about 1% by 2050, compared to previous estimates of 1.6%.

A key barometer of economic health is flashing more warning signs for China's economy

The Rupee inched lower by 6 paise to 78.04 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and strong dollar demand globally weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 78 against the American dollar, then lost further ground to quote at 78.04, registering a fall of 6 paise over the last close. On Monday, the rupee appreciated 7 paise to settle at 77.98. "Continuing <keyword id="46756" type="General" weightage="100" keywordseo="fii" source="Orion">FII</keyword>'s outflow and strong dollar demand globally is putting up pressure on Indian Rupee to depreciate further with oil buying for payments," said <keyword id="2000141" type="General" weightage="50" keywordseo="anil-kumar-bhansali" source="Orion">Anil Kumar Bhansali</keyword>, Head of <keyword id="6374832" type="General" weightage="50" keywordseo="treasury" source="Orion">Treasury</keyword>, <keyword id="12041513" type="General" weightage="50" keywordseo="finrex-treasury-advisors" source="Orion">Finrex Treasury Advisors</keyword>. Global oil benchmark Brent crude futures fell 0.91 per cent to USD 115.17 per barrel. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.36 per cent lower at 104.32. On the domestic equity market front, the 30-share <keyword id="6484188" type="General" weightage="50" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 354.27 points or 0.69 per cent higher at 51,952.11, while the broader NSE Nifty advanced 113.80 points or 0.74 per cent to 15,463.95. Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 1,217.12 crore, as per stock exchange data. PTI DRR DRR BAL BAL ALSO SEE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/vedanta-puts-its-copper-smelter-plant-in-tuticorin-on-sale/articleshow/92334339.cms">Vedanta puts its copper smelter plant in Tuticorin on sale</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/inside-the-chaos-at-new-york-citys-eleven-madison-park/articleshow/92319436.cms">Inside the 'chaos' at New York City's Eleven Madison Park</a>

Rupee falls by 6 paise on strong dollar demand and persistent FII outflows

<ul class="summary-list"><li>Major car makers are at high risk for exposure to forced Uyghur labor, according to new research.</li><li>Sheffield Hallam University reports Uyghur workers extract and process steel and aluminum.</li></ul>Many of the world's largest car manufacturers may be linked to the forced labor of Uyghurs, a Muslim minority group based in Xinjiang, China, <a href="https://acrobat.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Ac48ed136-95e1-4585-8495-26fd8be59467">according to new research from Sheffield Hallam University</a>. Tesla, Volkswagen, General Motors, Mercedes-Benz, Toyota, and Stellantis — which includes brands like Fiat, Chrysler, Dodge, and Jeep — were found to be at high risk for exposure to steel and aluminum processing factories that employ forced Uyghur labor, the researchers say.After reviewing a trove of corporate and news reports, state media, and other publically available documents, the researchers said they found that at least thousands of Uyghurs have been forced to work in metal-processing factories in accordance to China's <a href="https://www.cfr.org/backgrounder/made-china-2025-threat-global-trade">'Made in China 2025' </a>and <a href="https://www.brookings.edu/blog/future-development/2021/09/24/whats-next-for-poverty-reduction-policies-in-china/">poverty reduction</a> policies. In its 2021 human rights report, the Biden Administration called China's treatment of the Uyghurs <a href="https://www.washingtonpost.com/national-security/china-genocide-human-rights-report/2021/03/30/b2fa8312-9193-11eb-9af7-fd0822ae4398_story.html" rel=" nofollow">"genocide."</a>Carmakers use steel and aluminum from China — which subsidizes production in the Xinjiang region — to create car frames, wheels, brakes, and bodies, according to the researchers. They are also tied to Chinese manufacturers that produce copper and nickel, as well as tires, interiors, batteries, and windshields for cars, researchers said.Working conditions in Xinjiang-based metal factories are "utterly appalling," Kendyl Salcito, one of the researchers involved in the study, told Insider. Aluminum factory workers must labor in "incredibly hot conditions" as the smelter melts aluminum at high temperatures. Those who are tasked to clean ball mills — tools used to grind and crush minerals — are exposed to dangerous chemicals, the researchers sayThe new report comes as countries like the <a href="https://www.cbp.gov/trade/forced-labor/UFLPA">US</a> and <a href="https://www.loc.gov/item/global-legal-monitor/2021-08-17/germany-new-law-obligates-companies-to-establish-due-diligence-procedures-in-global-supply-chains-to-safeguard-human-rights-and-the-environment/">Germany</a> — some of the largest car producers in the world after China, per the researchers — have passed laws to eliminate forced labor in their supply chains.It's especially relevant now that many countries seek to decarbonize their supply chains and have agreed to do so in an ethical manner, Salcito said.Other industries, like solar panel manufacturers, have <a href="https://www.businessinsider.com/forced-uyghur-labor-china-solar-panel-supply-chain-research-report-2022-11">recently been revealed</a> to have similar ties to Uyghur labor.Many of the car companies say they aren't aware that they are sourcing metals from the Uyghur region given the complexity of the supply chain, the research says.A Volkswagen spokesperson told Insider that "it takes its corporate responsibility very seriously" and that "respect for human rights is the ethical basis of our business activities.""We reject forced labor and all forms of modern slavery including human trafficking," said Volkswagen. A Honda spokesperson told Insider that it "expects our suppliers to follow our <a href="https://global.honda/sustainability/cq_img/report/pdf/supply-chain/supplier-sustainability-guidelines.pdf">Global Sustainability Guidelines</a> with respect to labor."A General Motors spokesperson told Insider that "we actively monitor our global supply chain and conduct extensive due diligence," and said that its code of conduct is informed by the <a href="https://www.unglobalcompact.org/sdgs">United Nations Global Compact standards</a>.A Stellantis spokesperson referred Insider to <a href="https://www.stellantis.com/en/responsibility/responsible-purchasing-practices">its policy for responsible purchasing practices</a>. Mercedes-Benz, Toyota, and Tesla did not respond to a request for comment ahead of publication.If car manufacturers continue to depend on Uyghur suppliers, it means that the "the automotive industry will have chosen to contribute to a slow burn genocide," Salcito said. The report recommends governments enact laws that ban imports linked to forced labor and for car companies to end relationships with suppliers based in Xinjiang."We need to see industry begging for alternative supply chains," Salcito said.

Tesla, Volkswagen, and GM might be using metal from factories linked to forced Uyghur labor, researchers say

Mumbai, Jul 3 () With the COVID-19 pandemic causing disruptions in the country, demand for non-ferrous metals has been severely impacted and in the current calendar year, the consumption is likely to contract 3-4 per cent for copper and zinc and up to 8 per cent for aluminum, according to a report. "The COVID-19 pandemic has not only impacted metal consumption, but it has also disrupted mining activities, which would restrict availability of the metals in the physical market going forward," ICRA Ratings Senior Vice-President and Group Head (Corporate Sector) Jayanta Roy said. He added that the prevailing buoyancy in prices is a result of the markets factoring in this disruption. ICRA expects that in 2020, consumption of these metals would contract significantly, ranging from 3-4 per cent for copper and zinc and up to 8 per cent for aluminum on a year-on-year basis. Meanwhile, the movement in non-ferrous metal prices since the outbreak of the pandemic has followed three distinctive phases -- the first phase being in January when prices crashed 7-10 per cent in 10 days after the news on the outbreak of COVID-19 in China came to light. Subsequently, the prices stabilised in February, although at a lower level, as the reported number of fresh cases in China declined. As the virus started spreading, global macroeconomic sentiments turned negative once again, and the second phase of correction was witnessed when the prices crashed by 15-20 per cent in March and April. Metal prices have since recovered by 10 per cent, 13 per cent, and 27 per cent for aluminium, zinc and copper, respectively, in the last two months, the report said. The extent of recovery has varied factoring in the evolving demand-supply dynamics of the respective metals. Global mine supplies were severely impacted in March to May, which would result in lower metal production in the subsequent periods, it said. Consequently, while the markets of these metals are estimated to have been in large surpluses during the first half of 2020, the situation may change in the second half of the year as supply reduces, thereby narrowing the surplus in the physical market, it added. Additionally, the prevailing metal prices may also have received support from financial deals on the metals. Such deals have turned lucrative under the current market dynamics, on the back of abundant liquidity in global markets. Globally, construction and transportation sectors are major demand drivers of the three non-ferrous metals and these sectors are strongly correlated with the health of the underlying economies. With the outlook of the global economy turning adverse because of the pandemic, demand outlook of the base metals in turn is negative. Consequently, sustainability of prices at current levels is doubtful based on fundamentals, ICRA said. The y-o-y correction in international non-ferrous metal prices and the expected large-scale slowdown in demand would impact the credit metrics of the domestic primary non-ferrous manufacturers, it said. However, a simultaneous correction in input costs would support business margins to an extent, it added. The domestic manufacturers would also receive an additional support from the depreciation of the rupee against the US dollar. ICRA notes that contrary to the prevailing sentiments, the depreciated rupee has strengthened domestic copper prices by over 7 per cent as on date compared to levels prevailing a year ago. However, custom copper smelters would be impacted by a correction in copper treatment and refining charges by 29 per cent in the past three months, the report said. The outlook on the domestic primary non-ferrous industry remains negative, notwithstanding the recent recovery in prices, ICRA added. SM HRS

COVID-19 pandemic to impact non-ferrous metals demand in India: Report

New Delhi, Mar 12 () India Ratings on Thursday revised its outlook on the country's base metals sector to negative from stable for the coming fiscal, stressing that the coronavirus outbreak, continuing US-China trade dispute and subdued global demand would keep prices low in the near term. Prices may gradually improve as the pandemic is contained and the second phase of US-China trade negotiations is concluded, the rating agency said in a statement. As part of its study, the agency has covered the copper, zinc, aluminium and coal sectors. India Ratings and Research (Ind-Ra), however, has maintained a stable outlook for FY21 on the key rated sector entities, given the majority of them have an adequate liquidity position, strong financial flexibility, a low-cost position and a dominant market position. The key sector participants include Vedanta, National Aluminium Company and Hindalco Industries. "Ind-Ra expects the entities to record, on a consolidated basis, revenue growth of 5.5-6 per cent year-on-year, EBITDA margins in the range of 18-19 per cent and a steady net leverage at around 3x in FY21," it said. The outbreak of coronavirus shall result in a temporary zinc inventory pile up, as against the low levels at end-2019. Until the containment of the virus outbreak, zinc prices will be low and treatment charges and refining charges will moderate; and both with gradually reverse as the impact of the pandemic reduces. The zinc market is expected to be in marginal deficit over FY21. Copper prices will also be low due to the coronavirus outbreak, and will be supported once the epidemic is contained. Treatment charges and refining charges shall be high during this period due to limited smelter availability due to higher inventories of both refined copper and sulphuric acid (by-product) and would subsequently fall. From a domestic standpoint, India shall continue to be a net importer of copper in FY21, pending the resumption of Vedanta's copper smelting facility. The agency expects aluminium prices to experience downward pressure, due to a weak-end user demand and surplus market supply, despite Chinese environmental constraints. The heightened US-China trade tensions or a surge in Chinese production in 2020 upon the containment of the new coronavirus may trigger the prices to dive down further. India is dependent on imports of alumina and will have to find newer sources, it said. Coal price weakness is likely to continue. Higher domestic volume output remains dependent on the availability of evacuation infrastructure. Coal India Limited's volumes are likely to remain stable and coal cost would gradually improve over the mid-term as rake availability improves. Despite the recent regulations to privatise the coal sector, Coal India's monopoly is likely to continue over the near term due to the time duration required for new entrants to obtain regulatory approvals and to set up the logistical and infrastructure necessary for commercial production. Thermal coal imports shall gradually reduce upon the privatisation of the sector. However, coking coal imports are likely to be high over FY21, as India increases its steel production, the agency noted. SID SID ANSANS

Coronavirus pandemic, US-China trade negotiations to keep base metal prices low in near term

<ul class="summary-list"><li>Only 17% of <keyword id="1557023" type="PERSON" weightage="60" keywordseo="electronic-waste">electronic waste</keyword> gets recycled.</li><li>That's because devices weren't designed to be recycled. They're full of hazardous and tiny pieces.</li><li>E-recyclers like Sims Lifecycle Services have the expensive and dangerous job of <keyword id="114175" type="PERSON" weightage="60" keywordseo="recycling">recycling</keyword> millions of <keyword id="6380512" type="ORGANIZATION" weightage="60" keywordseo="electronics">electronics</keyword> a year.</li></ul>Following is a transcript of the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword>.Narrator: These are old printers, computers, and phones. And this machine's shredding them to be recycled. Only about 17% of all electronic waste ends up like this.Jim Puckett: It's very hard to recycle electronics. They're not designed to be recycled.Narrator: There are hundreds of tiny pieces hidden in every device, from toxic materials to plastic to gold. And they each have to be separated and recycled individually. Such precision takes lots of people, space, and heavy-duty machines. With a good deal of feminine power.Ingrid Sinclair: Sally is our big shredder. Heidi is German. Ginger's our metal finder.Producer: Female-dominant machines?Ingrid: Of course, yes.Narrator: And if everything goes right, there's lots of money to be made.Ingrid: We'll pull off the pieces, which will be of value.Narrator: That's Ingrid, president of Sims Lifecycle Services, one of the largest e-recyclers in the US. Ingrid took us through her biggest facility to see how it's repurposing or recycling up to 6 million pounds of old electronics every month.Ingrid: So we're in La Vergne, Tennessee, just outside of Nashville. This is a 200,000-square-foot facility where we focus on receiving, processing electronics.Narrator: Sims mainly gets electronic waste from office gear like laptops, computers, printers, or phones.Ingrid: We have Fortune 500 companies like <keyword id="6367983" type="ORGANIZATION" weightage="60" keywordseo="hp">HP</keyword> and Lexmark, insurance companies, banks.Narrator: The rest of its clients are secret. But Ingrid can tell us what happens to these devices once they get here.Ingrid: Reuse, repurpose, re-engineer. If we can't reuse it, very last resort is recycling. What you see here is where we first get the material in. It's a FIFO type of process -- first in, first out. That's how we work it. Here, she's offloading a truck. So she'll go in, get her forks into the pallet, and pull it out. This must have come from an office refresh. It looks like there's some old DVD player, some old stereo equipment.Narrator: The first stop: the scale.Ingrid: Then they will get the weights and input it into our data center. And that's what Drew is doing over there with the computer. Then it gets tagged with a bar code. It'll tell us whether we go to destroy-recycle or we go to reuse.Narrator: The building's broken up into recycling on the right and reuse on the left. We'll start here.Ingrid: If we can reuse it and reuse the parts, then you're not making a new part. So this is the part harvesting area for the laptops. Sometimes when you can't sell a whole laptop, we can remove parts from it and either rebuild a laptop to sell or sell the parts.Narrator: To get all these tiny pieces out of a device without hurting them, it takes a lot of skill and ...Ingrid: Different screws. A lot of different screws.Jim: So much of it still needs to be done manually, and to do it properly, and that's very labor-intensive.Narrator: Memory units, processors, screens, keyboards, and motherboards can all be reused. Workers will clean them, check that they're functioning, and send them back into inventory to be sold again.Ingrid: Lots of times when we're allowed to sell units, we'll do revenue-share with it. So we'll share revenue with the clients. So that's kind of a nice way to add life to the electronics and then also get some revenue back.Narrator: Big hard drives pulled from computers or servers are another moneymaker, but they come with an added challenge of security.Ingrid: You can see the fence, you need a key card to get in. I don't know if I have access. Oh, I do! So here is where you'll see the higher-value material.Narrator: Any store data has to be wiped before a drive can be resold.Ingrid: We have a lot of banks and insurance companies as our clients. So you can well imagine that those folks want their data erased properly. This is where you'll see some of the wiping going on of the hard drives. At the end here, these have already been done. So they're ready to go to the next step to get resold. So our drives will sell wholesale or on eBay. You can see these guys are deemed for eBay. So you'll see one terabyte, 500 gigabytes, all different-size drive. The smaller drives, there just isn't any value in it anymore.Narrator: So if something's simply not worth Sims' time to refurbish, it's send to be recycled.Ingrid: On the other side is destroy-recycle. And over here, we have a lot of folks that are de-packaging and also removing hazards.Narrator: This part's called demanufacturing.Ingrid: So we'll remove hazards, batteries, and all that type of thing before it goes to be shredded on this side.Narrator: There's a lot of hazardous materials in electronics like mercury, cadmium, and lead. And if devices end up in landfills, that bad stuff could do major damage to groundwater and soil.Ingrid: This is what we want to ensure does not go into the shredder, because this could be really dangerous for fire. If we leave toner in there, I mean, it goes up like nothing. Toner is explosive. And then the plastic acts as a fuel source. That's our biggest challenge.Narrator: Everything that's not hazardous gets shredded.Ingrid: So this is Laurie, and Laurie is running the shredder all with a mouse, right, Laurie? This is the control room.Laurie: I have control of how much goes in the shredder, how much is on the belt. I can stop the belt, I can speed it up, I can jog it.Ingrid: It's a 400-horsepower quad shredder, which means you have these teeth that are grinding up all the material here. And those are nice printers that are getting eaten up and ground out to this on the outside. So this is a really cool part. It's very noisy. The first thing that we're trying to do is remove any steel.Narrator: A giant magnet overhead pulls out all the steel.Ingrid: This is where the charge is added to the material, and based on the plus and minus, will repel. So the aluminum gets thrown the farthest away. So that's why aluminum is here. And the circuit board is in the middle, and the plastic falls right down because it doesn't accept the charge.Narrator: The leftover mix heads to another machine named Heidi.Ingrid: Heidi is German. Originally, we were using it to separate plastic, but the technology wasn't keeping up, it doesn't work on black plastic. And you see today everything's black plastic.Narrator: Now, Heidi separates everything using infrared technology.Ingrid: Ginger's our metal finder. She was named after the engineer who designed her because he had a ginger beard. And Ginger is just taking out any further metal that's still within the plastic mix.Narrator: What's left goes into the Dutch sink-float machine named Otto.Ingrid: So I guess that's the only male machine we have.Narrator: In Otto, plastic floats, while everything else sinks.Ingrid: We scoop off the top the good stuff. And that's what will go to Montreal to our plastic compounder and then goes back to HP to get reused into parts.Narrator: And those raw materials can make Sims some pretty good money.Ingrid: So we really want to recover that value.Narrator: Every electronic has precious metals in it.Jim: Some gold, some copper, some platinum, some palladium.Ingrid: So all these elements can be separated and sold to be reused piecemeal. The copper and precious metal streams will go to a copper smelter in Canada, or in Europe, or Japan. The steel will go to a steel mill here in Tennessee.Narrator: But with more than 75% of <keyword id="6361522" type="UNKNOWN" weightage="60" keywordseo="E-waste">e-waste</keyword> landfill-bound, companies are missing out on huge profits. To put it in perspective, in 2019, an estimated $57 billion worth of precious metals and valuables and electronics were thrown away or burned.Ingrid: If we recycle it, then we're not digging holes and mining for virgin metals. It's a way to get some really precious commodities without expending all that energy and damage to the environment.Narrator: But it's a Catch-22. Recycling e-waste could be a moneymaker, and it's better for the environment. But it's both really hard and expensive to do.Jim: They're not designed to be recycled, many different chemical compounds all smashed together. When devices got smaller and smaller, removing whole components became less and less possible.Narrator: Treating and disposing of these hazardous materials is dangerous and pricey. Recyclers also have to constantly upgrade machines and processes to keep up with this changing technology. And that's costly, too.Ingrid: We normally change the blades once a year, and when it gets towards the end, the blades get a bit dull. Well that's when we get a little bit anxious. And sometimes there are jams.Narrator: Sims has invested a thousand hours in updating just its Sally the shredder machine. And while recyclers are facing all of these challenges, e-waste is only expected to increase by 38% over the next decade. So is there a way to make e-recycling easier? Some say it starts with manufacturers.Jim: What a lot of the manufacturers are focused on rather than making products live a long time, they see their way out is to keep selling as many products as they can as rapidly as possible. And they try to compensate by saying, "Don't worry, it's recyclable." And so this churn-and-burn mentality is very harmful.Narrator: Jim thinks one solution could be for manufacturers to create electronics that are actually meant to be recycled. For example, making devices that don't have toxins so they're safer and easier to break down. But until that happens, Sims will keep wiping and shredding those hard-to-recycle electronics.

How 6 million pounds of electronic waste gets recycled each month

<keyword id="12864" type="LOCATION" weightage="20" keywordseo="Chennai">Chennai</keyword>, Actor <keyword id="14509" type="PERSON" weightage="20" keywordseo="Rajinikanth">Rajinikanth</keyword> on Monday told the District Secretaries of '<keyword id="6124611" type="COMPANY" weightage="20" keywordseo="Rajini-Makkal-Mandram">Rajini Makkal Mandram</keyword>' that he would announce the decision on his <keyword id="10355431" type="UNKNOWN" weightage="20" keywordseo="active-political-plunge">active political plunge</keyword> soon through the media. Speaking to reporters here, a couple of District Secretaries said the actor had told them that he would decide on floating a political party and plunge into politics. Rajinikanth would announce his decision on jumping into active Tamil Nadu politics soon, said two District Secretaries, who met the actor on Monday. According to the Mandram officials, they also expressed concern at Rajinikanth's health condition, and contesting the 2021 Tamil Nadu Assembly polls will be the ideal time. The meeting lasted for about two hours. After the meeting he waved at the crowd assembled outside his <keyword id="1247166" type="COMPANY" weightage="20" keywordseo="Raghavendra-Kalyana-Mandapam">Raghavendra Kalyana Mandapam</keyword> sans mask. It is also said Rajinikanth had told the District Secretaries that it is not possible for anyone to make money in politics with him. Last month Rajinikanth tweeted that he would consult with the officials of Rajini Makkal Mandram about his health condition and announce his political stance to the people. At that time denying a statement purported to be issued by him announcing his decision to quit politics, Rajinikanth said some of the contents in that statement relating to his health and the medical advice given by the doctors were true. "After discussing the matter with the officials of the Rajini Makkal Mandram, at an appropriate time I will announce my political stance to the people," Rajinikanth had said. As per the alleged statement, Rajinikanth's doctors had voiced their reservations on his political entry since he had undergone a kidney transplant sometime back.t They had also told him that there was no vaccine for Covid-19 and even if there was one, whether it would be effective at his age of 70. The election for Tamil Nadu Assembly is slated in 2021. As per the purported statement, if Rajinikanth had to start a political party then the plans would have to be finalised by December and an announcement to be made by January 15 next year. The condition of his health getting bad was also mentioned as he had to address rallies and meet people once he plunged into active politics during the Covid-19 period. Asserting that he was not getting into politics for the sake of power, actor turned politician Rajinikanth in March this year ruled himself out of the race for the Tamil Nadu Chief Minister's post and said there was an urgent need for a change in the system. He said that his political party and the government, in case it came to power, would have different leaders. He said that 60-65 per cent of his party's candidate for the Tamil Nadu Assembly polls will be in the age group of 45-50. The remaining seats will go to good people in other parties, professionals, judges, and former IAS officers. Recalling his speech on December 31, 2017, Rajini said that he was not into politics for power. At the age of 45 (in 1996) he was not interested in political power, and now at the age of 68 (in 2017) one cannot say he is power crazy, he recalled saying two years ago. On December 31, 2017, Rajinikanth had announced his decision to float a political party to practice 'spiritual politics' and contest all 234 Assembly seats in Tamil Nadu in 2021. The actor said at that time that his entry into politics was a "compulsion of time" since the country's politics had gone wrong. Rajinikanth had remarked that while earlier kings would invade other countries and loot them, nowadays political parties were looting their own people under the guise of democracy. The system needed a change, he added. After 2017, Rajinikanth has voiced his views on some issues. In the wake of anti-Sterlite Copper smelter plant protest in Tuticorin and killing of 13 persons in police firing, he said that Tamil Nadu would turn into a graveyard if protests were held for everything. Later, he said that he was not a mouthpiece of the BJP and attempts were being made to paint him in saffron. SEE ALSO - <a href="https://www.businessinsider.in/india/news/pm-modi-to-hold-talks-gennova-biopharma-biological-e-dr-reddys-teams-involved-in-developing-the-covid-19-vaccine/articleshow/79484713.cms" data-type="tilCustomLink">https://www.businessinsider.in/india/news/pm-modi-to-hold-talks-gennova-biopharma-biological-e-dr-reddys-teams-involved-in-developing-the-covid-19-vaccine/articleshow/79484713.cms</a> <a href="https://www.businessinsider.in/india/news/rajasthan-government-imposes-night-curfew-from-8-pm-to-6-am-these-are-the-districts-under-restriction/articleshow/79484267.cms" data-type="tilCustomLink">https://www.businessinsider.in/india/news/rajasthan-government-imposes-night-curfew-from-8-pm-to-6-am-these-are-the-districts-under-restriction/articleshow/79484267.cms</a>

You Searched For "copper smelter" and got 13 results

Hindalco Q1 profit rises 25% Rs 3,074 crore on operational efficiencies, lower input costs

PTI

Vedanta puts its copper smelter plant in Tuticorin on sale

IANS

India’s Supreme Court orders controversial copper smelter plant Sterlite to remain shut

Sanchita Dash

India deports American journalist who was making an environmental documentary on a controversial copper smelter plant

BI India Bureau

Production, exports of refined copper dip due to closure of Vedanta's plant in Tamil Nadu

PTI

Refined copper imports jump 2-folds to over 92,000 tn in FY19

PTI

A key barometer of economic health is flashing more warning signs for China's economy

Filip De Mott

Rupee falls by 6 paise on strong dollar demand and persistent FII outflows

PTI

Tesla, Volkswagen, and GM might be using metal from factories linked to forced Uyghur labor, researchers say

Aaron Mok

COVID-19 pandemic to impact non-ferrous metals demand in India: Report

PTI

Coronavirus pandemic, US-China trade negotiations to keep base metal prices low in near term

PTI

How 6 million pounds of electronic waste gets recycled each month

Abby Narishkin,Steve Cameron,…

Rajinikanth to announce decision on active political plunge soon

IANS

Popular Keywords

Buying Guides