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The quality control order (QCO) on refined copper, which came into effect on December 1, is leading to a supply shortage of copper.
India imports 30-40% of its refined copper, a critical raw material for electrical wires and cables.
The Ministry of Mines issued the quality control order (QCO), which prohibits producers from exporting refined copper to India without BIS certification. Japanese suppliers, which account for 80% of India's copper imports, are still awaiting certification.
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The copper supply shortage has caused delays in downstream industries like wire, cable, and electrical equipment manufacturing. This disruption resulted in increased input costs and delays in ongoing projects. |
Copper is malleable and ductile, so it can be easily shaped and stretched. It is also corrosion-resistant, making it useful in various environments.
Copper is 100% recyclable with no loss of quality, making it an environmentally friendly metal. Recycling copper has a lower environmental impact and saves energy compared to producing new copper.
Copper is the second most conductive metal after silver, and is used in almost all electrical wiring. It is also used in electronic circuits, telephones, and other electrical appliances.
It is utilized in roofing, plumbing, and other building materials.
It is used in heat exchangers and other industrial equipment.
It is alloyed with other metals to form materials with specific characteristics.
It is utilized in utensils, containers, calorimeters, coins, electroplating, and renewable energy.
India produces only about 2% of the world's total copper output.
Despite having limited reserves, India remains one of the world's top 20 copper producers. However, the country is also one of the largest copper importers.
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In 2023, the top five global copper producers are: Chile, Peru, the Democratic Republic of the Congo, China, and the United States. Chile is both the world's largest producer and exporter of copper. |
India's copper reserves are limited and mainly consist of low-grade ores, resulting in heavy dependence on imports.Rising energy and labor costs, combined with higher working capital costs in comparison to developed and ASEAN countries, reduce domestic production's competitiveness.Mining activities cause pollution and deforestation, which frequently leads to opposition from local communities and environmental groups.India's mining practices are out of date, which limits the efficiency and effectiveness of copper extraction.The ageing infrastructure of mining operations puts pressure on copper supply and raises production costs.
Mining Reforms to promote industry growth, the government has simplified auction processes and increased transparency in the allocation of mining resources.
National Mineral Policy (NMP) 2019 aims to promote domestic mining and reduce dependence on imports.
Government incentives for electric vehicles and solar energy have increased demand for copper, requiring the industry to adapt.
Aatmanirbhar Bharat and Make in India initiatives encourage investment in the copper industry to boost domestic production and reduce reliance on imports.
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PRACTICE QUESTION Q.Match the following copper mines with the state:
Select the correct answer using the codes given below: A) 1-c, 2-a, 3-b B) 1-b, 2-a, 3-c C) 1-c, 2-b, 3-a D)1- b, 2-c, 3- a Answer: D Explanation: The major copper mines in India are the Khetri copper belt in Rajasthan, the Singhbhum copper belt in Jharkhand and the Malanjkhand copper belt in Madhya Pradesh. |
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