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According to the Goa-based National Institute of Oceanography, India has surveyed an area of nearly 4m sq km in the central Indian Ocean basin that has led to findings of "significant commercial grades" of copper, nickel, iron and cobalt deposits.

TataAutoComp Ltd announced on 5th November that it is exiting its wire harness joint venture Tata Yazaki Autocomp. The Pune-based manufacturer of wiring harnesses, the second largest producer in the Indian market with a share of 16%, generates the largest portion of its revenue from sales to Tata motors. Japanese based Yazaki Corp, the joint venture partner, will now purchase the outstanding 50% of the company held by TataAutoComp.

"If this happens India would be the third largest economy in the world."

The International Copper Promotion Council (ICPC) is expecting Indian demand growth to be cut by almost half, to 8-9 percent this fiscal year, down from an average of 15% over the past two years. Strong industrial growth, residential construction and consumer spending have spurred on demand in Asia's third-largest economy, with copper consumption reaching 512,000t in 2007. However, rising inflation, and the subsequent hike in interest rates, looks set to cool demand growth this year. Industrial growth for June was reported at 5.4%, nearly half what it was in 2007. "The consumption of copper -based appliances in the white goods segment will slow down due to a reduced rate of growth in disposable incomes. This will also be a dampener on copper consumption," said a member of the ICPC in India. Ongoing government investment in power infrastructure and a growing emphasis on more energy-efficient appliances will protect demand, according to the ICPC, "partly cushioning the impact of a moderating economy."

Sept. 9 (Bloomberg) -- Vedanta Resources Inc., the Indian mining company controlled by billionaire Anil Agarwal, plans to invest $9.8 billion to become the world's fifth-largest aluminum producer.

MUMBAI : Indian copper futures fell on Friday after a huge rise in inventories coupled with demand concerns weighed on investor sentiment, analysts said

Indian non-ferrous metals producer Sterlite Industries Ltd expects its 400,000 tonnes-a-year capacity copper smelter in south India to be shut for about a month following a breakdown, a company source told Reuters on Monday.

The units in Jammu are becoming unviable and unless immediate steps are not taken, 150 such units, which were providing employment to over 10,000 people, may be closed down, Confederation of Indian Industry (CII), J&K, Chairman Sanjay Puri told reporters here.

During the inaugural address, P Parvathisem, former president, IIM and former CMD of NALCO and also Hindustan Copper Ltd, said that India remained unaffected by the global meltdown mainly because of various regulatory and control mechanisms and by nature being conservative in our approach. India was expected to grow at about 7 per cent. India witnessed substantial growth, progress in Zinc and Copper production and have to progressively invest in exploration and mining. In case of Aluminium, India was endowed with rich deposits and required R&D efforts for making Alumina. In case of lead, we should strive to develop it in a big way, he said.

The London Stock Exchange listed Indian company, Vedanta, will build a US$15M (Dh55M) continuous copper rod plant with annual capacity of 100,000 tonnes in Fujairah, UAE, which will be operational by December to capture the strong demand from regional infrastructure projects. Copper rods manufactured by the plant will be used in cables for power grids for the region and the company is expecting more demand coming from not only the UAE and the GCC but the whole Middle East.

Indian metals maker Sterlite Industries Ltd (STRL.BO: Quote) said on Friday it had raised its open offer price for bankrupt U.S. copper miner Asarco by a fifth to $2.565 billion.

"The plant has also got its own Ultra High Voltage (UHV) Laboratory, which is one of its kind in India. BHEL is the largest manufacturer of transformers in India, having supplied more than 4,000 transformers, aggregating to over 3,00,000 MVA in cumulative capacity for transmission and distribution networks, which are the mainstay of the Indian Grid."

"Green energy could give many more Indians access to electricity. "Forty per cent of India is still not connected to the grid," says Krishnan Pallassana of the Climate Group, an international think tank. "Clean energy, particularly solar and wind, could eventually connect these homes via renewable sources, and revitalise India's failing energy system.""