Industry & Economy
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Metals
‘Industry must focus on zinc mining’
Our Bureau
Hyderabad, June 23
With global meltdown hitting hard, it is time to invest in exploration and mining of zinc, according to Mr P. Parvathisem, former Chairman and Managing Director of Nalco and Hindustan Copper.
Delivering the inaugural address at the two-day ‘Non-ferrous metals and global meltdown – India’s strategies’ here on Tuesday, he said though the country made sustainable growth in terms of zinc, the industry should focus on exploration and mining keeping in mind the long-term needs.
In terms of aluminium, Mr Parvathisem said there was no challenge with regard to ore. “We have vast deposits along the East coast. But what we need is R&D breakthroughs and emphasis on value addition,” he said.
The meet, organised by the Non-Ferrous Division of Indian Institute of Metals, discussed the outlook for non-ferrous metals, rare earths and value addition strategies for non-ferrous materials.
Mr L. Pugazhenthy, President, IIM, said it was important for the non-ferrous metals industry to prepare appropriate strategies to meet the contingencies and challenges.
Slowdown impact severe
The meeting assumed significance in the backdrop of severe impact of slowdown on the base metals such as aluminium, copper and zinc. “Stocks of aluminium and copper have been piling up. As a consequence, the prices of these metals are falling,” the association felt.
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