According to an article on www.wnem.com, Gov. Jennifer M. Granholm has signed legislation that is designed to help stop illegal sales and purchases of copper and other stolen metals.
Global economic growth before the downturn resulted in frequent and significant increases in the price of commodities such as copper, zinc, and nickel, making this type of scrap metal very valuable, the articles says.
“The larceny of copper and other metals has become a serious problem,” Granholm says. “As we continue our efforts to strengthen and rebuild our communities, we must put an end to this destructive criminal activity.”
Under the new law, a person who knowingly buys or sells stolen scrap metal will be subject to felony penalties, including imprisonment for up to five years or a fine of up to $5,000, or both.
The theft of copper and other metals has become a serious problem in many
The new law is will strengthen regulation and oversight of scrap metal dealers and sales, according to the article. Dealers will be required to maintain records of purchases and tag and hold most purchased nonferrous metal for seven calendar days.
In order to sell scrap metal, the new law requires sellers to:
• allow the buyer to take a thumbprint;
• sign a statement indicating they are the owner of or are authorized to sell the metal; and
• sign a statement that they have not been convicted of metal theft
Latest from Recycling Today
- US Steel to restart Illinois blast furnace
- AISI, Aluminum Association cite USMCA triangular trading concerns
- Nucor names new president
- DOE rare earths funding is open to recyclers
- Design for Recycling Resolution introduced
- PetStar PET recycling plant expands
- Iron Bull addresses scrap handling needs with custom hoppers
- REgroup, CP Group to build advanced MRF in Nova Scotia
