AlCircle News Edited By "Rupankar Majumder"
A professional with a technical background, specialising in producing insightful content centred around metals, particularly aluminium, passionately engaged in the intricacies of the recycling sector.
Smelter capacity cannot be brought back into operation until demand assurance returns: Hydro
On February 14, 2023, a top executive of the Norwegian aluminium giant stated during a discussion with international media that Hydro wouldn't increase production merely due to a decline in power costs. The company will ramp up when it feels comfortable and see that demand is more robust than expected. In August 2022, when European gas prices reached an all-time high of €345 per MWh, Norsk Hydro and several other primary aluminium producers in Europe announced significant output reductions for the remainder of 2022. This was in response to the significant decline in domestic demand. Hydro Karmoy and Hydro Husnes in Norway temporarily lowered their combined capacity by 110,000 to 130,000 tonnes. Also, the company declared that due to excessive energy costs, it would halt primary aluminium...
RHI Magnesita infusing INR 3600 crore in India, says CEO
The Austria-Vienna headquartered global refractory leader RHI Magnesita's CEO Stefan Borgas has stated that the company is investing INR 3,600 crore in the Indian market over the next two-three years to expand its production capacity and modernise facilities. However, Borgas also said that a portion of the company's capital investment of INR 3,600 crore was used to buy two refractory assets in India. The CEO said, "The capital infusion will be through the subsidiary RHI Magnesita India Ltd." "We have earmarked an INR 3,600 crore investment in India. This would go towards organic and inorganic capacity expansion and modernisation of the Indian manufacturing facilities." The company recently acquired Dalmia OCL and Hi-Tech Chemicals' refractory business for INR1,708 crore and INR 621 crore,...
Power rationing may be introduced again, aluminium smelters in Yunnan region to reduce output
As a result of the shortage of hydropower in Yunnan after the Chinese New Year holiday, a new round of power rationing is likely to be introduced again to impede aluminium production. In addition, some aluminium smelters are already planning to halt their electrolytic cells. The rumours of electricity restrictions did not surprise aluminium smelters . Several of them had already planned ways to reduce their energy usage, although the formal announcement regarding power rationing has yet to be made. A fresh wave of power restrictions is reportedly set to begin in Yunnan from February 13 to February 15, and aluminium producers will have to reduce their capacity by around 650,000 tonnes annually before reducing it further depending on the water level, as reported by SMM. However, on February...
DIPAM rejects Nalco's disinvestment agenda
The Department of Investment and Public Asset Management (DIPAM), which deals with all the matters relating to the management of Govt. of India investments in equity, including disinvestment of equity in Central Public Sector Undertakings, has rejected any disinvestment agenda for the state-owned National Aluminium Company (NALCO). Tuhin Kanta Pandey, the secretary of DIPAM, has flowed this information concerning Nalco. In Budget 2023, the government froze a much lower disinvestment target of INR 51,000 crores for FY24. DIPAM's secretary added, "The goal of the divestment is to follow a calibrated strategy and not distort the market. However, the divestment strategy did not include NALCO ." Nirmala Sitharaman, the Finance Minister of India, said in her budget speech, "It is proposed to...
Russia might restrict nickel and palladium exports to the US to counter steep aluminium import taxes
According to our sources, analysts from the metal industry have stated that Russia might restrict exports of critical metals like nickel and palladium if Washington imposes high tariffs on Russian aluminium imports. The Russian aluminium supply accounts for only a minor share of the US supplies. However, nickel is essential for the aerospace industry and electric vehicle batteries. Conversely, Palladium is a vital component for autocatalysts in gasoline-fuelled cars. According to Trade Data Monitor (TDM), around 11 per cent of the 92,624 tonnes of nickel imported by the US last year was imported from Russia, while Russian palladium shipments, at 20 tonnes, accounted for almost 35 per cent of US imports. The United States is planning to increase the import tax on Russian aluminium to 200...
Guinea's Prime Minister launches the billion-dollar Koumbia bauxite project
On February 16, 2023, the Prime Minister of Guinea, Dr Bernard Goumou, was precisely in Koumbia to launch a significant bauxite project. On this other trip to the Boké region, Dr Bernard Goumou was accompanied by Moussa Magassouba, the Minister of Mines and Geology. The Prime Minister and mining minister launched the development phase of the Koumbia bauxite project in conjunction with local populations. As part of the Alliance Mining Commodities (AMC) project, it is estimated to cost one billion dollars. The Project is located in the Gaoual prefecture of the Boké region of the Republic of Guinea , West Africa. The Koumbia mine is located approximately 220 kilometres north of Conakry, Guinea's capital, and 130 kilometres north of the port of Kamsar. The Koumbia mining concession spans 728...
Tata Steel's Rajesh Kumar appointed Balco's new CEO & WTD
India’s iconic aluminium producer and a subsidiary of Vedanta Aluminium Business, Bharat Aluminium Company Limited (BALCO), appointed Rajesh Kumar as its new Chief Executive Officer (CEO) and Whole Time Director (WTD). When it comes to operations, maintenance, project implementation, and efficient development in Tata Steel's Indian and Thai facilities, Rajesh Kumar has extensive industry experience spanning 36 years. He graduated from Banaras Hindu University with a B Tech in Mechanical Engineering (IIT BHU) and obtained his master's degree in business administration from XLRI, Jamshedpur, where he won a gold medal in finance (MBA). Rajesh Kumar, the new CEO of BALCO, has a wealth of experience in large-scale project execution, organizational excellence, and plant commissioning. He has...
Industry leader in sustainable solutions Jerome Lucaes launches 'Fast Forward Zero' in support of decarbonization
Fast Forward Zero, a climate and sustainability company, has launched its services to help businesses transform into net zero, circular and inclusive operating models. Empowering business transformations with real climate impact, Fast Forward Zero will also help investors and other business leaders build collaborative coalitions to shape better systems and solve complex problems. Jerome Lucaes, the company's CEO, leveraging over 25 years of experience, is working with a network of well-established experts and institutions to develop relevant and applicable solutions that inspire sustainable transformations to leverage unique competitive advantages. Jerome is one of the few business leaders with real experience and premium sustainability achievements that have been transformative for the...
ElvalHalcor secured 2nd place in the "Best Company" category at the "Business Awards HRIMA 2022”
On February 10, 2023, the only Greek producer of flat-rolled aluminium products , ElvalHalcor, received 2nd place in the "Best Company" category award during the Award Ceremony of the "Business Awards HRIMA 2022". As a result, it has reaffirmed its distinct position among companies that support the Greek economy and contribute to the growth of the Stock Exchange market. This distinction underlines ElvalHalcor's explosive growth, especially in light of the opportunities presented by the megatrends of urbanisation, the circular economy, and energy transition concerning the rising demand for cutting-edge, environmentally friendly products and services made of copper and aluminium. Spyros Kokkolis, ElvalHalcor's Chief Financial Officer, stated, while accepting the award on behalf of the...
Vedanta-hosted IAC 2023 concludes, leaders from 13 countries across the world in-attendance
The largest aluminium producer in India, Vedanta Aluminium, hosted the first edition of the International Aluminium Conference 2023 (IAC 2023) held on February 9-10, 2023 at its operations in Jharsuguda, Odisha in partnership with the Aluminium Association of India, concluded with a high hope by bringing India closer to become the "Aluminium Capital of the World". As India's leading business-to-business platform dedicated to the aluminium manufacturing value chain, the International Aluminium Conference facilitates collaboration among stakeholders in the aluminium manufacturing industry. Rahul Sharma, the CEO of Vedanta Aluminium Business, said, "We are delighted to have hosted some of the world's most innovative minds, experts in the metal & manufacturing field, and key players in the...
Bharat Forge reports 81% decline in net profit for Q3 FY23; overseas performance remains sluggish
The Indian multi-national company involved in the forging and automotive components manufacturing, Bharat Forge's overseas business posted an EBITDA loss of INR 62 crore in the December quarter (Q3FY23) on new product issues related to the capacity increase of aluminium forging capacity in Germany and the United States. The EBITDA loss of overseas subsidiaries in the September quarter (Q2FY23) was INR 34.1 crore. The management does anticipate that this new capacity will stabilise in FY24 and enjoy good margins at 75-80 per cent utilisation. Bharat Forge said, "Overseas businesses continue their journey to profitability with a focus on improving capacity utilisation, cost optimisation, price increases and cost reimbursement for customers." Due to rising expenses, the company's...
Aluminium casting solutions from Taural India may replace imports for vital sectors
Taural India, located in Pune, Maharashtra founded by a young entrepreneur Bharat Gite in 2016 to create aluminium casting solutions that could replace imported products in the sectors like defence, energy, healthcare, railways, and aerospace. India has attained the list to become the world's second-largest aluminium producer. Still, imports account for 60 per cent of total domestic demand, which includes aluminium castings, other than extrusions, rolled aluminium, aluminium foils, and other downstream products. According to Bharat, however, fewer Indian aluminium casting companies use sand casting technology to produce aluminium alloys in which liquid metal is poured into chemical sand moulds. Currently, these products are imported from countries like China, Europe, etc. In 2014, Bharat...
Camalco signs partnership agreement with NEF to hire qualified employees for Minim Martap bauxite project
On February 9, 2023, the National Employment Fund (NEF) and the Australian mining company Canyon Resources' Cameroonian subsidiary Camalco engaged in developing the project to explore the Minim Martap bauxite deposit in the Adamaoua region, inked a partnership agreement in Yaoundé. André Henry, the Director General of Camalco, said, "We intend to be close to the NEF so that precisely when we want to start the work and hire, we can rely on them to have qualified employees." The NEF will have to provide Camalco with its database of job seekers when the time comes to facilitate the recruitment of skilled labour for the Minim Martap project within the framework of this collaboration. Whenever Camalco's human resources requirements change, the mining operator should contact the NEF. Initially,...
DADA Holdings acquires majority stake in Italy’s Niche Fusina Rolled Products
The partners of DADA Holdings, LLC, announce that their affiliate, Niche European Holdings, LLC, has acquired a controlling stake in Niche Fusina Rolled Products S.r.l., which operates an aluminium rolling mill and related facilities in Fusina, Italy, just outside of Venice. Invitalia, the Italian government agency responsible for promoting inward investment and enterprise development throughout the country, is Niche Fusina's other remaining shareholder. DADA first acquired a minority stake in Niche Fusina in March 2022, in a sale approved by the Court of Venice in an insolvency proceeding. Niche Fusina is DADA's second foray into the aluminium rolling business; their first was Wise Metals Group, which they transformed into the world's third largest producer of can sheets for the beverage...
Gulf’s biggest miner Ma’aden reports 87% leap in net profit for 2022
The Saudi state-owned mining company headquartered in Riyadh, Ma'aden, has reported a more than 87 per cent leap in its full-year 2022 net profit, enhanced by higher sales and higher average prices. On February 13, 2023, the largest multi-traded mining company in the Middle-East region, Ma’aden, during filing to the Tadawul stock exchange, stated that the company posted $3.23 billion (Saudi riyals 12.13 billion) in net profit in 12 months to the end of December. Ma’aden is also in the aluminium business, and its move into aluminium production is to maximize the minerals and metals value chain. Ma’aden established a joint venture with Alcoa to build the world’s most efficient and integrated aluminium complex in Saudi Arabia. This USD$ 10.8 billion project includes a bauxite mine, an...
OM Holdings to produce higher value silicon metal with the rise in demand from the aluminium sector, among others
The ferroalloy smelting plant of the vertically integrated manganese and silicone metal company OM Holdings Ltd (OMH) in Malaysia’s Samalaju Industrial Park, Bintulu, will incorporate higher value-added silicon metal. The OM Materials (Sarawak) Sdn Bhd, the group's flagship smelter complex, successfully modified and converted two ferrosilicon (FeSi) furnaces into metal silicon (MetSi) furnaces to produce silicon metal. According to OM Holdings, "The first MetSi furnace is undergoing hot commissioning and performance testing." However, the MetSi furnace has a production capacity of 35 tonnes to 40 tonnes per day. The modification and conversion process involved dismantling two idle FeSi furnaces, followed by civil works and equipment installation carried out by contractors from China in...
Novelis won the '2022 Supplier of the Year' award from Hyundai Motor Group
On February 7, 2023, the world's leading sustainable aluminium solutions provider and leader in aluminium rolling and recycling, Novelis , announced that it received the '2022 Supplier of the Year' award from Hyundai Motor Group at the auto maker's annual 'Partnership Day' held in South Korea on February 3. Novelis was honoured in the material supplier category by Hyundai Motor Group based on a comprehensive evaluation of its aluminium and steel material suppliers in supply chain reliability, quality, and technical support. Novelis is the first aluminium sheet supplier named ‘Supplier of the Year’ by the South Korean automotive giant. Novelis supplies automotive aluminium sheets produced at its technically advanced rolling facility in Ulsan, South Korea, for internal and exterior...
Golkonda Aluminium Extrusions reports a 52% decline in net profit for Q3 FY23
Golkonda Aluminium Extrusions Ltd, formerly known as Alumeco India Extrusions, has reported a total income of INR 0.106 crores during the quarter ended December 31, 2022, compared to INR 0.224 crores during the quarter ended September 30, 2022. The company posted a net profit of INR 0.004 crores for the quarter that ended December 31, 2022, against a net profit of INR 0.449 crores for the quarter that ended September 30, 2022. The company has reported an EPS of INR 0.01 for the period ended December 31, 2022, compared to INR 0.85 for September 30, 2022. However, the company has reported a total income of INR 0.106 crores during the period ending December 31, 2022, compared to INR 0.218 crores ending December 31, 2021.
