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13 FEBRUARY 2019 AL CIRCLE

Hindalco eyeing lithium for strengthening its aluminium business

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

According to a report by Business Standard, Hindalco Industries is eyeing lithium in the minor mineral space for strengthening its aluminium business. Managing Director Satish Pai said: “Lithium is the closest to our (aluminium) business, and in India, there could be some opportunities in this minor mineral. We are watching. If we get an opportunity we will get into this minor mineral.”

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Per the report, India’s one of the largest aluminium producer and part of the $44.3-billion Aditya Birla Group is targeting the minor mineral via its mining arm Essel Mining and Industries (EMIL).

At present, Essel Mining is into coal and iron ore mining contract, operating in 35 countries. “It is Essel Mining, the group’s mining arm, which is looking into this,” Pai said, without divulging any detail about a timeline.

Lithium and manganese are the two most common alloys used with aluminium. The output is mainly used in the aerospace industry. Besides, lithium has wide application in batteries for mobile phones, laptops, and electric vehicles. Global prices of lithium have moved up in the past five years but have been declining since last few months.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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