NALCO signs a lease for bauxite mining with 111 million tonnes of reserves

AL Circle

National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, has reportedly signed a mining lease deed with the State Government of Odisha. The mines are located in Pottangi Tehsil, Koraput District, and cover an area of 697.979 hectares.

NALCO signs a lease for bauxite mining with 111 million tonnes of reserves

{alcircleadd}

The bauxite mines, with their estimated reserves of 111 million tonnes and a mine life of 32 years, are a testament to NALCO's long-term vision and commitment to growth, expected to annually produce 3.5 million tonnes of bauxite.

The mines will become operational once the remaining statutory clearances are obtained. The bauxite excavated at the mines will be transported to NALCO's refinery at Damanjodi through an 18.5-kilometre overland conveyor.

Through this lease, NALCO secures a steady supply of bauxite for its existing refinery, creates certainty for future expansions, and strengthens its position in the aluminium industry.

The lease signing on June 13 led to a 5 per cent surge in shares the next day. At 12:45 PM, NALCO's shares traded at INR 194.10 on the National Stock Exchange (NSE).

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Know Aluminium? Publish your content on AL Circle and reach
a global audience.
* By providing your email, you are opting in to receive our bi-monthly Sustainability Newsletter.

Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
XIAN HUAN-TAI TECHNOLOGY

Your reliable partner in aluminum casthouse equipment and products

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Alternate Text
IBAAS​-IIM 2024

September 25-27, 2024 | BITS Pilani K K Birla Goa Campus, Goa, INDIA

Related
Business Leads
We are a chemical company in China, now we need to buy bauxi...
21-May-2024 Buying request

We need bauxite in bulk quantity and is looking for supplier...
02-Apr-2024 Buying request

Interested to buy bauxite ore. Total Quantity: As per buyer...
19-Jan-2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads