Bosch SDS, Dassault Systèmes collaborate to advance AI-led manufacturing in India
Bosch Software and Digital Solutions (Bosch SDS) and Dassault Systèmes today announced a collaboration in India to help manufacturing enterprises accelerate digital transformation across product engineering, manufacturing operations and industrial value chains. The collaboration brings together...
Adani-IHC expand Odisha investment plans to $25bn across 14 projects
Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group have expanded their investment plans in Odisha, outlining INR 2.105 trillion (USD 25 billion) of potential investment across 14 projects spanning metals, critical minerals, energy, chemicals and infrastructure. The...
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Ess Dee Aluminium Ltd approves appointment of additional director
The Board of Directors of Ess Dee Aluminium Ltd at its meeting held on November 10, 2015, has approved the appointment of Mr. Kanwal Kishore as an Additional Director and Whole Time Director on the Board of the company with effect from November 10, 2015 subject to the approval of the members of the...
2Q profit outperforms expectations on higher aluminum production
The standalone performance of Hindalco Industries, controlled by Indian billionaire Kumar of the metal, for the September quarter was impacted by a fall in the price of aluminium, a business which accounted for over 40% of revenues and nearly half of profits last fiscal. Profit rose to INR 1.03...
Australian Bauxite signs offtake agreement with Rawmin Mining and Industries
Australian Bauxite Ltd (ABx) has finalised an offtake agreement with Rawmin Mining and Industries Pvt Ltd of Mumbai, India. The agreement, which covers all bauxite produced by ABx out of Tasmania and runs five years, provides for Rawmin to buy 4.7 million wet metric tonnes of bauxite commencing...
Nalco to set up 1 mtpa refinery plant in Odisha
Aluminium major Nalco will set up a one million tonnes a year alumina refinery plant in Odisha as part of its expansion plan, union mines secretary Balvinder Kumar said on Monday. The company would set up the plant at Damanjodi in Koraput district with an investment of Rs.5,600 crore, he added. The...
Jaguar Land Rover drafts £4.5 billion cost-cutting plan
Tata Motors-owned Jaguar Land Rover (JLR) has drafted a new £4.5-billion cost-cutting plan to offset rising emissions cost and the slowdown in China, one of the biggest automotive markets in the world. The project—known as Leap 4.5—will scrutinise almost every area of spending at Britain’s luxury...
Vedanta group's Balco inaugurates new coal mine
Bharat Aluminium Company Limited (Balco), a subsidiary of Vedanta Limited, inaugurated its Chotia coal mine on November 3, 2015. The mine was allocated to Balco in February this year after the company emerged as the highest bidder for it in the first phase of coal auction. Balco has projected three...
Andhra government to divert land for bauxite mining
The Government of Andhra Pradesh, India, has decided to divert 1,212 hectares in Chintapalli and Jerrila reserve forest in Narsipatnam division for bauxite mining. In a decision that could trigger agitations in the agency areas of Visakhapatnam, the State government has approved mining lease for...
China alumina imports down 6.80% MoM in September
China imported 372,000 million tonnes (mt) of alumina in September, down 6.80% MoM, but up 9.79% YoY, customs data showed. Despite falling import prices, import volumes did not grow significantly, due to rising port stocks and weaker demand from aluminum smelters. China imported 3.14 million mt of...
Chhotanagpur Bauxite Union holds Annual Meet
The annual meet of India's Chhotanagpur Bauxite Union was observed at town hall in the head of district president Vakil Khan. In the meet, Rajya Sabha member-cum-secretary of the union Dheeraj Prasad Sahu and chairman of Scheduled Tribes commission Rameshwar Oraon were present. On the occasion,...
Non-ferrous margins fell in 2015, costs escalated: BIR Convention
The Bureau of International Recycling (BIR) Annual Autumn Round-Tables Conference held recently in Prague noted that non-ferrous industry had a very tough year in 2015. The confidence level among industry participants hit lowest level during the year. The industry suffered large due to thin margins...
Odisha to come out with draft policy for downstream industries
To give a fillip to downstream industries, the state government of Odisha in India plans to come out with a dedicated policy for downstream industries, which includes aluminium extrusion and allied businesses. "The draft of the policy would be ready before the end of this fiscal. The policy for...
Aluminium futures weaken on global cues
Aluminium prices were down 0.78 per cent to INR 95.30 per kg in futures trade today as investors reduced exposures amid weak global cues and sluggish demand in the domestic spot markets. At the Multi Commodity Exchange, aluminium for delivery in November eased by 75 paise, or 0.78 per cent, to INR...
Alcoa opens advanced jet engine parts facility in Indiana
Lightweight metals leader Alcoa today officially opened its state-of-the-art jet engine parts facility in La Porte, Indiana. The facility doubles Alcoa’s capacity in La Porte and provides new capabilities that broaden its reach in engines for large commercial aircraft. The new plant will meet...
MCX aluminium rise on global cues, spot demand
Taking positive cues from global market and strong demand at India spot markets, aluminium prices edged up 0.43 per cent to INR 94.25 per kg in futures trade today as participants increased their bets. Marketmen said apart from increased domestic demand, a firming global trend after an interest...
Odisha pitches for Pottangi bauxite mines allocation for Nalco; fresh bid for Niyamgiri on cards
Indian aluminium major National Aluminium Company (Nalco) has inched closer in its bid to bag the Pottangi bauxite deposits with the Odisha government writing to the Union mines ministry to allocate the mines in favour of the central PSU. "We have already written to the Centre to allocate Pottangi...
Vedanta reports strong cash flows in a challenging commodity price environment
Indian miner Vedanta Limited (formerly known as Sesa Sterlite Ltd) has announced its unaudited consolidated results for the second quarter ended 30 September 2015. Revenues stood at INR 16,349 crore and a cash flow of INR 7,145 crore was generated despite a challenging commodity price environment...
Aluminium down 0.26%, hurt by muted demand
Aluminium prices eased 0.26 per cent and were trading at INR 95.15 per kg in futures trade today as speculators reduced exposure, driven by sluggish demand from consuming industries at the spot market amid weak trend overseas. At the Multi Commodity Exchange, aluminium for delivery in October shed...
Vedanta wins the ‘Excellence in Corporate Governance’ Award by the IOD
Vedanta Limited, India’s only diversified natural resources company, with global assets has been awarded the ‘Excellence in Corporate Governance Award' instituted by the Institute of Directors(IOD), India. This Award recognizes Vedanta’s commitment as an organization to the high standards of...
