$11.5b Adani-IRH aluminium project set to strengthen Odisha’s aluminium value chain
Odisha has handed over more than 7,000 acres of land for the Adani Group-International Resources Holding (IRH) joint venture’s proposed USD 11.5 billion integrated aluminium complex. This covers planned alumina refining, aluminium smelting and downstream manufacturing facilities across Sundargarh...
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...
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Hind and Universal Prime Aluminium appoint Women Directors as per Section 149(1) mandate
Two companies, Hind Aluminium Industries and Universal Prime Aluminium Ltd. have appointed women directors to their board, to fulfill the mandatory requirement under Section 149 (1) of the Companies Act, 2013. The Act states, “Every listed company and every public company having a paid up share...
Sesa Sterlite receives Shareholders' approval for name change to Vedanta
Sesa Sterlite Limited (‘Sesa Sterlite’ or ‘the Company’) hereby announces that the Shareholders of the Company, inter-alia have approved by requisite majority, the name change of the Company from its present name – Sesa Sterlite Limited to “Vedanta Limited”, through Postal Ballot Results announced...
Angul Aluminium Park receives 11 proposals from downstream units post approval
As soon as the Angul aluminium park received a go-ahead by the government, it has generated interest in the downstream aluminium industry inviting 11 proposals from establishments who are interested in setting up downstream units in the park. The proposed aluminium hub is a joint venture between...
Aluminium up by 0.5% on pick-up in demand
Aluminium futures edged higher by 0.50% to INR 111.40 per kg today as speculators enlarged positions amid pick-up in demand at spot markets. Besides, a firming trend in base metals pack at London Metal Exchange supported the upside. At Multi Commodity Exchange, aluminium for delivery in March rose...
Balco moves to High Court to contest against cancellation and reallocation of coal block
Bharat Aluminium Company (Balco) has moved to High Court to contest against the government’s decision to cancel the company’s bid for Gare Palma IV/1 and allot it to the state-owned Coal India Limited (CIL). Balco was the highest bidder for the Chhattisgarh coal block with INR 1585 a tonne but it...
Indian government to initiate new rounds of coal auctions next month
Indian government to start another round of coal auction next month which belong to the 204 coal blocks that were cancelled by the Supreme Court last year, announced Union Power Minister Piyush Goyal on Tuesday. No official number was declared as to how many coal blocks would be put on auction...
JNARDDC organizes three day workshop on “Microscopic Techniques in the Aluminium Industry”
The Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC), an autonomous body under the Ministry of Mines, Government of India, was founded in 1989 as a centre of excellence to cater to the technical and R&D needs of the Indian Aluminium Industry. Since the last 25 years of...
Aziana Limited to sell Manantenina Bauxite Project to Indian buyer
Aziana Limited has signed a conditional agreement to sell its Manantenina Bauxite Project in Madagascar for a total consideration of US$2 million (A$2.56 million) to India’s Thankys Exports Pvt. Ltd. The non-binding agreement includes a royalty of US$0.50 per tonne of bauxite mined. Manantenina...
Aluminium marginally up on global cues
Aluminium futures traded a shade higher at INR 111.70 per kg today as speculators enlarged exposures on pick-up in spot demand. However, the metal's weakness overseas capped the gains. At the Multi Commodity Exchange, aluminium for delivery in March traded higher by 15 paise, or 0.13%, at INR...
Parliament passes the Mines and Minerals Development and Regulation (MMDR) Bill, 2015
On Friday, the Parliament passed the much debated Mines and Minerals Development and Regulation (MMDR) Bill, 2015, a move that is expected to boost investments in the country. For the Indian economy to receive the much needed thrust forward, foreign investments are necessary and mining is a good...
Vedanta Aluminium granted access to laterite deposits by the Orissa Govt.
Vedanta Aluminium Limited (VAL) will be granted laterite deposits by for their Lanjgarh in Kalahandi district the State Government announced on Friday. An agreement will be signed between the government and VAL to explore the laterite deposits which contain substantial amount of aluminium although...
Ess Dee Aluminium gains 19% at BSE
Ess Dee Aluminium has bounced back strongly in intra-day deals on the back of strong volume after registering a fresh 52-week low in early trade on the BSE. The stock hit a fresh 52-week low at Rs. 125.50 - down 8 per cent in early deals. The stock, however, soon recouped losses and bounced back...
Aluminium falls by 0.4% on profit-booking
Aluminium prices fell by 0.45% to INR 111.50 per kg in futures trade today as participants reduced their exposures even as the metal strengthened at the London Metal Exchange (LME). At the Multi Commodity Exchange, aluminium for delivery in March eased by 50 paise, or 0.45%, to INR 111.50 per kg in...
Govt approves allocation of bauxite block to Odisha Mining
The government has approved a proposal from Odisha to allocate a bauxite deposit with reserves of over 150 million tonnes to the state mining company, a move likely to help companies like Sesa Sterlite Ltd that are banking on the raw material to fire their aluminium smelters in the state. In a...
Ess Dee Aluminium hits 30-month low
Shares of Ess Dee Aluminium have tanked 17% to INR 142, its lowest level in past 30-months on the BSE, on back of heavy volumes. Earlier, in September 2012, the stock had fallen below INR 150 mark. Till 1315 hours, a combined a 817,210 equity shares changed hands as against an average sub 250,000...
Uncertainties surrounding Hindalco affecting its market performance
Hindalco stocks were seen to slide on Monday by as much as 6 percent in an otherwise dull trading session ending the day at INR 126.90 on the BSE, still down by 3.4 percent. Reasons for the weak performance in the market is attributed to the uncertainty surrounding the company, with coal blocks...
Nalco declares dividend at INR 322.15 crore
Public sector aluminium firm National Aluminium Co. Ltd (Nalco) has declared an interim dividend of INR 322.15 crore for the current fiscal on the paid up equity share capital of INR1,288.62 crore. The dividend of 25%—INR.1.25 per share of INR 5 each—was approved in the meeting of Nalco’s board of...
Aluminium industry bags more coal mines indicating rising demand for the metal in India
In the recent Indian coal auctions, aluminium bagged more coal mines than steel as a result of aggressive bidding from aluminium producers pointing to a rising domestic demand for the metal. While aluminium is an energy intensive metal to produce, steel needs to coal as a reduction agent to form...
