$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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South Goa traffic cell calls for restricted movement for bauxite-laden trucks
South Goa traffic cell has lodged a complaint with the district magistrate to restrict the transportation of bauxite-laden trucks operating between the Naquerim-Betul and Vasco as it causes traffic congestions in the port area, especially during peak times. Trucks are said to make around 220 trips...
Aluminium rises by 0.2% on global cues
Aluminium futures rose by 0.23% to INR 111.05 per kg today as speculators enlarged exposures on pick up in spot demand and a firming trend in base metals overseas. At the Multi Commodity Exchange, aluminium prices for delivery in March traded higher by 25 paise, or 0.23%, at INR 111.05 per kg in a...
Sapa endorses aluminium heat exchangers in India
Sapa demonstrated at ACREX India 2015 how it turns its global aspect into an asset for local service and technical support in aluminium heat exchangers. Every year, ACREX brings together players working in the air conditioning, ventilation, refrigeration and building services industries. It is the...
South Korea buys 2,000 tons of aluminium paying the lowest premium
South Korea has paid the smallest premium in more than a year to source aluminium, the results of a tender showed on Wednesday, the latest sign of intensifying pressure on premiums that is putting the operations of global producers under threat. South Korea bought 1,000 tonnes of aluminium to be...
Madras HC asks Centre not to issue any notification against Hyundai
The Madras High Court has asked the Government of India not to issue any notification against the Korean auto major Hyundai in a case related to anti-dumping duty. The order, which was passed on February 27, 2015, on a petition filed by Hyundai, which sought the Court to terminate the investigation...
NALCO Board to consider Interim Dividend for FY 2014-15
A meeting of the Board of Directors of National Aluminium Company Ltd will be held on March 12, 2015, to consider declaration of interim dividend for the Financial Year 2014-15. March 19, 2015 has been fixed as the Record Date for the purpose of Payment of Interim Dividend. Shares of NATIONAL...
Sesa Sterlite plans cost cuts for the financial year 2015-16
Sesa Sterlite, the metals, mining and energy firm has released its revised capital expenditure (capex) for the new financial year (2015-16) cutting costs to $1 billion from $2 billion planned last year. Cairn India bears the bigger brunt of the cost cuts with their capex reduced to $500 million...
Hindalco Industries gains after winning a coal block in Jharkhand
Hindalco Industries rose 0.54% to INR148.70 at 9:15 IST on BSE after the company won the Dumri coal block in Jharkhand at Rs 2,127 per tonne on the third day of coal auctions for schedule III category mines held on Saturday, 7 March 2015. The stock hit a high of INR 150 and a low of INR 148 so far...
India plant secures SQ certification from Hyundai-Kia Motors
Sapa’s aluminium tubing plant in Pune, India, has obtained the supplier quality mark of certification from Hyundai Motors India Ltd. The accolade verifies quality mindset from shop floor to management. SQ – Mark Tier 2 is a certificate issued by the automotive quality assurance team of Hyundai...
Indian Govt plans to auction minerals like iron ore, bauxite
New Delhi In a bid to bring in reforms in the mining sector and enhance transparency, the government plans to auction minerals such as iron ore, bauxite and manganese, Parliament was informed today. Minister of State for Mines and Steel Vishnu Deo Sai replied in affirmative in response to a query...
Parth Alluminium Ltd calls for Board Meeting on March 10, 2015
A meeting of the Board of Directors of Parth Alluminium Ltd will be held on March 10, 2015, to approve the Draft Scheme of Capital Reduction of Parth Alluminium Limited, subject to necessary approvals. Shares of PARTH ALUMINIUM LTD. was last trading in BSE at INR 5.19 as compared to the previous...
Odisha govt allows OMC to scrap 3 JVs on mining projects
The Odisha government has given permission to state-run Odisha Mining Corporation (OMC) to scrap the joint venture projects inked with three private sector heavyweights to go for iron ore and bauxite mining in the state. The companies are: Anglo-Australian mining major Rio Tinto, Hindalco and the...
The Govt. of India holds back four coal mines to investigate price discrepancies
The Government will be reassessing four out of the 19 coal blocks that were bid for and sold in the first phase of the coal auctions to examine why the bids were so low in case of these mines. The four blocks are Gare Palma IV/1, IV/2, IV/3 and the Marki Mangli III. The Gare Palma IV/2 and IV/3...
Orissa red flags Centre’s plan to give gram sabhas mineral rights
The Orissa steel and mines department has said no to the Union Panchayatiraj Ministry’s proposal to give gram sabhas rights over major minerals. In 2013, the ministry had sent a draft Panchayat Extension to Scheduled Areas Bill, 2013 to the states, seeking their views on it. The draft bill...
Angul aluminium park gets the final nod from the Indian Union government
The long awaited Angul aluminium park, a joint venture between Odisha Industrial Infrastructure Development Corporation (Idco) and National Aluminium Company Ltd (Nalco) finally gets a nod of approval from the Union Government. A special purpose vehicle (SPV) named Angul Aluminium Park Private Ltd...
Uno Minda forms JV with Japan's Kosei Aluminum
Auto component maker Uno Minda has inked a joint venture pact with Japan's Kosei Aluminum Co to manufacture and sell alloy wheels in the country. The joint venture firm, Minda Kosei Aluminum Wheel, will be set up in Bawal (Haryana) with a total investment of Rs 200 crore for first phase of...
Pro Fin Capital Services Ltd's subsidiary to commence bauxite mining from 1st week of March
Pro Fin Capital Services Ltd's subsidiary, Tera Natural Resources and Pellets Private Limited ("Tera") has already obtained the lease for bauxite mining in Kolhapur District, Maharashtra. Tera would begin commercial operations in the first week of March 2015 as all other necessary approvals are...
Aluminium up by 0.2% on high demand
Aluminium futures edged higher by 0.23% to INR 111 per kg today after speculators enlarged positions amid pick-up in demand at spot markets. Furthermore, a firming trend in metal at the London Metal Exchange (LME) on fall in its inventories supported the upside. At the Multi Commodity Exchange,...
