$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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Premium AEROTEC and Aequs Aerospace start off their 7 year partnership at Aero India 2015
At Aero India 2015, Premium AEROTEC received the first aluminium series components from Aequs Aerospace as part of a long-term agreement to supply the Airbus Legacy programme. "For Premium AEROTEC this is the start of a strategic partnership with Aequs Aerospace and reflects an important step we...
Sesa Sterlite shares end higher as Balco bags 2 coal mines
Shares of Sesa Sterlite ended almost 1 per cent higher today after the company's subsidiary Bharat Aluminium Company (Balco) bagged one more coal block in the first tranche of auction. The scrip ended the day with a gain of 0.94 per cent at INR 219.45 on the BSE. During the day, it rose by 3.24 per...
Second phase of coal auction in India postponed to March 2
The government's proccedings for the second phase of the auction of Schedule III coal blocks has been postponed till March 2. The decision is pursuant to a petition filed by Sarda Energy in Delhi High Court, and which will be heard on February 27. The auction proceedings were supposed to begin on...
OMC initiates steps to scrap bauxite mining JV with Sterlite, Hindalco
Odisha Mining Corporation (OMC) has started the process to scrap bauxite mining joint venture (JV) projects with Hindalco and Sesa Sterlite after the state government said the state-run miner can take a decision to do so. “We have sent show cause notices to Hindalco and Sesa Sterlite after the...
MRAI: Custom duties weigh heavily on scrap sales
Starting with customs duties paid for inbound scrap, metals recyclers and producers in India say their industry cannot gain momentum or even operate profitably until the government reconsiders its policies. Throughout two days of programming at the 2015 Metal Recycling Association of India (MRAI)...
Coal auctions: Balco bags one more mine in Chhattisgarh
Bharat Aluminium Company Ltd. (Balco) bagged one more coal block on the eighth day of the auction, taking the total number of mines sold so far through the ongoing auction to 18 that will generate an estimated over Rs1 lakh crore for respective states. Friday night, Hindalco Industries Ltd. had...
Indian Govt. plans to sell some shares from Nalco and other PSUs
The government is planning to sell stakes in its three blue chip companies Nalco, Bhel and NMDC after the last attempt of selling shares in IndianOil and ONGC backfired due to the sharp fall in oil prices. An estimated 10% stakes will be sold from both NMDC and Nalco, one a mining company and other...
Hindalco inches up on securing Gare Palma coal mine
Shares of industry leader in aluminium and copper, Hindalco Industries have inched up in today’s trade and are trading higher by 1.4% to Rs 154 on the BSE after it won the Gare Palma coal mine in Chhattisgarh by outbidding companies like BALCO, Sesa Sterlite, Ambuja Cements, which were also vying...
Indian Govt. plans to ease export duties to boost mining
In a bid to promote mining as a stronger business in India, the Government is planning to rationalize custom as well as export duties for major minerals like iron, manganese and bauxite ore once the coal mine auctions are concluded. The new reforms to the duty rates would most likely be announced...
ThyssenKrupp Aerospace to build aerospace materials plant in India
ThyssenKrupp Group's subsidiary ThyssenKrupp Aerospace is reportedly planning to build its first facility in Bengaluru, India. Planned to be located at Aerospace Special Economic Zone near the international airport, the 3,300m² plant will process materials and source various metals such as...
Hindalco announces Q3FY 2014-15 standalone results
Hindalco the Aditya Birla Group flagship company announced its unaudited results for the quarter ended 31 December 2014. Financials Net sales stood at Rs.8,603 crore as compared to Rs.7,273 crore in the corresponding quarter of the previous year. Profit before Interest, Depreciation and Tax...
MRAI: Bright future for nonferrous metals
Each year more vehicles pop up on roads in India and a growing number of them are produced domestically. This trend provided a reason for optimism within the Indian nonferrous metals sector, according to presenters at the 2015 Metal Recycling Association of India (MRAI) International Conference,...
Balco wins the coal block Chotia in Chhattisgarh in Tuesday’s auction
After aggressive bidding, Vedanta Group’s co-owned Bharat Aluminium Co won the Chotia mine in Chhattisgarh at the auctions held on Tuesday by the Indian Minstry of Coals, offering the highest bid of INR 3,025 per ton beating competitors like Hindalco and Ultratech Cement. The mine that boasts of...
Indian aluminium companies export more as home market slows down
Hindalco Industries and Vedanta Resources, India's two largest aluminium producers, have stepped up exports amid increasing capacity and poor domestic demand. Exports of primary aluminium from the country surged 65% in the first half of the current fiscal, according to the Centre for Monitoring...
Indian scrap prices may fall in line with global trend in February
It would seem foolish to predict anything but a fall in Indian scrap prices in line with the global trend in February. According to TSI, market participants are predicting a downward movement of around $10-15 a ton in the immediate future as the scrap industry cannot continue to play second fiddle...
Hindalco secures Kathautia coal mine in Jharkhand
Hindalco Industries secured a coal mine in Jharkhand on the second day of the auction, boosting the shares of the company significantly. Six other contenders were in competition to secure the coveted Kathautia mine in Jharkhard including Monnet Ispat & Energy, Rungta Mines, UltraTech Cement and the...
Aluminium Association of India (AAI) announces New President and Vice President
Aluminium Association of India, the apex body representing the entire spectrum of Indian Aluminium Industry, at its Governing Council Meeting held on 27th January 2015 at New Delhi elected Mr. S.K. Roongta, Chairman, Bharat Aluminium Company Limited (BALCO) as Hon. President and Mr. Satish Pal,...
Rexam secures land to expand operations in India
Rexam, a leading global beverage can manufacturer, has secured land in Sri City (55km from Chennai), Southern India, as well as in Mahindra World City, Jaipur, Northern India, to build a further two beverage can plants in addition to its existing plant in Mumbai. Each plant represents an initial...
