$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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Goa Carbon Ltd looking for overseas expansion options
Goa Carbon Ltd is in expansion mode, looking for opportunities overseas even though their last attempt to set up a greenfield calcined petroleum coke (CPS) project in China to produce 300,000 mt per annum could not be commissioned. With clients like Hindalco and Vedanta looking to expand, Goa...
Nagpur institute inks pact with MIT
City-based Jawaharlal Nehru Aluminum Research Development and Design Centre (JNARDDC) on Thursday signed an MoU with the Maharashtra Institute of Technology (MIT), Aurangabad to promote scientific and technological education, and research and development in the region. The MoU was signed by the...
Delhi High Court halts final bidding for 3 CGH blocks
The Delhi High Court Thursday directed the Union government not to conduct final bidding till February 18 for three coal blocks in Chhattisgarh, for which Sarda Energy and Minerals Ltd has submitted its initial price offer on its plea challenging the two-phased auction process in which half of the...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.22 per cent to INR 113.85 per kg in futures trading today as speculators reduced positions amid weak global cues. Further, subdued demand in the domestic spot markets weighed on the prices of the metal. At the Multi Commodity Exchange, aluminium for delivery in current...
Nalco jumps after strong Q3 outcome
National Aluminium Company rose 4.55% to INR 51.75 at 9:21 IST on BSE after net profit surged 170.52% to INR 354.47 crore on 16.6% growth in total income to INR 2057.61 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 10 February 2015....
Hindalco Q3 profit seen up 26% to Rs 420 cr
Aluminium major Hindalco Industries will announce its third quarter earnings on Thursday. Profit after tax is expected to increase 26 percent year-on-year to Rs 420 crore led by strong revenue and operating income, according to a CNBC-TV18 poll. However, higher depreciation and interest costs may...
Aluminium futures weaken on global cues
Amid a weak trend in base metals at the London Metal Exchange, aluminium prices fell by 0.56 per cent to INR115.20 per kg in futures trading today as speculators trimmed positions. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity...
Coal Ministry of India receives 69 applications from PSUs for 36 coal blocks
As Indian government has opened application submission for coal blocks allocation, a number of state owned companies have aggressively put up applications for coal blocs. NTPC, one of largest the public sector undertaking for power generation has put in eight applications for coal blocks. States...
NALCO Q3 profit may surge 167% to Rs 350 cr
National Aluminium Company's (NALCO) third quarter profit may jump 167 percent year-on-year to Rs 350 crore on strong operating income, according to the average of estimates of analysts polled by CNBC-TV18. Total turnover grew 17 percent to Rs 1,920 crore from Rs 1,644 crore during the same period....
Indian Govt to look into import duty on scrap, FTAs
The mines ministry will look into the issue of import duty on scrap, special additional duty and trade pacts with countries, Union minister Vishnu Deo Sai said on Thursday. The Metals Recycling Association of India said that metal recycling has been badly affected by heavy import duty, special...
Indian Mines Ministry extends leases of govt firms
Ahead of auction of non-coal minerals, the Mines Ministry has extended the leases of government companies which had applied for renewal in time. An order of the ministry has said that in exercise of the power to remove difficulties in the MMDR Amendment Ordinance, “the tenure of the mining leases...
Sesa Sterlite still awaits bauxite linkage
The Sesa Sterlite Limited’s (previously Vedanta Aluminium Limited) Rs52,000-crore investment in Odisha is the largest on ground investment made by any company in the State ever. Still, the future of the project is hanging fire owing to the delay in policy decision mechanism of the State Government....
Aluminium sheds by 0.4% on global cues
Aluminium prices traded marginally down by 0.39% to INR114.90 per kg in futures trading today as speculators reduced exposure amid a weak trend overseas and sluggish demand from consuming industries in the spot market. At the Multi Commodity Exchange, aluminium for delivery in February shed 45...
ICRA suggests aluminium producers to focus on the export market
The ICRA declared that to ensure healthy capacity utilization of the newly commissioned greenfield projects, primary producers will need to focus on the export markets. The energy costs remain a key factor in the primary aluminium production and since the Supreme Court de-allocated some of the coal...
Aluminium players expected to bid aggressively for coal blocks
Facing shortage of fuel and raw material, domestic primary aluminium players are likely to bid for captive coal blocks aggressively in the upcoming auctions, credit rating agency ICRA said today. Their "operational challenges" stem from the deallocation of coal blocks allotted to them earlier and...
Sesa Sterlite announces third quarter financial results
Sesa Sterlite Limited today announced its unaudited consolidated results for the third quarter (Q3) ended 31 December 2014. Financial Highlights: • Q3 FY2015 Revenues at Rs. 19,128 crore • EBITDA at Rs. 6,234 crore; EBITDA margin of 43%1 • Attributable PAT excluding exceptional items at Rs. 1,588...
Nalco sets up the first and largest rooftop solar project in Bhubaneshwar
On Wednesday, National Aluminium Company (Nalco) commissioned a 160-KWp rooftop solar project at the corporate office located in Bhubaneshwar. The State Union Minister for Steel and Mines, Vishnu Deo Sai, inaugurated the project in presence of Ansuman Das, the Nalco CMD. The INR 1.25-crore project...
Orissa's bid to reopen mines faces legal challenge
The Indian provincial government of Orissa’s bid to renew mining leases through the auction route has hit a roadblock with courts preventing the government from taking any final decision before the legal challenge is heard. After a preliminary hearing, the Orissa High Court passed an interim order...
