$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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Indian aluminium maker announces 100 MW wind energy project days after its coal mine is cancelled
Indian government-owned companies seem to have embarked on a hyperdrive to implement renewable energy projects. The aggressive capacity addition plans are reportedly backed by the central government, which aims to boost the existing renewable energy policies. Just last month, Coal India Limited,...
Alcoa opens world’s largest aluminum-lithium aerospace plant in Indiana
Expansion to Capture Rapid Aluminum-Lithium Demand Growth • $90 million advanced manufacturing facility is largest of Alcoa’s three aluminum-lithium expansions • $100 million in revenues for 2017 already contracted • Growing demand for advanced aluminum-lithium alloys for lighter, more...
Aluminium down 0.6% on overseas cues
Aluminium futures fell 0.58% to INR120.70 per kg today as speculators trimmed positions amid a weak trend at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in November lost 70 paise, or 0.58%, to INR 120.70 per kg, with a business turnover of five lots. The metal...
Aluminium futures weaken on global cues
Aluminium futures today traded 0.38 per cent lower at INR 118.75 per kg as speculators reduced their positions amid weak global cues. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in October eased by 45...
Nalco to invest Rs 660 cr on 100 MW wind power plant
National Aluminium Company (Nalco), the navratna public sector undertaking under ministry of mines, plans to set up a 100 Mw wind power project with an investment of Rs 660 crore. “The project will be set up shortly at a suitable location in India”, Ansuman Das, chairman cum managing director (CMD)...
Nalco to file review petition in SC over quashing of coal blocks
Stung by the recent Supreme Court (SC) order, which quashed allocation of 214 coal blocks across the country, National Aluminium Company (Nalco) said it is mulling to file a review petition in the apex court to reconsider its case for Utkal-E, a coal block awarded to the aluminium major that now...
Aluminium marginally up on global cues
Aluminium futures traded a shade higher at Rs 118.55 per kg today as participants strengthened their positions, supported by an upward trend overseas. Further, rising demand in the domestic spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in...
Nalco announces INR 387 crore dividend and further expansions
On September 27, the CMD of Nalco, Ansuman Das announced a dividend of INR 387 crore for the 2013-14 fiscal. The announcement was made in a press meet after the 33rd Annual General Body meet. Das explained that the aluminium market was picking up globally due to global cutbacks and the positive...
Hindalco chairman outlines the progress of Hindalco this year
Hindalco chairman, Kumar Mangalam Birla announced on Wednesday that they will double their alumina and aluminium capacity after their mega-expansion plans are complete. He also added that their consolidated capital expenditure amounted to $1.5 billion. Adressing the 55th annual Aditya Birla Group...
Vedanta Resources celebrates ten-year anniversary of LSE listing
Anil Agarwal, Group Chairman, Vedanta Resources Plc and Tom Albanese, Group CEO, Vedanta Resources Plc opened the market at the London Stock Exchange today to celebrate ten years of Vedanta's main market listing, confirming the Group's long-term commitment to its listing on the London Stock...
Aluminium futures rise on global cues, spot demand
Aluminium prices went up by 0.30 per cent to INR 118.55 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas. Further, pick up in demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for...
Naidu’s tough fight to make Andhra Pradesh a key center for aluminium
Andhra Pradesh can become a key center for alumina and aluminium production if the state’s natural resources can be adequately utilized, ranking second only to Odisha. India has bauxite resources of nearly 3.48 billion tonnes of which 18 percent belongs to Andhra Pradesh. However, constant...
Vedanta to expand alumina production despite many obstacles
The Chairman of Vedanta Resources, Anil Agarwal recently announced that he is going to raise the production in his Lanjigarh alumina refinery, from its current capacity of one million tonne to two million tonne in a year and has plans to push that to six million tonne gradually. He also plans to...
TDP expresses their interest in bauxite mining in Vishakhapatnam agency regions
When the Telengana Desam Party was in opposition, they opposed bauxite mining in the agency areas of Vishakhapatnam, now the same people are showing interest in mining prospects. The Andhra Pradesh Minister of Mines and Geology, Peethala Sujatha said that if the Central grants their approval for...
To help Vedanta, Orissa nudges Centre for Karlapat bauxite mines
Orissa chief secretary on Wednesday urged the Union mines ministry to reserve Karlapat bauxite mines in Kalahandi for the state-owned Orissa Mining Corporation. This comes a week after Vedanta Resources chief Anil Agarwal met chief minister Naveen Patnaik seeking his help for bauxite mines for the...
Nalco jumps on bargain hunting
National Aluminium Company rose 6.94% to INR 64.75 at 11:50 IST on BSE on bargain hunting after the stock fell 8.47% in the preceding three trading sessions to INR 60.55 on 16 September 2014, from a recent high of INR 66.15 on 11 September 2014. Meanwhile, the BSE Sensex was up 98.47 points, or...
Indian aluminium sector grows following global cues
Indian aluminium industry is gaining strength in the past two weeks as the aluminium prices move forward and the international market is gaining ground, enough to make the Indian aluminium sector to start participating in the global aluminium market. Breaking out of the dismal average price-per-ton...
Jharkhand govt shuts 5 Hindalco bauxite mines
The Jharkhand government has shut five bauxite mines of Hindalco Industries, flagship company of the Aditya Birla Group. This follows a report by the Shah commission on illegal mining, which had alleged such mining was causing widespread damage to the environment and losses to the exchequer....
