Uno Minda plans INR 14.15bn capex as aluminium casting capacity jumps 162%
Uno Minda is set to invest around INR 14.15 billion (USD 147.51 million) across four manufacturing expansion and consolidation projects, with a major portion of the spending directed towards increasing its aluminium casting capacity in Hosur, Tamil Nadu. The automotive components maker plans to...
H1 2026 sees more renewable energy than ever: Here’s a region-by-region guide to renewable energy supply in the recent past
In the first half of 2025, humanity generated more electricity from renewables than from coal for the first time ever. What led to it? It was possible only because of two decades of falling solar panel prices, taller wind turbines, and governments finally treating clean power like an economic...
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Ex-Rio Tinto boss joins Vedanta
Miner Vedanta Resources on Monday said that it had chosen Tom Albanese, former chief executive of peer Rio Tinto, to be its chairman. "Vedanta announces that Tom Albanese is joining the group as the chairman of its subsidiary, Vedanta Resources Holdings Ltd," a statement said. Albanese stepped down...
Odisha pollution control Board clears Nalco's bauxite mining project at Panchapatmali
The Consent Committee (CC) of Odisha State Pollution Control Board (OSPCB) cleared 15 major projects. The Odisha Power Generation Corporation (OPGC) and 14 others were granted consent order. The OPGC proposed to develop coal mines of 8 MTPA along with coal washery of same capacity at Manoharpur in...
UK aluminium scrap sellers see India business plummet
UK aluminium scrap sellers have slashed the volumes they export into India following a sharp fall in the value of the rupee, with some reporting falls of up to 90% by volume. “The amount we export into India is at its lowest in five years, and that is exclusively driven by the currency killing...
Coal concerns mar Nalco's prospects
The share price of National Aluminium Company or Nalco has risen almost 40 per cent from its 10-year low of INR 24.10 seen on August 6 to INR 33.7 on the back of a rise in the global aluminium price, which is up only marginally, and a weak rupee that props up realisations. As compared to the...
Orissa bauxite reserves remain unutilized, only one reserve being functional
Orissa sits on one of the largest reserves of bauxite in India —around 2.5 billion tonnes — but its record in developing these mines or allocating them to private parties is abysmal. Of 10 identified big mines with potential reserves of around 1,489 million tonnes (mt), only one mine —...
Maoists hinder bauxite supply to Hindalco unit
Suspected Maoists have forcibly stopped the supply of bauxite from Red-hit Latehar district to Hindalco Industries' Renukut plant in Uttar Pradesh, considered one of the biggest aluminum factories in Asia. A group of rebels attacked a railway sliding site in Richughuta locality under Latehar police...
Vedanta Aluminum organized a Stakeholder Meeting
Vedanta Aluminum Ltd under its Public Relation & Corporate Social responsibility has organized a stakeholder meeting on MDM at Lanjigarh looking to several issue raising in and around country. Vedanta Aluminum Ltd has partnered with the Government of Odisha and Nandi Foundation has been serving for...
21 percent sales growth for Audi India
With the Indian economy in sheer dire straits, the four ring auto manufacturer - Audi India seems to be on a growth trajectory. The company has just shared its sales figures for the period of January to August 2013, which states that the German manufacturer has sold 6426 vehicles during this period...
Aluminium down 0.9% on global cues
Aluminium prices edged lower by 0.92% to INR 123.90 per kg in futures trade today as participants trimmed positions, tracking a weak overseas trend. Further, subdued demand in the spot markets also put pressure on metal prices. At the Multi Commodity Exchange, aluminium for delivery in October shed...
Indian aluminum cash price shoots up after two-day decline
On Monday, September 2, the day’s biggest mover was the Indian aluminum cash price, which saw a 8.6 percent increase. This increase comes after the price fell for the two previous days. At $1,817 per metric ton, the aluminum 3-month price on the LME was down 3.4 percent from the previous market...
NALCO stock gets Neutral rating
NALCO stock gets Neutral rating from Angel Broking. NALCO's aluminium segment reported a negative EBIT of INR 79cr for the quarter compared to a loss of INR 19cr in 1QFY2013. Staff costs as a percentage of net sales stood at 20.9 percent, compared to 16.5 percent in 1QFY2013 and other expenses also...
Chalco’s Aluminum Smelter closure a savior for global aluminium price
China’s Aluminum Corp of China (Chalco) decided to scrap its plans (or at least suspend them) to open a $1 billion aluminum smelter in Malaysia, according to Reuters. Since China’s aluminum market operates in a sort of vacuum from the rest of the global aluminum sector, immediate effects on prices...
Utkal-E coal block likely to be operational by December 14: Nalco
State-owned aluminium major Nalco is expecting to operationalise its much delayed Utkal-E captive coal block by December next year. Allocated to the company 9 years back, in August 2004, to meet coal requirements of four of its captive power plant, the block has failed to meet several deadlines for...
Niyamgiri tribes get support from Congress vice-president
In a move to reclaim his party’s traditional support base among tribals, Congress vice-president Rahul Gandhi is expected to visit Odisha later this month to meet villagers who recently rejected a proposal to mine bauxite from the Niyamgiri hills. “(Rahul) Gandhi will meet the tribals and celebrate...
Weak rupee encourages alumina exports in India
National Aluminium Co (NALCO), based in Bhubaneswar, India, is planning to raise its alumina output by 19% and its alumina exports by 40% for this fiscal year, in a bid to increase dollar inflow into India’s weakening economy. With the recent decline in the value of the rupee, Asia’s third largest...
Norsk Hydro and Sapa complete aluminum extrusion joint venture
The transaction to combine Norsk Hydro's aluminum extruded products business area and Orkla's Sapa into a 50:50 joint venture has been completed as planned, the two Norwegian companies said Monday. Last October, the two companies announced a proposed joint venture which would own and operate the...
RBI allows NRIs to buy shares in Tai Indus, Madras Aluminium
The Reserve Bank today allowed non- resident Indians ((NRIs) to purchase shares in Tai Industries and Madras Aluminium Company as the total shareholding by NRIs in them has gone below the threshold limit. "...the aggregate share holdings by NRIs/Persons of Indian Origin in Tai Industries and Madras...
Hindalco sees stagnant profit growth during Q2 despite higher metal volumes
Hindalco is the latest to see stagnant profit growth despite higher metal volumes in the second quarter (Q2). Its Q2 net profit remained flat year-on-year (y-o-y) at Rs 357 crore. While lower other income is a factor for the sequential fall in net profit, lower realisations and higher costs have...
