Vedanta Aluminium shares rise as the group denies stake-sale speculation
Vedanta Aluminium shares gained 3.32 per cent after Vedanta Resources denied speculation that it planned to sell its stake in the aluminium business, while brokerages maintained bullish views on the stock. Vedanta Aluminium came into focus after its parent, Vedanta Resources, dismissed reports and...
Vedanta Aluminium eyes next growth phase on higher volumes and lower costs
Motilal Oswal has maintained its “buy” rating on Vedanta Aluminium Metal, saying production growth, lower costs and a bigger share of value-added products could support a multi-year expansion in earnings. The brokerage has set a target price of INR 540 (USD 5.67) per share, implying potential...
Grow with
AL Circle
Vedanta to pare down aluminium making cost
<p>Metals and mining giant Vedanta is planning to revisit its cost structure keeping it optimally below $1,400 per tonne in the wake of lower costs of alumina and coal. The aluminium producer said its estimated aluminium-making cost for the September quarter stood at $1,473 per tonne, while its...
DGS rejects Indian primary producers' plea to impose safeguard duty on aluminium imports
<p>There was no immediate threat of "serious injury" to the domestic aluminium industry from the shipments of aluminium products sailing in from China and countries in South East Asia and Middle East, said Directorate General of Safeguard, India, today in its final findings on 'safeguard...
Vedanta plans to invest up to $2.9 bn to expand its alumina and aluminium capacity in Odisha, India
<p>Mining major Vedanta resources plans to invest INR 150 to 200 billion ($2.93 billion) over next three years to expand its alumina and aluminium producing capacity in Odisha, India, according to a statement made by Anil Agarwal, chairman of Vedanta Resources Plc. on the inaugural day of the...
India aluminium industry submits budget wish list, seeks duty rejig
<p>In a recent submission to the government, the domestic aluminium industry body has sought supportive measures in the next Union budget, including increase in basic customs duty on aluminium products from 7.5 per cent to 15 per cent to check rising imports and reduction of clean energy cess on...
India's alumina producers seeking anti-dumping duty exemption on caustic soda
<p>India's domestic aluminium producers have been long demanding for an import duty protection for aluminium to which the government has responded in the affirmative only very recently. Now, the likes of Vedanta Ltd., National aluminium Company (Nalco), and Hindalco have again come up with the...
Odisha likely to fail March 2017 deadline for arranging bauxite supplies for Vedanta
<p>The state government of Odisha had taken up the issue of working out local bauxite supplies for Vedanta’s loss-making alumina refinery at Lanjigarh where it had left in 2013. The state-run mining company Odisha Mining Corporation (OMC) had renewed attempts to start bauxite mining...
State-owned Mecon recommends minimum import price on India's primary aluminium
<p>After consulting domestic aluminium manufacturers, state-run engineering consultant Mecon Ltd in a recent report submitted to the ministry of mines has recommended imposition of minimum import price (MIP) on primary aluminium to guard the industry against cheap imports. <br /><br />InfraCircle...
Vedanta Resources reports highest ever half-yearly aluminium production for H1 FY2017
<p>Vedanta Resources has reported the interim results for the six months ended 30 September 2016.</p> <p>The company reports a revenue of US$4.9 billion and EBITDA of US$1.2 billion for the first half of FY2017 reporting a drop of 15% and 4% respectively compared to the same period of FY2016...
Vedanta Limited reports 9% revenue increase in Q3 2016
<p>Vedanta Limited today announced consolidated results for the second financial quarter (Q2) ended 30 September 2016.<br /><br />For the aluminium sector, smelters continued to ramp-up. The company managed to maintain the production run-rate of 1.1mtpa (excluding trial run) and 1.2mtpa (including...
Indian primary aluminium makers get Mecon to prepare a report on MIP for them
<p>India's primary aluminium producers have hired state-run engineering consultant Mecon Ltd to prepare a report exploring the possibility of introducing minimum import price (MIP) on aluminium products and approach the government with the same. <br /><br />The move was directed shortly after the...
Indian primary aluminium makers ramping up their downstream operations to pare debts
<p>Global aluminium industry has been undergoing a paradigm shift over the last ten years. From primary metal production, the focus has shifted to downstream manufacturing. In India too, the change has happened, though at a bit slower pace. All major primary aluminium producers including National...
HZL to launch specialized zinc-aluminium alloy at the International Galvanising Conference 2016
<p>Integrated mining and resource producer Hindustan Zinc Limited (HZL) is poised to lunch its specialized product- a high-end zinc die casting alloy produced using primary zinc and pure aluminium that will cater to the flourishing die-casting needs of the automobile, household appliances,...
Vedanta sets quarterly aluminium production record
<p>London’s Vedanta Resources plc released production numbers for the second quarter and first half of 2016 yesterday, reporting a record aluminium output of 296,000 metric tons for the second quarter.<br /><br />On the corporate side, highlights for the quarter included shareholder approval...
Vedanta achieves record aluminium production of 541,000 tonnes in H1
<p class="m-6114257443505482780so">Vedanta Resources published its production release for the Second Quarter and Half Year ended 30<sup>th</sup> September 2016</p> <p>During Q2 Vedanta aluminium smelters continued to ramp up with current production run-rate of 1.1 mtpa (excluding trial run...
Vedanta contemplating revival of Malco for making recycled aluminium
<p>Vedanta, the London listed mining conglomerate says it is contemplating revival of the Madras Aluminium Company (Malco) which closed shutters in December, 2008. Vedanta however ruled out the possibility of primary aluminium production in the plant. The firm says they are internally discussing...
Govt rules out minimum import price on aluminium
<p>India’s ministry of commerce and Industry has ruled out imposing minimum import price (MIP) on aluminium and is of the view that the World Trade Organization’s (WTO) non-compliant measure will tarnish the country’s image globally.<br /><br />This comes in the backdrop of the...
Cairn India shareholders approve merger of Cairn India Limited with Vedanta Limited
<p>The equity shareholders of Cairn India Limited have today approved the Scheme of Arrangement of Cairn India Limited with Vedanta Limited with requisite majority. Vedanta Limited shareholders already approved of the scheme on 9th September 2016.<br /><br />Anil Agarwal, Chairman of Vedanta...
Odisha CM assures Vedanta Chairman of regularising bauxite supply by 2016 end
<p>Anil Agarwal, Chairman of Vedanta Resources, the London-based metal and mining conglomerate, said he is hoping the issue of bauxite supply for its Lanjigarh alumina refinery will get resolved by the end of this year. Agarwal said this after meeting Odisha Chief Minister Naveen Patnaik in...
