Vedanta Aluminium brings 4 AI Control Towers into logistics, safety and plant maintenance
Vedanta Aluminium is using artificial intelligence (AI) and other digital tools across its operations as part of its efforts to improve day-to-day decision-making, logistics, safety and equipment monitoring. At BALCO in Korba, Vedanta Aluminium has introduced four AI-enabled Control Towers to keep...
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...
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Vedanta's cumulative loss on Odisha refinery crosses INR 4,000 cr
Diversified metals and mining major Vedanta Ltd has incurred a cumulative loss of INR 4299 core (till October end) on its one million tonne Lanjigarh alumina refinery since the beginning of commercial operations in August 2007. Though Vedanta recently de-rated capacity of the refinery by 50 per...
Vedanta seeks Indian government's help to tide over raw material crisis
Faced with acute raw material shortage for its refinery at Lanjigarh in Kalahandi district, the Vedanta Group on Tuesday requested the Odisha Government to honour the MoU which assures supply of 150 million tonnes of bauxite for its processing facility in the State. Chief Operating Officer (COO) of...
Vedanta to cut costs by 25% amid global slump
Vedanta Resources Plc, India’s biggest producer of aluminium, copper and zinc, plans to cut costs by as much as 25% as it battles a global slump that sank industrial metal prices to a six-year low, chairman Anil Agarwal said. The London-listed mining firm will “tighten” capital spending and “do...
Indian Government mulling import duty rise for aluminium
The government is considering raising import duty on aluminium products by as much as five per cent, among other policy measures, to tackle unabated import of cheap products adversely impacting the sector. "Domestic industry is going through tough a time. Some firms have approached the Directorate...
Vedanta may scale back expansion on soft aluminium prices
Lukewarm aluminium prices at the London Metal Exchange (LME) has prompted diversified metals major Vedanta to hold back a plan to scale up its smelter capacity at Jharsuguda in Odisha from 0.5 million tonnes per annum to 0.8 mtpa. Earlier this month, LME aluminium prices went below $1,500 a tonne...
Indian aluminium set to lose global cost advantage
Aluminium producers in India, raising prices to compensate for the expensive coal they have to buy from the open market after losing captive coal blocks in a Supreme Court order last year, may be turning uncompetitive in the global market, said analysts. The situation is expected to worsen once...
Vedanta rating increased to "Buy"
Vedanta was upgraded by an international investment research firm from a “sell” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $6.25 price target on the stock. The firm's price objective indicates a potential upside of 12.82% from the stock’s previous close....
India can become engine of global economic growth, says Vedanta Chairman
Pinning hopes on the Narendra Modi government for policy reforms to attract investment, mining baron Anil Agarwal on Friday said India has the potential to become the "engine of global economic growth". "As the world is changing, the Indian government... should move towards faster decision-making,...
Vedanta group's Balco inaugurates new coal mine
Bharat Aluminium Company Limited (Balco), a subsidiary of Vedanta Limited, inaugurated its Chotia coal mine on November 3, 2015. The mine was allocated to Balco in February this year after the company emerged as the highest bidder for it in the first phase of coal auction. Balco has projected three...
"We are making all efforts to keep our operations running… resorted to closure only after exhausting all other viable options," Dr Mukesh Kumar, President & Group Head - Technology & Innovation, Vedanta Limited
Vedanta Limited, a Vedanta Group company is one of the world's largest global diversified natural resources company, with operations across zinc-lead-silver, oil & gas, iron ore, copper, aluminium and commercial power. To remain competitive in the recent global melt down condition due to low metal...
Aluminum climbs as Alcoa shrinks capacity on China export deluge
Aluminum notched higher after Alcoa Inc., the largest U.S. producer, announced reductions in smelting and refining capacity, in a latest response to Chinese export deluge that have created a global surplus and driven prices to the lowest level in more than six years. The metal used to make...
Vedanta reports strong cash flows in a challenging commodity price environment
Indian miner Vedanta Limited (formerly known as Sesa Sterlite Ltd) has announced its unaudited consolidated results for the second quarter ended 30 September 2015. Revenues stood at INR 16,349 crore and a cash flow of INR 7,145 crore was generated despite a challenging commodity price environment...
Vedanta wins the ‘Excellence in Corporate Governance’ Award by the IOD
Vedanta Limited, India’s only diversified natural resources company, with global assets has been awarded the ‘Excellence in Corporate Governance Award' instituted by the Institute of Directors(IOD), India. This Award recognizes Vedanta’s commitment as an organization to the high standards of...
Govt of India may double aluminium import duty to 10%
The government of India is considering a move to double 5 per cent import duty on aluminium in a bid to salvage Rs 1.2 lakh crore of bank-financed capex investments by domestic players like Vedanta and Hindalco, and protect the 7.5 lakh jobs jeopardized by cheap imports that have captured well over...
Vedanta: Tom Albanese to continue as the group CEO
Vedanta has described recent media speculation about senior management changes as completely baseless. It says that Tom Albanese will continue to drive the Vedanta business and serve as the group CEO. Cynthia Carroll, who joined the group in September this year, will advise the chairman's office on...
Odisha wants Niyamgiri gram sabha polls again to revive bauxite mining
To revive the beleaguered Niyamgiri bauxite mining project in south Odisha, the state government has written to the Union ministry of environment and forests, proposing that gram sabhas in the area be again polled for approval. The mining plan was scrapped two years earlier, after all 12 gram...
Vedanta shares rise on strong production figures in Q3 2015
Shares of mining major Vedanta zoomed over 11 per cent after it reported strong zinc, silver and aluminium production in the September quarter. The company also reported lower production costs in zinc and aluminium. The company's alumina output increased at its Lanjigarh plant, up 20 per cent...
Odisha government lists bauxite reserve for auction
The Government of Odisha has included one bauxite reserve (Ballada in Koraput district) among the list of 12 mines to be auctioned in the first phase. Earlier, the state government enlisted only iron ore, manganese and limestone mines for auction. The move assumes significance as Vedanta Limited...
