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 seeks alternative mine for Lanjigarh refinery
After failing to get local gram panchayats’ nod for mining bauxite in Niyamgiri hills, Vedanta Resources is now engaging with the Odisha government for allotment of mines elsewhere besides considering procuring bauxite from alternative sources. The Niyamgiri hill area is one of the sources in...
Vedanta's Lanjigarh expansion plan sees revival hopes
Odisha State Pollution Control Board will hold public hearing of the much-delayed project at Lanjigarh on July 30 The controversial project of Vedanta group to expand Sesa-Sterlite's Lanjigarh refinery is set to revive with Odisha deciding to undertake public hearing of the project later this...
Government initiates valuation process for Balco stake sale
Going ahead with the residual stake sale in Balco, the government on Thursday started the process of valuation of its 49 per cent stake in the company. The Department of Divestment (DoD) has invited proposals from merchant bankers or chartered accountant firms with experience in handling valuation...
Sesa-Sterlite to focus on bauxite sourcing, Goa mining this fiscal
Tom Albanese, the newly appointed chief executive officer of Sesa Sterlite, has identified sourcing bauxite for its aluminium operations and resumption of mining in Goa as some of his top operational priorities for the current fiscal, in the company's annual report for 2013-14. Sesa Sterlite, the...
Vedanta seeks SEZ sops to run aluminium plant
Sesa Sterlite Ltd (SSL), a unit of London listed mines and metals major Vedanta Resources Ltd, has urged the Odisha government to extend the benefits under the state's SEZ (Special Economic Zone) policy to run its idle aluminium SEZ at Jharsuguda. It may be noted that the state government had...
Vedanta hopeful of using IPP power for smelter
Anil Agarwal controlled Vedanta Resources Ltd said it is hopeful of getting the Odisha government’s nod to use power from group owned Sesa Sterlite’s 2400 Mw coal based plant to run its aluminium smelter complex at Jharsuguda. “We have 3,600 Mw power generating capacity at Jharsuguda (including...
Vedanta hopeful of state resolving bauxite issue
Vedanta Group chairman Anil Agarwal met Chief Minister Naveen Patnaik on Wednesday and sought his intervention in resolving the issue of supply of bauxite to Lanjigarh alumina refinery in Kalahandi district. “The Chief Minister assured us that the State Government is giving top priority to bauxite...
Vedanta Resources plc rating lowered to neutral at Goldman Sachs (VED)
Vedanta Resources plc was downgraded by investment analysts at Goldman Sachs to a “neutral” rating in a note issued to investors on Tuesday. They currently have a GBX 1,000 ($16.82) target price on the stock. Goldman Sachs’ target price would suggest a potential downside of 5.57% from the company’s...
Vedanta puts Lanjigarh alumina refinery expansion on hold
Vedanta Resources has put on hold a five-fold expansion plan of its Lanjigarh refinery in Odisha even as it is mulling sourcing bauxite from other sources away from Niyamgiri Hills to feed existing and future operations. “With regard to the expansion project at Lanjigarh, the company’s fresh...
Vedanta shelves Odisha bauxite mining plans till it wins local approval
Billionaire NRI Anil Agarwal-led Vedanta Resources has made it clear that it will not look at mining bauxite from the Niyamgiri hills to feed its Rs. 5,000 crore Lanjigarh alumina refinery in Odisha until it gets approval from the local community. "In deference to the sentiments of the community,...
Sesa Sterlite produces 794000 tonnes of aluminium in FY 2014
Sesa Sterlite has come out with its production for the fourth quarter and financial year ending 2014. The company has reported that the total Aluminium production for FY 2014 was 794000 tonnes in financial year ending 2014, compared to 774000 tonnes in the year 2013. Alumina production was 524000...
Odisha government may reject Vedanta's plea to use IPP power for smelter
The Odisha government is unlikely to consider the plea of Vedanta Aluminium Ltd (VAL) to use power generated by Sterlite Energy Ltd, also a Vedanta Group firm, to run its smelter complex at Jharsuguda. The company had argued that since Odisha had turned power surplus, sparing 600 Mw out of...
Odisha to sign fresh MoU with Sesa Sterlite
The Odisha government is taking steps to sign a fresh Memorandum of Understanding (MoU) with Sesa Sterlite Ltd, after the merger of Vedanta Aluminium Ltd (VAL) with it. The move comes after the state law department advised the industries department to substitute the earlier MoU with a fresh one...
Pollution Control Board finds nothing objectionable in functioning of the Vedanta's Lanjigarh alumina refinery
The Odisha Pollution Control Board (OPCB) has found nothing objectionable in the functioning of the Vedanta Aluminium Limited in Lanjigarh of Kalahandi district. An on- the- spot enquiry of the unit by Assistant Environment Engineer D Sethi observed nothing objectionable from the environmental...
Tom Albanese appointed as Vedanta CEO
Indian diversified miner Vedanta Resources has appointed former Rio Tinto ceo Tom Albanese as its new chief executive Albanese left Rio at the beginning of 2013 after a tough year for the company in 2012, in which it reported $14 billion of writedowns. He will take over as ceo of Vedanta and join...
Balco stake sale gets nod
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved residual stake sale by the government in Vedanta-owned Bharat Aluminium Company (Balco). The move could fetch about Rs 3,000 crore to the exchequer at a time when the finance ministry is trying hard to contain the Centre's...
Balco, HZL stake sale may happen only next fiscal
The government's plan to sell its residual stake in Hindustan ZincBSE 0.48 % (HZL) and Bharat Aluminium Company (Balco) may be pushed to next fiscal if the mines ministry continues to dither on the processes for stake sale due to ongoing investigations . Last week, an inter-ministerial group...
Sesa Sterlite’s Q3 profit beat the estimates
Sesa Sterlite Ltd, India’s biggest zinc and aluminium maker, beat Q3 earnings estimates as metal and oil output rose. Billionaire Anil Agarwal’s company said it will focus on reducing debt. Net income was Rs.18.7 billion in the three months ended 31 December, the Panaji, Goa-based unit of Vedanta...
