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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No plan to shut down Lanjigarh refinery: VAL
The Vedanta Aluminium Ltd (VAL) has no plans to shut down its one million tonne alumina refinery at Lanjigarh, which is currently facing acute shortage of raw material to run the plant. "We have no plans to shut down the refinery. We are running the refinery with depleted stock of bauxite. The...
Vedanta raises its Hindustan Zinc, Balco Bid offers to $3.93 Billion
Vedanta Resources Plc. (VED), controlled by billionaire Anil Agarwal, will raise its offer to increase its stakes in Hindustan Zinc Ltd. (HZ) and Bharat Aluminium Co., seeking control of bauxite mines and India’s biggest zinc maker. The company will ask for shareholder approval on Aug. 28 to offer...
VAL employees appeal to save Lanjigarh plant
Hundreds of VAL employees demonstrated before the main gate of Vedanta Aluminium Limited (VAL) at Lanjigarh on Wednesday as their future appears to be in the dark. They appealed to Chief Minister Naveen Patnaik to save the industry from closure. On the one hand, the stiff opposition by the tribal...
Despite Production Cutbacks by global smelters, Nalco takes up expansion projects
Continued from Part One. (http://www.alcircle.com/NewsDetails.aspx?center=NC&recId=12612) President of Vedanta Aluminum Ltd, India’s numero uno aluminum producer, Mukesh Kumar, told Reuters that due to the closure of some of the aluminum smelters in the US, the demand had improved marginally....
Vedanta Raises Bid for Hindustan Zinc, Balco
U.K.-based diversified miner Vedanta Resources PLC has raised its offers to buy the Indian government’s entire stakes in two of its subsidiaries, Hindustan Zinc Ltd. and unlisted Bharat Aluminium Co. Ltd., or Balco. Vedanta, in a note to shareholders, said it has increased its offer for the Balco...
Vedanta to close Lanjigarh plant: blame bauxite shortage
Vedanta Aluminium, which runs a 1 million tonne alumina refinery in Orissa’s Kalahandi district, may shut down within a fortnight due to acute shortage of bauxite. The refinery at Lanjigarh block has been going through an ore supply crisis after the environment ministry in August 2010 withdrew the...
Vedanta expects India's aluminium export to rise 5 pct
India's aluminium exports could rise 5 percent in the current fiscal year to 325,000 tonnes, despite a slowdown in global demand, a senior industry official said, as falling prices have led rival global producers to cut production. Declining aluminium prices have forced major players such as Alcoa...
Sterlite Industries Updates on Scheme of Amalgamation and Arrangement
Sterlite Industries (India) Ltd has informed BSE that the Hon''ble High Court of Madras has admitted the Petition filed by the Company in relation to the Scheme of Amalgamation and Arrangement amongst the Company, The Madras Aluminium Company Limited, Sterlite Energy Limited, Vedanta Aluminium...
Sterlite Industries updates on Vedanta Aluminium Limited
Sterlite Industries India Limited announced the production of Vedanta Aluminium. During Q1, Lanjigarh refinery produced 218,000 tonnes of alumina with bauxite from BALCO and third party purchases. Aluminium production at Jharsuguda was 11% higher at 124,000 tonnes as compared with corresponding...
India's Vedanta ups Q1 aluminium production by 7%
Indian miner Vedanta Resources' total aluminium production was up 7% for the first quarter of its 2013 financial year at 185,000 mt, from 173,000 mt in the previous quarter, the company said Tuesday. "Production at the Jharsuguda-I 500,000 mt smelter was 11% higher at 124,000 mt. The BALCO-II...
Angel Broking updates on Sterlite Industries' first quarter results
Sterlite Industries' (Sterlite) 1QFY2013 net profit was higher-than expected mainly due to lower-than-expected tax rate. We recommend Accumulate rating on the stock. Top-line growth driven by copper and power segments: For 1QFY2013, Sterlite reported consolidated net sales growth of 7.8% yoy to...
Balco to spend Rs 2.5 crore to upgrade basic amenities of a Chhattisgarh village
A village in Chhattisgarh housing the indigenous tribals once living without cloths will get a new lease of life with a project soon going to take off to transform it into a model settlement. On the initiative of the Kabeerdham district administration, Vedanta-controlled Bharat Aluminium Company...
BALCO caught in a land hurdle in Chhattisgarh
Vedanta-controlled Bharat Aluminium Company Limited (Balco) is heading for a fresh trouble as a complain petition has been filed in the court seeking investigation into the land given to it by the Chhattisgarh government allegedly at a throw away price. The complain petition under section 156(3) of...
Vedanta's MALCO Aluminium sold 57,921,364 shares at Rs 9.50 on the BSE
On July 18, 2012 BNP Paribas Arbitrage has bought 69,000,000 shares of Future Ventures India at Rs 9.50 on the BSE. However, The Madras Aluminium Company limited sold 57,921,364 shares at Rs 9.50 on the BSE. At 13:55 hrs the share was quoting at Rs 8.70, down Rs 0.13, or 1.47%. It was trading with...
Sesa Goa appeals to state Govt. for lifting of ban on ore transportation
Sesa Goa Limited, a subsidiary of Vedanta group, has written to the state government seeking to lift ban on transportation of iron ore during monsoon, which has resulted in drying up of their raw material required to run two of their plants. In a letter to District Collector (South) N D Agarwal...
Indian Aluminium biggies avoid output cut depite the present global trend
Despite the benchmark aluminium price on the London Metal Exchange (LME) falling below cost of production, metal producers in India are avoiding output cut at least for the current fiscal amid hope of revival in its price in the second half of the year. This is important in view of the global...
Vedanta's Agarwal slams govt for slow divestment process
Vedanta may not revise its Rs 17,000-crore offer to buy the government's stake in Hindustan Zinc (HZL) and Bharat Aluminium Company (BALCO) adding that the valuation was concluded as per the agreement signed at the time of acquiring majority stakes in the two firms. Vedanta chairman Agarwal also...
Indian companies getting high premiums despite low aluminum price
Vedanta Resources said it has sold 3,000 tonnes of aluminium ingots at a premium of $220 a tonne over the London Metal Exchange (LME) price in the Asian market. India's state-run National Aluminium Company (Nalco) has also sold 8,000 tonnes of aluminium ingots at a premium of $202.80 per tonne...
