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 proposed Government of India stake purchase to reduce refinancing risks: Fitch
Fitch Ratings says that Vedanta Resources Plc`s proposed USD 3.4 billion purchase of the Government of India`s (GoI) shares in Hindustan Zinc (HZL, 29.5%) and Bharat Aluminium Company (Balco, 49%) could reduce refinancing risks. Fitch notes that additional funding for the GoI stake acquisition will...
Posco, Vedanta get more time for SEZ projects in Orissa
The government has given more time to 13 special economic zone developers, including Vedanta Aluminium and Posco India, to execute their projects. At a meeting on March 13, the Board of Approval (BoA) headed by Commerce Secretary Rahul Khullar also allowed four SEZ developers to surrender their...
Vedanta to Indian government: $3.4 billion for Bharat Aluminium and Hindustan Zinc
London-based Indian metals and mining company Vedanta Group has offered INR170 billion ($3.4 billion) to buy the Indian government's remaining stakes in Hindustan Zinc and Bharat Aluminium, according to Vishwapati Trivedi, secretary at the Ministry of Mines. Purchasing the stakes will give...
Vedanta offers Rs16,000 cr for HZL, Balco stakes
London-based Vedanta Resources Plc. has offered nearly Rs16,000 crore for buying the government’s residual stakes in Hindustan Zinc Ltd, or HZL, and Bharat Aluminium Company, or Balco, at a time when the government is hard pressed to raise funds to reduce its fiscal deficit. Analysts said the deal,...
Odisha: Vedanta Aluminium observes 41st National Safety week
Jharsuguda: As a part of its continuing effort to promote and inculcate safety consciousness among the plant personnel, 41st National Safety week was observed today here at the premises of Vedanta Aluminium Ltd (VAL) Jharsuguda. On this occasion, safety related programmes were conducted in which...
Fitch places Vedanta Aluminium on RWP on proposed merger
Fitch Ratings has placed India-based Vedanta Aluminium Ltd's (VAL) National Long-Term Rating of 'Fitch A-(ind)' on Rating Watch Positive (RWP). A complete list of rating actions is provided at the end of this commentary. The rating actions follow Vedanta Resources Plc's (VRPLC, the parent, Issuer...
Sterlite offers Rs 16,000-cr to buy Govt’s stake in HZL, Balco
Sterlite Industries has offered Rs 16,000 crore to buy out government’s stake in Hindustan Zinc and Balco, almost a decade after Anil Agarwal-led firm acquired majority holding in zinc and aluminium producers. The offer was made in January but Vedanta Resources, the parent company of Sterlite, is...
Vedanta Aluminium's expansion plans may face fresh delay
Vedanta Aluminium Ltd's (VAL) plans to expand the capacity of its unit in Lanjigarh in Orissa is likely to face further delay with the Government asking the company to seek fresh public consent, as part of the new terms it has to meet to get the environment clearance. VAL, a subsidiary of the newly...
Vedanta Aluminium seeks waiver of public hearing for Lanjigarh project
Vedanta Aluminium Ltd has sought a level playing field by seeking a waiver on public hearings on grounds that they were conducted twice - in 2003 and 2009 - to build the refinery and smelter. The union ministry for environment and forest had early last month asked the Anil Agarwal-owned company to...
Alcoa in talks with Indian companies to sell surplus alumina
US-based Alcoa has opened talks with some Indian companies to sell surplus alumina, signalling the intention of the world's third largest aluminium producer to increase presence in India. With an output of 16 million tonnes a year, Alcoa is the world's largest alumina producer. The company entered...
VAL a headache for Vedanta Resources
If Vedanta scrapped its 2008-initiated ambitious restructuring based on business verticals, it was primarily due to two reasons: the valuation of Africa’s Konkola Copper Mines (KCM) and a slowdown that had begun to plague the economy. Four years later, the metals and mining company is back with...
Vedanta Aluminium says losses are short-term
As share prices of both Sesa Goa and Sterlite plummeted today, after Vedanta announced the merger of its loss-making entity Vedanta Aluminum Ltd (VAL) into the newly-formed company Sesa Sterlite, the Jharsuguda-based VAL said the losses were only short-term and linked to the fluctuation in metal...
Vedanta told to get public nod in Orissa for expansion
Vedanta Aluminium Ltd has been asked by the government to seek public consent afresh in Kalahandi district of Orissa as a precursor to getting environmental clearance for expanding its alumina refinery and power plant, a move the company wants to avoid as it seeks to get a plan that’s been stalled...
India’s National Aluminium Co (Nalco) is open to bids for alumina from Vedanta Aluminium, according to Nalco chairman BL Bagra
Bagra was speaking after a senior official from Vedanta Aluminium told Metal Bulletin that Nalco always rejected its bids, even when it believed it was offering the highest price. Vedanta Aluminium, which operates a 500,000-tpy aluminium smelter at Jharsuguda in Orissa, has not been able to source...
Vedanta Aluminium says losses are short-term
As share prices of both Sesa Goa and Sterlite plummeted today, after Vedanta announced the merger of its loss-making entity Vedanta Aluminum Ltd (VAL) into the newly-formed company Sesa Sterlite, the Jharsuguda-based VAL said the losses were only short-term and linked to the fluctuation in metal...
Vedanta Eyes Streamlined Structure With Merger Plan
Vedanta Resources plans to simplify its structure by placing all but one of its subsidiaries under the umbrella of a single unit, as part of a efforts to cut costs, improve access to cash and reduce the India-focused miner's debt burden. FTSE-100 diversified miner Vedanta, which has underperformed...
Vedanta Resources group may merge iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries
The Vedanta Resources group may merge iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries as it tries to simplify a complex corporate structure and deal with challenges to its main businesses. The exercise, which is still on the drawing board, will create agiant metals and...
Villagers protest VALs pond extension works
The imbroglio surrounding extension of red mud pond of Vedanta Aluminium Ltd. (VAL) in Lanjigarh seems to be getting murkier with each passing day. Even as 47 villagers of Rengopali who were arrested for protesting the work have been released, people of the village continue to protest. In the last...
