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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Sterlite favours mutually agreed price for buyback
Vedanta group company Sterlite has favoured a mutually agreed price for buying back the Government's residual stake in aluminium company Balco. For Hindustan Zinc, it has requested adoption of the formula devised by the Securities and Exchange Board of India's (SEBI). At present, the Government has...
Aluminum May Rise to Six-Month High This Quarter on Demand, Vedanta Says
Aluminum prices may rise to as much as a six-month high by the end of the quarter as processing companies replenish inventory to meet a rebound in demand, said Vedanata Resources Plc (VED), India’s biggest producer. Prices may climb to as much as $2,300 a metric ton on the London Metal Exchange by...
Sterlite Industries ready to pay mutually agreed price for Balco stake
Sterlite Industries will offer to buy the government's 49% stake in group company Balco at a mutually agreed price outside of an earlier call option plan, as both parties are keen to resolve stake-sale talks deadlocked for a year. If Sterlite's proposal is accepted, it will complete the Anil...
Vedanta's Orissa alumina refinery facing bauxite shortage
The one million tonne per annum capacity refinery at Lanjigarh, some 600 km from here, has been running at about 50 percent of its capacity since it was commissioned in August 2007. There are multiple reasons for this, Kumar said. "Several mines in Orissa and Andhra Pradesh have stopped operations...
Odisha: 30 lakh’s Aluminum loaded truck has been hijacked
Once again an aluminum wire loaded cargo truck has been hijacked by robbers on Sambalpur –Rourkela Express highway .This type of incidents are happening again & again in this industrial corridor route. This time the materials in the truck was about 30 lakhs .Till now after after Three days the...
Sterlite Industries may be asked to buy residual government stake in Balco
The government will soon ask Sterlite Industries to make an offer to buy out its residual 49% stake in Bharat Aluminium Company Ltd, or Balco. Sterlite had acquired 51% stake in the company in a strategic sale by the government in 2001 for Rs 551 crore. "A formal proposal is being sought from...
Vedanta, Andhra co to source GMDC bauxite
Vedanta Resources and Vishakhapattanam-based AnRak Aluminium limited will source 3 lakh tonnes bauxite from Gujarat Mineral Development Corporation's Gadhshisha mines in Kutch district. Both these companies bid highest for GMDC's bauxite. GMDC, majorly owned by the Gujarat government had, earlier,...
No waive of penalty on Vedanta: Odisha Govt
Odisha governemnt Tuesday made it clear that there was no proposal of waiving penalty on Vedanta Aluminium Limited (VAL) which allegedly drew water from the Hirakud reservoir before signing formal agreement with the water resources department. "Penalty against VAL will not be waived. The company...
Only 50% of fly ash utilized in 2010-11
Fly ash utilization in the state has left a lot to be desired as only half of the total fly ash generated was utilized in 2010-11. According to information provided by state energy minister Atanu Sabyasachi Nayak in the state assembly, 27 coal-based power plants generated 21.18 million tonnes of...
Only 50% of fly ash utilized in 2010-11
Fly ash utilization in the state has left a lot to be desired as only half of the total fly ash generated was utilized in 2010-11. According to information provided by state energy minister Atanu Sabyasachi Nayak in the state assembly, 27 coal-based power plants generated 21.18 million tonnes of...
Congress accuses Chhattisgarh govt of selling state's mineral wealth
Stating what it could be a startling revelation even for the members of treasury benches and ministers, a senior Congress member on Monday reportedly “exposed” the BJP-led Chhattisgarh government for allegedly selling state’s mineral wealth. Mohammed Akbar, a senior Congress legislator and former...
Vedanta in deep water
Even as Vedanta storm raged in the Assembly on Saturday, It is revealed that the company has not only to pay over Rs 14 crore as water dues to the State Government but also drawn huge quantity of groundwater without any agreement for the last four years. The Water Resources (WR) Department...
Sterlite Industries plunges on subsidiary's debt concerns
Sterlite has fallen 15% over the last month on concerns around Vedanta Aluminium, which is Sterlite’s subsidiary. Vedanta Aluminium is currently making losses. Mining major Sterlite Industries was the biggest loser on the Sensex and Nifty Friday. At 1250 hours, Sterlite traded with over 4 per cent...
Vedanta seeks coal mines overseas, to participate in India auction
India focused miner Vedanta Resources has said it is keen to acquire coal mines overseas, including inking long term off take agreements. The company intends to bid for coal mines in India, to get things off the ground. "We are looking at coal assets subject to government policy. India has ample...
Vedanta Aluminium suffers refinery setback
Indian group Vedanta Aluminium's bid to expand its refinery capacity at Lanjigarh in Odisha's Kalahandi district appears to have run into a legal hurdle. India’s environment has postponed the terms of reference for the expansion until an Odisha High Court judgement. The ministry issued the notice...
Vedanta expanding its smelting capacity to 2.5 mn tonne
Vedanta Aluminium, an associate company of the globally-diversified metals and mining group Vedanta Resources PLC, hopes to complete its ambitious Rs 60,000 crore smelting capacity expansion project by the next fiscal, a top official said here today. The smelting capacity will be raised to 2.5...
MoEF halts issuance of ToR to Vedanta
The Union Ministry of Environment and Forest has decided to temporarily halt the issuance of the term of reference (ToR) in favour of Vedanta Aluminium Ltd (VAL) for conduct of environment impact assessment (EIA) study for the expansion work of the company’s Lanjigarh project. The action has been...
Bauxite buys from open market adding to costs, says SK Roongta, MD, Vedanta Aluminum
Metal tycoon Anil Agarwal committed to invest about Rs 60,000 crore for building Vedanta Aluminum - the aim was for a 2.4 mt plant which is almost equal to the total aluminum consumed in India. But a ban on bauxite mining and government denial to expand its alumina refinery, have upset Vedanta's...
