Vedanta Resources plc releases production report for the Fourth Quarter and Full Year ending 31 March 2015. In the aluminium segment, Vedanta reports record quarterly and full year Aluminium production with the new Jharsuguda-II and Korba-II smelters ramping up successfully. The company also reports record quarterly and full year production at Lanjigarh Alumina refinery.
Tom Albanese, Chief Executive Officer, Vedanta Resources plc, said: "We continue to focus on the execution of our defined strategy and, despite volatile commodity markets, we remain confident in our diversified business model. In particular, record levels of production in Zinc and Aluminium over the year underpin our confidence in achieving greater operational performance and enhancing production across our well-invested and low-cost asset base, and from the start-up of new capacities."
At the Lanjigarh Alumina refinery, Q4 production was robust and at record levels allowing us to achieve 98% of the permitted capacity of 1 million tonnes in FY2015. The production numbers for FY2014 are not comparable due to a temporary suspension of production till July 2013.
In FY2015, production was stable at the 500kt Jharsuguda-I and 245kt Korba-I smelters. At the new 325kt Korba- II smelter, 84 pots were commissioned during the year and produced 71,000 tonnes. Ramp up to full capacity will take place during the course of H1 FY2016 along with the ramp up of the 1,200 MW power plant. Out of the two captive power units of 300 MW each, the first unit is expected to be commissioned in Q1 FY2016. The BALCO 270MW power plant will be available for captive consumption as a back-up for pot ramp-up support.
Vedanta has commenced the start-up of the first pot line of 312.5 kt of the 1.25 mtpa Jharsuguda II smelter, using surplus power from the 1,215 MW power plant. 82 pots have been started so far and are under trial run. Ramp-up of the remaining pots of the first pot line will commence in April 2015, using power from one 600MW unit of the 2,400 MW power plant.
Domestic coal availability improved during Q4 due to higher e-auction quantities from Coal India.
In the recently concluded coal block auctions conducted by the Government, BALCO emerged as the highest bidder for two operating coal mines (Chotia Block with reserves of 15.5 mt and production capacity of 1mtpa; and Gare Palma IV/1 Block with reserves of 44 mt and production capacity of 6 mtpa) The company will commence production at the Chotia mine in the next few months after transfer of mining lease and other approvals for which BALCO has applied to Government authorities.
