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| Vedanta sees overall Q1 growth in mining segments |
| Press Trust of India / London Jul 31, 2009, 21:31 IST |
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Anil Agarwal-run Vedanta Resources Plc today reported an increase in production of aluminium and zinc, copper, iron ore from its operations for the first quarter of 2009-10 financial year.
The company's aluminium production increased to 1.88 lakh tonnes, up 38.2 per cent from the year-ago period, a company statement said.
In the year-ago period, the metal and mining major produced 1.36 lakh tonnes of aluminium.
The increase was primarily due to the ramp up and phased commissioning of the first phase of the 500 kilo tonne per annum at the Jharsuguda aluminium smelter in Orissa, the company said in a statement.
"We are in the process of starting the phased commissioning of the second phase of 250 ktpa for completion by end FY 2010. During Q1, we completely ramped down our BALCO Plant I aluminium smelter," it added.
The company said its mined zinc metal production was up by 17.4 per cent at 1.62 lakh tonnes in the reporting quarter The company produced 1.38 lakh tonnes of the metal in the first quarter of the last fiscal.
It attributed the increase in zinc output to the commissioning of the new concentrator at its Rampura Agucha mines in Rajasthan.
Vedanta Resources produces aluminium and zinc from its India-based units.
The company's copper cathode production from Tuticorin smelter in India stood at 78,000 tonnes compared with 68,000 tonnes in the corresponding quarter a year ago.
"Cathode production was lower than its rated capacity, primarily on account of low copper in concentrate," it added.
During Q1, Vedanta's African subsidiary KCM produced 43,000 tonnes of copper cathodes, significantly higher than the production of 36,000 tonnes in the year-ago period.
"Production benefited from the ramp up of the new Nchanga smelter and a 55 per cent increase in production from the tailings leach plant to 14,000 tonnes," it added.
At Sesa Goa, production of iron ore in the first quarter was at 4.9 million tonnes, compared to 4.6 million tonnes in the year-ago quarter.
The company said it has been selling surplus power in commercial power markets to optimise returns following the closure of our aluminium smelters at MALCO and BALCO Plant I.
"Currently, the power business comprises 123 Mw of wind power generation, a 100 Mw power plant at MALCO and the 270 Mw power plant at BALCO Plant I," it added.
Vedanta Resources said it had sold 470 million units of power in the first quarter compared with 74 million units in the year-ago period.
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