Vedanta cuts aluminium cost by 20% in Q4 amid coronavirus pandemic

The company aims to commence mining from this Jamkhani block within a year of getting the requisite approvals from the state authorities

At a time when the Covid-19 pandemic has sucked demand and pressured international prices, Vedanta Ltd has pruned its aluminium Cost of Production (CoP) by 20 per cent year-on-year (y-o-y) to $1451 per tonne.

For the full fiscal year FY20, aluminium CoP was down 14 per cent y-o-y to $1690 a tonne.

Reducing aluminium making costs augurs well for Vedanta amid a slide in prices of the white metal on the London Metal Exchange (LME). Aluminium retreated on the LME Tuesday, falling 0.8 per cent to $1593 per tonne. LME aluminium prices had rallied nearly 10 per cent for the past three