Aluminium Industry

AM Green, Mitsui explore potential investment, offtake for green aluminium

Dec 18 (Reuters) - India's AM Green and Japan's Mitsui & Co have signed a non-binding agreement to explore a potential investment in the former's green aluminium business, the companies said on Thursday.

FIMI pushes for 15% aluminium duty, flags import surge, poor-quality scrap

FIMI has urged the Finance Ministry to raise the basic customs duty on aluminium products to 15 per cent, citing rising imports, poor-quality scrap inflows and the pressure

YES Sec initiates coverage on Nalco with 'Add', sees 16% upside: Check TP

Nalco share price today: YES Securities values the company at 6x H1FY28E EV/Ebitda and arrives at a target price of ₹247

Aluminium industry needs policy support for next phase of growth: Hindalco

Hindalco and Vedanta executives said policy support, innovation and investment will be critical as India's aluminium demand is set to multiply, driven by urbanisation and industry needs

Govt plans support package for steel, aluminium sectors amid US tariffs

The government is preparing a support package to help steel and aluminium industries after the US hiked import tariffs to 50 per cent, raising concerns of dumping and demand slump

Nalco to invest ₹30K crore in smelter and coal power plant, says CMD

The state-run aluminium producer plans to allocate about ₹18,000 crore for establishing the proposed smelter in Odisha, Chairman Singh added

Vedanta Chairman Agarwal calls for safeguard duty on aluminium imports

Vedanta Chairman Anil Agarwal urged the government to impose a safeguard duty on aluminium imports, citing the metal's strategic role and rising global trade tensions

Vedanta Q4 mined metal, aluminium, iron ore, saleable steel production up

Vedanta registered an increase in aluminium, mined metal, iron ore, and saleable steel output and decline in production of oil and gas in the fourth quarter of FY25. The company's aluminum production during the quarter grew marginally by 1 per cent to 6,03,000 tonnes compared to the same period in the previous fiscal year. Similarly, mined metal production at Vedanta's Zinc India division rose 4 per cent to 3,10,000 tonnes, driven by improved mined metal grades and mill recovery. The production of mined metal at the Zinc International division for the fourth quarter was 50,000 tonnes, up 52 per cent year-on-year, the company said in a statement. The conglomerate also registered a 41 per cent increase in the production of copper cathode, which stood at 44,000 tonnes. Iron ore production in the January-March period was at 2.1 million tonnes, up 22 per cent from the year-ago period. The total saleable steel production increased 4 per cent year-on-year, driven by increase in hot metal

Vedanta to set up aluminium park in Odisha's Jharsuguda over 253 acres

Vedanta Ltd on Monday said it will set up a modern aluminium park in Odisha's Jharsuguda, close to its aluminium smelter. Spanning over 253 acres, the park will attract more than 100 micro, small and medium enterprises (MSMEs) and generate 2 lakh employment opportunities, the company said in a statement. Vedanta would invest Rs 1 lakh crore for setting up of the park and an aluminium plant of 3 million tonnes per annum (MTPA) capacity in Rayagada district, it said. Our journey in Odisha has been nothing short of transformative. From breaking barriers with the country's first women-operated potline to fostering sustainable growth through our skill development and environmental initiatives, we are deeply committed to shaping Odisha's bright future, said Vedanta Aluminium's chief operating officer (COO), Sunil Gupta. Our latest investment of Rs 1 lakh crore is a testament to our enduring belief in the state's potential to lead India's industrial revolution, he said. At the Utkarsh ..

Nalco draws Parl panel flak for spending under 50% of targeted capex

A parliamentary panel has criticised state-owned Nalco for spending less than 50 per cent of the targeted capex of Rs 2,000 crore in the first 10 months of 2024-25. "Against the targeted capex of Rs 2,000 crore by Nalco for the year 2024-25, the end of January 2025, the capex stood at Rs 879 crore, i.e. less than 50 per cent of the targeted amount. "The committee would like to be apprised of the slow pace of capex in the first 10 months of the year...," the Standing Committee on Coal, Mines and Steel has said report submitted to Parliament. It further said the company is neither availing nor proposes to avail any budgetary support from the Centre. The plan outlay is being managed entirely through internal resources only. The company has achieved its targeted expenditure in 2020-21, 2022-23, and 2023-24. "In FY 21-22 there was only marginal shortfall and achievement was 99.2 per cent of its targeted capex. In FY 19-20, the company achieved 93.2 per cent of targeted capex," it ...

Iron ore production rises 3% in Apr-Nov period to 182.6 mn tonnes

The country's iron ore production rose by 3 per cent to 182.6 million tonnes (MT) in the April-November period of the current fiscal. India's iron ore output was 177.2 MT in the year-ago period, according to the provisional data. The mines ministry in a statement said that the country's manganese ore output rose by 9.5 per cent to 2.3 MT in April- November period over 2.1 MT during the corresponding period of the previous fiscal year. Production of chromite rose to 2 MT over 1.8 MT in the year-ago period. The production of bauxite also rose by 8.9 per cent to 15.9 MT in April- November period over 14.6 MT in the corresponding month of the previous fiscal. "In the non-ferrous metal sector, primary aluminium production in FY 2024-25 (April-November) posted a growth of 1.1 per cent over the corresponding period last year, increasing to 27.91 lakh tonnes (LT) in FY 2024-25 (April-November) from 27.60 LT in FY 2023-24 (April-November)," the mines ministry said. India is the second-larg

China tax rebate cuts boost aluminium stocks; shares rally on price surge

Beijing's move may further boost aluminium prices as exports from the country are set to decline starting December

Vedanta to invest Rs 1 trn in Odisha for alumina refinery, aluminium plant

Metal and mining major Vedanta on Friday announced an investment of Rs 1 lakh crore in Odisha to set up an alumina refinery and an aluminium plant in the state. The Anil Agarwal-led group has already invested Rs 1 lakh crore across assets in the state. The new investment will be in setting up a 6 million tonne per annum (MTPA) alumina refinery and a 3MTPA green aluminium plant, a statement from Vedanta said. It will create 2 lakh jobs in the state and help Odisha achieve its goal of becoming a USD 500 billion economy by 2030. Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi earlier during the day in the financial capital. Majhi is in Mumbai for a roadshow to be held on Saturday, ahead of an investor summit in Odisha in January 2025. Commenting on the new investment commitment, Agarwal said Odisha has always played an important role in Vedanta's growth and affirmed the company's commitment to drive large-scale industrialisation in the state. The new inves

Govt eases import norms for raw, calcined pet coke to cater domestic demand

The government on Wednesday eased import norms for raw and calcined pet coke and permitted the inbound shipments to cater entirely to the domestic needs of aluminium and other industries. Earlier, it was allowed only for the aluminium industry. "Import of RPC (raw pet coke) and CPC (calcined pet coke) shall be permitted to cater entirely to the domestic needs of aluminium industry and other industries," Directorate General of Foreign Trade (DGFT) said in a notification. Pet coke is used for fuel purposes. In a separate notification, it said that Odisha's forest, environment and climate change department has been allowed additional time of 12 months for export of red sanders heart wood in log form. This wood is an endangered species of flora protected under the Convention of International Trade in Endangered Species of Flora and Fauna. Red sanders is found mainly in the Seshachalam hill ranges spread across Kadapa, Chittoor and Kurnool in the Rayalaseema region and parts of Nellor

Aluminium industry needs additional capex to reach net-zero emission: Study

The aluminium sector in India would need an additional capital expenditure (capex) of about Rs 2.2 lakh crore to attain net-zero carbon emissions, an independent study on Tuesday said. The study released by the Council on Energy, Environment and Water (CEEW) said that green energy can abate 49 per cent of the total emissions from the industry. A complete transition to renewable is not feasible at the moment as it is intermittent in nature, and backup will always be necessary in case of grid failure, it said. Net-zero aluminium could be 61 per cent more expensive, the study said, adding that decarbonising this industry would also lead to a yearly increase of Rs 26,049 crore in additional operating expenditure, as per the study. Although the country's per capita aluminium consumption is low at 2.5 kg (compared to the world average of 11 kg), the industry emitted nearly 77 million tonnes of CO2 in 2019-20, it said. Electricity consumption by plants accounted for 80 per cent of the to

Vedanta Aluminium expands alumina capacity to 3.5 MT at Lanjigarh unit

Vedanta Aluminium on Wednesday said it has expanded its annual alumina refining capacity to 3.5 million tonnes at its Lanjigarh unit in Odisha. The alumina refining capacity earlier was 2 million tonnes per annum (MTPA), the company said in a statement. It plans to further increase alumina refining capacity to 5 MTPA, besides increasing aluminium production capacity to 3 MTPA from 2.37 MTPA at present, the Vedanta Group company said. Vedanta Aluminium CEO John Slaven said: "We expanded the capacity, which strengthens our raw material security and reduces costs for our Jharsuguda and BALCO aluminium smelters. It is a significant step towards 100 per cent vertical integration and strongly positions us for sustainable growth within the global aluminium market".

Centre extends 'public utility' deadline for iron and steel industries

A public utility service refers to an industry or service considered essential for the community's well-being and functioning

Nalco Q3 results: Profit rises two-fold to Rs 471 cr, income at Rs 3,397 cr

National Aluminium Company Ltd on Tuesday reported almost two-fold rise in consolidated profit to Rs 470.61 crore for the quarter ended on December 31, 2023. The company had posted a consolidated profit of Rs 256.32 crore in the October-December quarter of FY2022-23, Nalco said in a filing to BSE. Total income during the quarter under review rose to Rs 3,397.87 crore from Rs 3,357.71 crore in the year-ago period. The company's board has approved the second interim dividend of Rs 2 per share on the paid-up equity share capital of Rs 918.32 crore for the current fiscal. National Aluminium Company Limited (Nalco) is a Navratna PSU. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country.

Aluminium, Bauxite industries: Govt extends 'public utility' tag deadline

A public utility service refers to an industry or service considered essential for the community's well-being and functioning

Suriname bauxite project may attract interest from Indian, Chinese firms

The South American country hopes to have awarded a concession for bauxite - the world's main source of aluminum - by this time next year, after decades of attempts to develop the ore