The International Copper Study Group (ICSG) recently released its copper report covering 2018, which estimated a global refined copper deficit of 390,000 tons in 2018. According to the ICSG report, world mine production increased by an estimated 2.3% in 2018. “The increase in world mine production of about 460,000 t copper was principally due to […]
The price of natural gas may go up by as much as 18% from April 2019, according to a CARE Ratings’ report. As per the New Domestic Gas policy of 2014, which suggests revising natural gas prices every six months, the government may be revising domestic gas prices effective from 1 April 2019, according to […]
With imports of finished aluminium products having risen over 50 per cent year-to-date, the micro, small and medium enterprises (MSME) segment is witnessing sharp margin contraction and slim hope for change in situation for the next six months. “Margins of MSME players have dropped to 2-3 per cent, from 8-10 per cent, as the surge in finished […]
Gamsberg, part of Vedanta’s Zinc International SA operations, started first-phase production in 2018 and the project is expected to act as an anchor for the company’s ambitious growth plans, adding as much as 600,000 tons of zinc to the company’s annual production in its final phase. In the stark and arid Northern Cape, 60km from Pofadder, in […]
Vedanta, the natural resources company controlled by Anil Agarwal said its foreign subsidiary Cairn India Holdings’ $200 million investment in Anglo American met all governance requirements. The company, India’s largest miner and No. 1 iron ore exporter, said the deal was made on an arms-length basis in December 2018, adding it provided “significantly higher” returns compared […]
India’s environmental court said it will issue its judgment in one week on whether to allow Vedanta Ltd to re-open its copper smelter in Tamil Nadu, which was closed earlier this year after 13 people died when police fired on protesters. A panel of experts set up by India’s National Green Tribunal, informally known as […]
India’s biggest non-ferrous metal companies have sounded a warning on the country joining the 10-member Regional Comprehensive Economic Partnership (RCEP) on fears of another blow to their business after their experience of the India-ASEAN free trade agreement, the Economic Times newspaper reported. These companies — Hindalco, Vedanta, Hindustan Zinc, Hindustan Copper and Nalco — with […]
Ground water in Vedanta Resources’Sterlite copper smelter in southern India contains heavy metals exceeding limits for drinking water, India’s junior minister for water resources, Arjun Ram Meghwal, revealed to the environmental court. The smelter was shut down in May under order of the Tamil Nadu state government after 13 people died after coming under police […]
Vedanta Group’s Hindustan Zinc Ltd posted a marginal 1.5 per cent rise in net profit at Rs 1,918 crore for the quarter ended on June 30, 2018. The company had posted a net profit of Rs 1,889 crore in the year-ago period, Hindustan Zinc Ltd (HZL) said in a filing to the stock exchange, BSE. […]
Indian billionaire Anil Agarwal faces investor resistance to his $1 billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private. Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were prepared to back an 825 pence-a-share bid from Agarwal’s family trust, Volcan, […]