India’s National Aluminium Company (NALCO) announced Saturday that it had its highest production of bauxite and alumina in the previous fiscal year. The state-owned enterprise said that these numbers reflect a re-emphasis on ore and alumina in order to remain profitable in a weak metals market.
“These are the highest-ever production figures since inception of the company,” said NALCO’s chairman and managing director Dr. Tapan Kumar Chand. “Perhaps this is the best possible tribute to the State, where NALCO was born and brought up since 1981.”
In the 2015-2016 fiscal year, NALCO produced 6,340,142 metric tons of bauxite, which is 10.47% higher year-on-year. The firm turned out 1,953,000 metric tons in the previous fiscal year, representing a 5.51% increase year-on-year.
“At a time when 70% aluminium companies world over have reported loss and the aluminium industry is reeling under heavy pressure due to sluggish international market, NALCO has remained profitable,” the firm said in a statement.
Additionally, in the 2015-2016 fiscal year, NALCO produced 372,000 metric tons of aluminium, which is 13.79% more year-on-year. This total includes 101,000 metric tons of aluminium wire rods, which is a high-water mark for the company in that product as well.
Metal sales were up as well, as the firm sold 372,424 metric tons in the previous fiscal year, which is a 14.21% increase year-on-year. Power generation was up 13.84% year-on-year, at 5841 million units.
Nalco was established in 1981 as a public sector company administered by the Ministry of Mines. It is the largest integrated aluminium complex in Asia, and the sixth largest in the world. The complex conducts bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations. Nalco is exploring the idea of branching off of the Indian subcontinent and setting up a greenfield smelter at a location where energy is available at competitive price. Nalco has shortlisted Iran, Indonesia and Oman as possible locations for the overseas smelter.