Vedanta Resources plc

Higher Prices and Greater Volume Lift Vedanta’s Q3 Results

Higher Prices and Greater Volume Lift Vedanta’s Q3 Results

London-based Indian metals and mining firm Vedanta Resources plc released unaudited consolidated results for the third quarter of fiscal year 2017 on Tuesday. Higher commodity prices and increases in production volume helped enhance the firm’s bottom line in the quarter. Net sales...

India to Follow Global Trend of Lowered Taxes on Aluminium: Vedanta’s Agarwal

Vedanta Chairman Anil Agarwal expressed a hopeful attitude about the prospects of the domestic and global aluminium trade in an interview with domestic media published earlier this week. When asked whether tax rebates and long-term gains would be realized after demonetization takes hold in the sector, Agarwal indicated that such positives had already come to […]

Nalco Considering Sale of Alumina to Vedanta

India’s National Aluminium Company (Nalco) may finally be given the green light to sell alumina to private-sector rival Vedanta plc, as the Indian government has requested the state-owned firm to look into sales of the aluminium precursor to the London-based miner. Both Nalco and Vedanta operate refineries and smelters in the eastern state of Odisha, […]

Indian Government Declines Imposing Safeguard Duty on Imported Aluminium

The Indian government has decided against imposing import safeguards against overseas aluminium. According to the announcement, made on Tuesday, the government did not find sufficient evidence that imported aluminium impacts the domestic aluminium industry’s bottom line. The Directorate General of Safeguards, which is the branch of the finance ministry charged with making such determinations, said […]

Indian Aluminium Producers Seek Relaxation of Duties on Caustic Soda

Several Indian aluminium manufacturers, including Vedanta Ltd, Hindalco Industries Ltd, and National Aluminium Co. Ltd (Nalco) have petitioned their government to exempt domestic alumina producers from the anti-dumping duties on caustic soda. Known formally as sodium hydroxide (NaOH) and informally in some regions as “lye,” caustic soda is an metallic base and alkali inorganic compound […]

Value addition can bail out debt laden Indian producers

For primary aluminium producers in India saddled with humongous debt, shifting focus to value added products is the new buzzword, and understandably so. Volatile LME prices have eroded much of the margins of top producers like Aditya Birla Group owned Hindalco and London listed metal conglomerate Vedanta’s aluminium operations in India. Between them, the two […]