Vedanta eyes higher aluminium output on strong LME, low alumina prices

Vedanta eyes higher aluminium output on strong LME, low alumina prices

Buoyed by resilient LME (London Metal Exchange) prices and the declining cost of alumina, Anil Agarwal-led mining giant Vedanta aims to ramp up its aluminium output to 1.6 million tonnes in the current financial year. The complete ramp-up of its second aluminium smelter at Balco and the progressive ramp-up of the balance pot lines at its 1.25 million tonnes per annum (mtpa) Jharsuguda smelter would help Vedanta achieve the higher production target.

Vedanta exited FY17 with a record aluminium production of 1.2 million tonnes, excluding trial production. In FY16, the cost of production (CoP) had fallen 7 per cent to $1,463 per tonnes due to lower cost of alumina, increase in volumes, rupee appreciation and the implementation of various cost-saving initiatives. Read more

Credits:business-standard.com

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