Page 36 - Vedanta

SC refuses to halt e-auction of iron ore in Karnataka

The apex court had on April 18, 2013 allowed mining in Ballari, Tumakuru and Chitradurga districts

Vedanta's Q1 aluminium output up 44% on capacity ramp-ups

Production hike came on the back of capacity ramp-ups at the Jharsuguda-II and Balco-II smelters

Zinc, aluminium boost Vedanta's Q1 numbers

Capacity expansion, firm pricing outlook to drive growth despite rising fuel costs

Vedanta plans $2.4-billion capex over two years

Anil Agarwal-led Vedanta Ltd has planned a capex of $2.4 billion over next two years ($1.2 billion in each FY18 and FY19) as the company will be investing in zinc projects of Hindustan Zinc, rebuilding volumes for its oil&gas business and doubling capacity at Tuticorin copper smelter.Today, the company reported its June quarter earnings where its consolidated performance continued to be strong on the back of beefy earnings from its subsidiary Hindustan Zinc, while standalone business put up a dismal picture."Weak performance of standalone business was expected as ongoing ramp up in aluminium segment has pushed up depreciation. This was bound to come up," Arun Kumar, chief financial officer at Vedanta informed in the earnings conference call. The company is currently ramping up its aluminium capacity to 2 million tonne from 1.4 million tonne last year. The total installed aluminium capacity of Vedanta stands at 2.3 million tonne, which the company aims at ramping up in the next ...

Vedanta consolidated Q1 profit doubles, at Rs 1,525 cr

The rise in zinc profits was offset by losses in the company's power and iron ore operations

Anil Agarwal-led Vedanta eyes 50% volume growth in next 2-3 years

Anil Agarwal-led Vedanta Ltd plans to increase its volumes by 50 percent across all businesses over the next two-three years as part of the capex chalked out by the company."We cannot give you an exact capex figure but over next two-three years you will see the company 50 percent larger than what it is now in terms of its volumes across all businesses," chairman Navin Agarwal told reporters today. He was speaking to reporters post Vedanta's first annual general meeting upon the merger of Cairn India with the metals-and-mining company.Most of the planned capex of Vedanta will be employed in zinc, oil&gas and aluminium businesses, chief financial officer Arun Kumar informed shareholders at the AGM.With a strong balance sheet and profitable businesses across all segments, Vedanta Ltd is expected to continue rewarding shareholders with dividends, informed the management. The company, over the last 15 months has reduced its gross debt by over Rs 10,000 crore and has reported EBITDA of .

London court hears Vedanta's plea against Zambia villagers' pollution claim

Earlier this year HC ruled Royal Dutch Shell could not be sued in London over oil spills in Nigeria

Vedanta makes $3-bn bet to re-energise biggest oilfield

Projects viable at even $40 a barrel oil: Acting CEO Mathur

Vedanta to set up steel plant in Jharkhand in JV with JSMDC

The steel plant of West Singhbhum district is one of such projects

Vedanta hopes for Lanjigarh expansion nod by 2020

Company expects to increase capacity from existing 4 mtpa to to six million tonne per annum by 2020

Vedanta's bid to raise Rs 350 cr via NCDs gets approved

Vedanta Ltd today said that a board-appointed panel has approved raising up to Rs 350 crore via issuance of non-convertible debentures. "A meeting of duly authorised committee of directors was held today...For approving offering for subscription, on a private placement basis, up to 3500 secured, rated, listed, redeemable non-convertible debentures...Aggregating up to Rs 350 crore," Vedanta Ltd said in a BSE filing. The NCDs are "to be redeemed after two years from date of allotment through cash flows of the company," the company said. Shares of the company were trading down 2.29 per cent at Rs 239.30 on BSE. Vedanta Ltd is one of the world's leading diversified natural resources companies. It involves in production of zinc, lead, silver, aluminium, copper, iron ore, oil & gas and commercial power, while its operations span across India, South Africa, Namibia, Ireland and Australia.

Vedanta appoints Priya Agarwal, Aman Mehta on company's Board

Anil Agarwal-led Vedanta today announced appointment of Priya Agarwal and Aman Mehta on company's Board of Director.Priya Agarwal, daughter of Vedanta's chairman Emeritus Anil Agarwal, has done B.Sc. Psychology with Business Management from the University of Warwick in the UK. She has experience in public relations with Ogilvy & Mather and in Human Resources with Korn Ferry International, Vedanta Resources and HDFC Bank and in Strategic Planning with Rediffusion Y&R. Aman Mehta is an economics graduate from Delhi University and has over 39 years' experience in various positions with the HSBC Group from where he retired in January 2004 as CEO Asia Pacific. Mr Mehta occupies himself primarily with corporate governance, with Board and advisory roles in a range of companies and institutions in India as well as overseas. Formerly, he has been a Supervisory Board member of ING Group NV and a Director of Raffles Holdings, Singapore. He is also a member of the governing board of the ..

Vedanta swings back into the black in Q4 helped by higher revenue

Consolidated revenue surged about 35% to Rs 24,612 cr

Fresh trouble stalks Vedanta's local bauxite hunt at Kodingamali mine

Vedanta's hope to source bauxite from the Kodingamali mines of Odisha Mining Corporation (OMC) has run into rough weather. As Vedanta was struggling to feed its Lanjigarh alumina refinery, the Odisha government in January this year, had struck a deal with OMC for supply of bauxite from the latter's Kodingamali lease with 81 million tonne of deposits.But, the going may be beset with trouble for Vedanta. Lok Shakti Abhiyan (LSA), a people centric organization has filed an objection with the Ministry of environment, forest & climate change (MoEFCC) to consider various facets before allowing extraction of bauxite from the mine."We have filed an objection with the ministry regarding supply of bauxite to Vedanta from Kodingamali mine. Let there be environment impact assessment, public hearing and settlement of forest rights before the mine is opened up", said Prafulla Samantara, president of LSA.He said the Kodingamali mine was earlier alloted to an Aditya Birla company but mining ...

Vedanta steps up India plans despite setbacks

Chairman Anil Agarwal continues to make big investments in aluminium in India, despite challenges

Supply disruption hits Vedanta's aluminium plant in Odisha

228 out of a total of 608 pots that process molten aluminium were damaged by outage, says Vedanta

Vedanta's power sales higher 7% on ramp-ups at TSPL, Balco

Vedanta's overall power sales were higher by seven per cent in FY17 on account of ramp-ups of its units- Talwandi Sabo Power Ltd (TSPL) and Balco. The third unit of TSPL was capitalised during the year, contributing to significantly higher power sales.Total commercial power sales by Vedanta moved up from 12121 units to 12925 units. For the quarter ended March 31, power sales were two per cent higher year-on-year (y-o-y) due to the commissioning of additional power capacities at TSPL and Balco over the last one year. Power sales from TSPL increased with all three units becoming operational this year. In Q4, the three units operated at an availability of 85 per cent. The Power Purchase Agreement (PPA) with the Punjab State Power Corporation Ltd (PSPCL) compensated the company based on the availability of the plant. The Jharsuguda 600MW power plant operated at a plant load factor (PLF) of 78 per cent in Q4 of 2016-17. "The 600 MW capacity (2x300MW) of the Balco IPP ...

Vedanta's financial flexibility improves with Cairn India merger: S&P

Mining mogul Anil Agarwal's Vedanta Ltd will get access to USD 4 billion of cash and another about USD 700 million a year following the merger with Cairn India, supporting repaying of USD 9 billion debt, S&P Global Ratings said today. S&P said its rating on the UK-listed Vedanta Resources is not immediately affected by the merger of the company's subsidiary Vedanta Ltd with Cairn India Ltd. "In our view, the merger will improve the cash flow fungibility within Vedanta Ltd by simplifying the group structure to some extent. However, it will not change Vedanta Resources' financial metrics nor will it materially improve cash flow fungibility between Vedanta Ltd and the holding company Vedanta Resources," it said in a statement. Vedanta Ltd, S&P said, will benefit from improved cash flow fungibility, given its high debt and significant short- term borrowings. "Vedanta Ltd would get access to about USD 4 billion of cash at Cairn India and its free operating cash flows, which

Capacity ramp-up helps Vedanta post 31% growth in aluminium output

The ramp up of its smelters at Jharsuguda and the Balco unit at Korba (Chhattisgarh) helped mining & metals conglomerate Vedanta to log 31 per cent growth in aluminium production in 2016-17.Aluminium output touched a record 1.21 million tonne (mt), rising from 0.92 mt. For the quarter ended March 31, aluminium production was 56 per cent higher at 0.35 mt. This was driven by ramp ups at the Jharsuguda-II and BALCO-II smelters which are progressing well, following the pot outages during the year. All the pots are on line at BALCO-II and are expected stabilise in the first quarter of 2017-18."Stabilised production excluding trial run production was 307,000 tonne in Q4. We exited the quarter at a run rate of 1.4 million tonnes (1.2 million tonnes stabilised run rate)", Vedanta said in its production statement.The rolled product facility at Balco has successfully ramped up its operations following optimisation of its cost structure, and produced 6,653 tonne during

Vedanta's bauxite mine expansion plan gets mixed response from locals

Green activists opposed stating the company failed to implement environment clearance norms