Vedanta to cut aluminium making cost

Buoyed by lower alumina and coal costs, diversified metals and mining conglomerate Vedanta plans to keep its aluminium manufacturing cost below $1,400 a tonne.  Nifty Trading Tips

In its projection for the September quarter, Vedanta said its aluminium-making cost stood at $1,473 a tonne in the April-September period, while its production cost declined to $1,462 a tonne. The fall in aluminium-making cost was on the back of lowering alumina and coal costs.Vedanta would also be aided by using power from its own sources. It has permission from the state power regulator – Odisha Electricity Regulatory Commission – to draw up 1,800 Mw power from its 2,400 Mw power station at Bhurkamunda, close to its aluminium-smelting facility, without paying cross subsidy charges.  Future & Option Trading Tips

 

Vedanta is going for a disciplined ramp-up of its aluminium smelters at Jharsuguda and the Balco (Bharat Aluminium Company) unit at Korba (Chhattisgarh) as it eyes a production figure of 1.1 million tonnes (mt) this year. Its production in the first half of FY17 was 0.54 mt.Ramp-up plan in this period was impacted by power outages at its second smelter at Jharsuguda and Korba. Of the 168 pots affected at Jharsuguda, 26 have been restarted and the rest are being repaired. At the Balco unit, 167 pots have been impacted and they are scheduled to be put in order in the January-March quarter. Financial Astrology Tips