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'Faster mining nods key to meet '30 aluminium goals'
Economic Times
·
24d ago
Medial
India's aluminium vision for 2030 demands faster mining approvals and local recycling. The plan targets 50 MTPA bauxite production by FY30 and 150 MTPA by FY47. Current bauxite production is stagnant, while aluminium demand and production grow. Industry leaders recommend accelerating mining operations in resource-rich states and expediting clearance processes. Enhanced exploration and consistent policies are essential to meet increasing domestic aluminium demand, which could double by 2030 and rise further by 2047.
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Greenhouse gas targets: 282 industrial units under obligation to reduce emissions - Greenhouse gas targets: 282 industrial units under obligation to reduce emissions BusinessToday
Business Today
·
3m ago
Medial
India's Environment Ministry has set greenhouse gas reduction targets for major polluting industries in aluminium, cement, pulp and paper, and chlor-alkali sectors for FY26 and FY27. Non-compliance requires purchasing carbon credits or paying penalties. This initiative kickstarts the domestic carbon market and trading system. It mandates industries like Vedanta and UltraTech to meet specific emission intensity targets, marking the first instance of quantified reduction goals per industry player in these sectors.
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Gautam Adani has a new $5 billion business idea in mind | Company Business News
Livemint
·
8m ago
Medial
The Adani Group is set to invest $5 billion in India's metals business, expanding its reach beyond the cement sector. The conglomerate plans to focus on mining, refining, and production of copper, iron and steel, and aluminium over the next 3-5 years. This move will challenge existing players in the industry such as Vedanta, Hindalco Industries, and Tata Group. Adani aims to leverage its synergies with its renewable energy, transmission, logistics, ports, and infrastructure businesses to create an end-to-end ecosystem and control production costs. The company's investment in metals will support its green energy goals and reduce dependence on imports.
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Hindalco to set up ₹800 cr EV battery foil unit in Odisha
Livemint
·
1y ago
Medial
Hindalco Industries, the Aditya Birla Group's aluminium flagship, plans to invest ₹800 crore in setting up a new plant in Odisha, India, to manufacture high-quality aluminium foil for rechargeable batteries. The plant is projected to produce 25,000 tonnes initially and aims to meet the growing demand for battery-grade aluminium foil in India, which is expected to reach 40,000 tonnes by 2030. Hindalco is focusing on the development of advanced battery materials and technologies to support the growth of the electric vehicle and energy-storage systems market.
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Saudi mining company Ma’aden to buy Alcoa's stake in joint venture for $1.1 bn
VCCircle
·
10m ago
Medial
Alcoa, a US aluminium maker, has announced plans to sell a 25.1% stake in its Ma'aden joint venture to Saudi Arabian mining company Ma'aden for $1.1 billion. The deal includes around 86 million shares of Ma'aden and $150 million in cash. Alcoa expects the transaction to be completed in the first half of 2025 and will continue to hold its Ma'aden shares for at least three years. The joint venture was established in 2009 and has since become a fully integrated mining complex in Saudi Arabia.
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SpaceX's Starlink satellites may be hindering Ozone healing: Study
Inshorts
·
1y ago
Medial
SpaceX's Starlink satellites may be hindering Ozone layer's healing process, as per a new study. Researchers estimated that if megaconstellations like Starlink's keep growing, aluminium oxides in atmosphere may rise 646%/year over natural levels. They found that a 550-lb satellite generates 66 lbs of aluminium oxide nanoparticles during reentry, that would take 30 years to reach stratosphere.
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Mines Minister launches vision documents for Aluminium and Copper
Economic Times
·
1m ago
Medial
India aims to significantly increase domestic aluminium and copper production by 2047, as outlined in new vision documents shared by Union Coal and Mines Minister G Kishan Reddy. The Aluminium Vision Document targets a sixfold increase in output and expanding bauxite capacity. The Copper Vision aims to meet rising demand with plans for substantial refining capacity and enhanced recycling. Challenges include reliance on imports and securing supply chains, particularly for copper concentrate.
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Commodity Radar: Trends positive for aluminium trade. Time to accumulate for up to 6% near term upside
Economic Times
·
5d ago
Medial
Aluminium prices experienced fluctuations due to market uncertainties, including new US tariffs and fluctuations in international prices. Despite a temporary dip, prices are supported by positive demand forecasts from China and supply constraints. Traders are optimistic, noting technical indicators like a golden crossover suggest a medium-term recovery. Aluminium is trading above key moving averages but faces resistance around the Rs 255-257 zone. Investors consider accumulating on price dips with targets of Rs 258 and Rs 264.
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A False Start on the Road to an All-American Bitcoin
Wired
·
1m ago
Medial
Donald Trump’s ambition to make the US a bitcoin mining powerhouse faces challenges with the introduction of tariffs on key suppliers, raising hardware costs for US firms. While these tariffs benefit domestic manufacturers like Auradine, they also add financial strain on mining companies already battling economic and energy competition. Some firms pivot to AI and overseas operations to mitigate risks. Despite Trump’s efforts, the goal for American-dominated bitcoin mining is threatened by current market dynamics.
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Vedanta expands alumina refining capacity to 3.5 mtpa
Money Control
·
1y ago
Medial
Vedanta Aluminium has commissioned a 1.5 million tonnes per annum (mtpa) facility at its alumina refinery in Lanjigarh, Odisha, expanding its capacity to 3.5 mtpa. The expansion is part of the company's efforts to become one of the top three aluminium producers globally. The new addition takes the refinery's nameplate capacity from 2 mtpa to 5 mtpa. Vedanta Aluminium, a subsidiary of Vedanta Limited, is India's largest producer of aluminium, generating over half of India's aluminium production in FY24. Vedanta Limited posted a 18.3% decline in net profit at INR 2,013 crore for Q3 FY24.
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Vedanta to raise up to Rs 1,000 crore via debentures
Money Control
·
1y ago
Medial
Mining conglomerate Vedanta Ltd has announced plans to raise Rs 1,000 crore (approximately $136 million) via the issuance of debentures. The company's directors have approved the allotment of 100,000 non-convertible debentures on a private placement basis. The funds will support Vedanta's operations across various sectors, including oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrate, with recent expansions into semiconductors and display glass. Vedanta Ltd is a subsidiary of Vedanta Resources Ltd and is known as one of the world's leading natural resources companies.
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