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'Faster mining nods key to meet '30 aluminium goals'

Economic Times

Economic Times · 1m ago

'Faster mining nods key to meet '30 aluminium goals'

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

Business Today · 4m ago

Greenhouse gas targets: 282 industrial units under obligation to reduce emissions - Greenhouse gas targets: 282 industrial units under obligation to reduce emissions BusinessToday

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.

Gautam Adani has a new $5 billion business idea in mind | Company Business News

Livemint

Livemint · 9m ago

Gautam Adani has a new $5 billion business idea in mind | Company Business News

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.

Hindalco to set up ₹800 cr EV battery foil unit in Odisha

Livemint

Livemint · 1y ago

Hindalco to set up ₹800 cr EV battery foil unit in Odisha

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Saudi mining company Ma’aden to buy Alcoa's stake in joint venture for $1.1 bn

VCCircle

VCCircle · 11m ago

Saudi mining company Ma’aden to buy Alcoa's stake in joint venture for $1.1 bn

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.

SpaceX's Starlink satellites may be hindering Ozone healing: Study

Inshorts · 1y ago

SpaceX's Starlink satellites may be hindering Ozone healing: Study

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.

Mines Minister launches vision documents for Aluminium and Copper

Economic Times

Economic Times · 1m ago

Mines Minister launches vision documents for Aluminium and Copper

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.

Waaree Solar Americas bags 452 MW solar module supply order in US

Economic Times

Economic Times · 1d ago

Waaree Solar Americas bags 452 MW solar module supply order in US

Waaree Solar Americas, a US subsidiary of India's Waaree Energies, has secured a significant order to supply 452 MW of advanced solar modules to a key American utility-scale solar and energy storage developer. The modules, set for delivery in FY2026-27, underscore Waaree’s expanding footprint in North America and exemplify the US market's growing reliance on Indian manufacturing power to strengthen renewable energy supply chains and meet decarbonization goals.

Commodity Radar: Trends positive for aluminium trade. Time to accumulate for up to 6% near term upside

Economic Times

Economic Times · 26d ago

Commodity Radar: Trends positive for aluminium trade. Time to accumulate for up to 6% near term upside

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.

A False Start on the Road to an All-American Bitcoin

Wired · 2m ago

A False Start on the Road to an All-American Bitcoin

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.

Vedanta expands alumina refining capacity to 3.5 mtpa

Money Control

Money Control · 1y ago

Vedanta expands alumina refining capacity to 3.5 mtpa

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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