General 2015-05-10The Madras Aluminium Company Ltd. (MALCO) was established in 1965 at Mettur Dam, near the city of Salem, Tamil Nadu in collaboration with Montecatine of Italy. MALCO was the only integrated primary Aluminium Metal complex in the entire South India with its own captive mining, refining, smelting and power generation operations. The Company was declared sick in the year 1987 due to vagaries of power supply the operations were suspended for three years from 1992 to 1995. BIFR sanctioned a rehabilitation scheme which envisaged a change in management. MALCO was taken over by the Vedanta group in 1995 and the new management has re-written the success story of MALCO. As the Companys networth turned positive, it was delisted from the purview of BIFR in the year 1997. The Company has ploughed its entire internal accruals towards diversification and modernization. MALCO has a state-of-the-art, coal-based Captive Power Plant at the same location which was commissioned in the year 1999. In the year 2004 MALCO augmented its smelter capacity from earlier 25,000TPA to 40,000TPA. In the year 2008 we thought it prudent to change the business model from that of aluminium manufacture to power generation considering various techno-economic factors and non-availability of key raw materials. MALCO grabbed this opportunity and scaled generation by commissioning a new unit for wheeling a larger power output for external sales which was more value accretive.
ELB as EPC contractor for Gamsberg process, water plants 2016-10-19Engineering solutions provider ELB’s Engineering Services subsidiary has been appointed by Black Mountain Mining, a subsidiary of Vedanta Resources, to provide engineering, procurement and construction (EPC) services at the Gamsberg zinc project, in the Northern Cape. The company will oversee the construction of the process, power and water plants at the project.
Gamsberg project cost lowered as zinc price outlook brightens 2016-10-14Zinc International, the subsidiary of the London-listed and India-rooted Vedanta, is managing to achieve what both Anglo American and Gold Fields failed to do before it – build a zinc mine at Gamsberg in the Northern Cape, which has been in the offing for more than 40 years. Zinc International, headed by CEO Deshnee Naidoo, has managed to shave $200-million off the project’s original capital estimate to take it down to $400-million.
Vedanta upbeat on Goa iron ore 2016-09-26
Vedanta Resources believes that the worst is over for the iron ore industry and is upbeat about the future of its operations in the Indian state of Goa. Since the Supreme Court imposed mining ban was lifted earlier this year, the company has been ramping up production from its Goa operations.
Vedanta Limited Shareholders Approve Merger of Cairn India Limited with Vedanta Limited 2016-09-12
MUMBAI, India, Sept. 12, 2016 /PRNewswire/ -- The equity shareholders of Cairn India Limited have today approved the Scheme of Arrangement of Cairn India Limited with Vedanta Limited with requisite majority. We announced the Vedanta Limited shareholder approval of the scheme on 9th...
Vedanta offered Mount Lyell support 2016-09-07
The State Government of Tasmania hopes that an offer of government support will prompt Indian-based Vedanta Resources to reopen a mothballed copper mine on the Australian island state. It has offered a financial package worth A$25 million to reopen the Mount Lyell copper mine by 2017.