NALCO registers growth in production, operating income up by 45%, 1st quarter net profit Rs. 129 crore

Equity Bulls - August 14th, 2017

National Aluminium Company Limited (NALCO), a Navratna PSU of Ministry of Mines, Govt. of India, has announced the results for the 1st quarter ended June, 2017.

NALCO has achieved remarkable growth in production in all fronts. During the quarter, bauxite production was 18.81 lakh tonnes, thereby registering 10.4% growth over 17.04 lakh tonnes produced in the corresponding period of previous year. Alumina hydrate production was 5.26 lakh tonnes, which is 0.4% higher as compared to 5.24 lakh tonnes produced during the corresponding period of last fiscal. During the quarter, the company produced 1,00,695 tonnes of aluminium, which is 6.6% higher than 94,496 tonnes produced in the 1st quarter of previous financial year.

Explorations Boost Bauxite Reserves by 14m Tons

Financial Tribune - August 13th, 2017

Iran’s bauxite reserves increased by 14 million tons in the last fiscal year (ended March 20, 2017), as a result of Iran Alumina Company’s explorations, the company’s manager, Touraj Zare’, said.

New reserves of bauxite with alumina and silicon dioxide content at about 35-47% and 4-27% respectively were discovered at a depth of 16,000 meters during exploration, Iranian Mines and Mining Industries Development and Renovation Organization reported.

Bauxite and alumina represent the first two links in the value chain on the way to aluminum metal and eventually products. Bauxite is the most common raw material used to produce alumina for aluminum metal production. The white powder, alumina, is produced by refining bauxite.

“Iran Alumina Company plans to continue explorations in the current year,” Zare’ said, adding that the operations will be undertaken in Yazd, North Khorasan, Semnan and Kohgilouyeh-Boyerahmad provinces.

As a subsidiary of IMIDRO, Iran Alumina Company produced 196,291 tons of bauxite, 103,983 tons of aluminum hydroxide, 35,995 tons of lime and 61,166 tons of alumina powder during the first quarter of the current year (March 21-June 21).

India Projected to Mine 49.4 Million Metric Tons of Bauxite in 2021

Aluminium Insider - August 7th, 2017

India’s bauxite production is expected to more than double by 2021 to almost fifty million metric tons according to a recently-released report from London’s BMI Research.

According to the report, India’s production totaled 22.08 million metric tons last year, and production this year is expected to jump by eighteen percent, totaling 26.1 million metric tons. Trends indicate that the country’s overall bauxite ore production total in 2021 will reach 49.4 million metric tons.

Favorable Power Agreement May Result in Aluminium Capacity Restart: Century CEO Bless

Aluminium Insider - August 4th, 2017

Century Aluminum’s president and CEO told investors on Wednesday that his firm would instantly begin the process of reopening the 100 thousand metric tons per year of idled aluminium smelting capacity it has in the United States if the price it paid for power at its Mt. Holly smelter were lowered.

GE backs on-site gas-fired power for world’s largest single site smelter

Decentralized Energy - August 1st, 2017

GE Energy Financial Services, the energy investing unit of General Electric (NYSE:GE), supported the raise of ECA financing for Aluminium Bahrain's 1,792 MW combined-cycle gas-fired power plant in Bahrain, which will power on-site the world’s largest single-site smelter.

A GE Power and GAMA Power Systems consortium was awarded the contract for design, engineering, procurement, construction and commissioning of the power plant in 2016. Completion is expected in early 2019 and will enable Alba’s Line 6 Expansion Project to begin aluminum production, boosting its per-annum metal production by 540,000 metric tonnes.