HINDALCO likely to restart operations at Australia copper mine by end 2010

ET reported that Aditya Birla Group Company HINDALCO hopes to restart operations at its copper mine in Mount Gordon of Australia by end this calendar year.

Mr Debu Bhattacharya MD of HINDALCO said that the Australia mine which is now under maintenance will be restarted on account of higher international prices. The company's Atlanta based unit Novelis will increase its capacity by 20% by 2014. Novelis is a global producer of aluminum products.

Mr Bhattacharya said that our Atlanta based unit Novelis will increase its capacity through Brownfield expansions of plants in emerging markets. However, did not divulge details of the unit's present capacity.

He said that HINDALCO's net profit rose 26% at INR 433 crore for the quarter ended September 30th 2010 on the back of an improved realization and better product and geographic mix. The company had posted a PAT of INR 344 crore in the year ago period. The company is setting up 359 KTPA aluminum smelter along with 900 MW captive power plant in Orissa at a total cost of INR 9,200 crore.

Mr Bhattacharya said that the company is planning a refinery project of 1.5 million tonne per annum along with 90 MW co gen plant replica of the Utkal Alumina refinery in Orissa. The investment would be around INR 6,000 crore and this will be commissioned in FY 1014.

He said that the INR 10,000 crore Jharkhand Aluminum Project would have 359 KTPA aluminum smelter along with 900 MW captive power plant in Sonahatu for which land has been acquired. The coal mine has been allotted to the company jointly with TATA Power. It is planned for commissioning in FY 2014. There are several Brownfield projects such as the expansion of the Hirakud Smelter from 155 KTPA to 161 KTPA which is nearing completion. A further expansion from 161 KTPA to 213 KTPA along with 100 MW power plant will be completed in Q4 FY 2012.

He added that HINDALCO plans to expand the smelting capacity at Hirakud from the proposed 213 KTPA to 360 KTPA with a corresponding increase in back up captive power from the proposed 467.5 MW to 967.5 MW. Hirakud Flat Rolled Products Project is underway for the transfer of all key equipment from the Novelis Plant at Rogerstone, UK to Hirakud. The project is slated for completion in Q2 FY 2012.

（Sourced from Economic Times）