PSU NEWS
Nalco posts 18 percent growth in Bauxite production against world average of 2 point 72 percent
Bhubaneswar. “Aluminium market is in a slump and LME prices have come down by around 14% between 2015 and 2016. Globally, around 70% of the aluminium smelters have been incurring cash loss but Nalco has been consistently posting profits in the last 3 quarters,” said Dr. Tapan Kumar Chand, CMD NALCO while addressing the NALCO Famility gathering .
Nalco has changed its operation strategy to overcome the slowdown, from regulated production to maximizing production. The Company’s bauxite mine has posted production growth of 18% in the current fiscal and is expected to exceed its 100% capacity utilization.
It may be mentioned that the average growth of bauxite production is 2.72% and 3.81% in the World and China, respectively. The Company’s smelter plant will also exceed its MoU target, of 3.85 lakh tonnes, which was signed with the Ministry of Mines, Government of India.
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