NATIONALUM

NEW DELHI, Aug 28 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS will invest a total of 300 billion rupees ($3.43 billion) in a new smelter and a coal power plant over the next five years, Chairman and Managing Director Brijendra Pratap Singh said on Thursday.

The state-run aluminium producer will budget roughly 180 billion rupees to set up the proposed smelter in the eastern state of Odisha, Singh told reporters in New Delhi.

The project will be funded by a mix of debt and internal accruals, he added.

The remaining 120 billion rupees will be used to set up a coal power plant, for which it is in talks with Coal India COAL.NS and NTPC NTPC.NS, Singh said.

($1 = 87.5060 Indian rupees)

(Reporting by Sethuraman N R, writing by Hritam Mukherjee, Editing by Anil D'Silva)

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Aug 7 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NALCO DIVIDEND 2.5 RUPEESPER SHARE

• NALCO JUNE-QUARTER PROFIT 10.64 BILLION RUPEES

• NALCO JUNE-QUARTER REVENUE FROM OPERATIONS 38.07 BILLION RUPEES

Source text: [ID:]

Further company coverage: NALU.NS

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** India's metal stocks .NIFTYMET plunge 5.5% to hit a one-month low of 8,508.05; on course for the worst single-day percentage drop since June 2024

** Stocks fall amid decline in base metal prices due to fear that U.S. President Donald Trump's tariffs may hit global growth

** Hindalco HALC.NS, Tata Steel TISC.NS, Vedanta VDAN.NS, and National Aluminium Company NALU.NS slide 6%-7%, while JSW Steel JSTL.NS falls 4.3%

** "The second-order effect (of U.S. tariffs) will hurt India more. We are now assuming a severe U.S. recession and a significant short-term correction in global commodities. Metals will be hit the most," says Emkay Global Financial Services

** Metal index slips into losses YTD, down 1.6%, vs 3% drop in benchmark Nifty 50 .NSEI

(Reporting by Vivek Kumar M)

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By Neha Arora

NEW DELHI, March 28 (Reuters) - Four Indian state firms are in talks with Chilean miner SQM SQMA.SN to acquire a 20% stake in its two lithium projects in Australia for $600 million, four sources said, in New Delhi's biggest effort to secure supplies of the key EV battery metal.

Government-backed Khanij Bidesh India Ltd (KABIL) has partnered with Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS to seek the 20% stake in SQM's Mount Holland and Andover lithium projects in Western Australia, the sources said.

The sources did not wish to be named as the deliberations were not public.

SQM is the world's second-largest lithium producer.

India, the world's fastest-growing major economy, has intensified efforts to secure a steady supply of lithium, anticipating a surge in demand for the EV battery metal, which is critical to reducing carbon emissions from the world's third-largest emitter.

"This is so far India's biggest attempt to secure lithium supplies overseas," one of the sources said. "The due diligence is on, and the companies have expressed their interest with an initial offer."

KABIL, along with the three state companies, is in the process of appointing a mergers and acquisitions adviser for the deal, the sources said.

SQM, KABIL, Coal India, Oil India, and ONGC Videsh did not respond to Reuters' requests for comment.

India's plans to acquire stakes in SQM's projects have not been reported previously.

New Delhi formed KABIL - a joint venture between the state-owned National Aluminium Company, Hindustan Copper, and Mineral Exploration and Consultancy - a few years ago to acquire, develop, and process strategic minerals overseas for use in India.

India has recently stepped up efforts to secure overseas agreements for accessing critical minerals in resource-rich nations like Argentina, Australia, and Chile.

New Delhi is also exploring an initial agreement with cobalt-rich Congo.

Last year, KABIL signed an exploration and development agreement with a state-owned firm in Argentina for the exploration and mining of five lithium blocks.

Amid growing energy needs, India is trying to encourage EV production to reduce its reliance on fossil fuels.

EV sales in India accounted for just 2.5% of the 4.3 million cars sold in 2024, but their 20% growth rate outpaced the overall car market's 5% growth. Analysts expect sales to double in 2025 from 100,000 units in the previous year, mainly due to new launches.

(Reporting by Neha Arora; additional reporting by Melanie Burton in Melbourne; editing by Mayank Bhardwaj and Sonali Paul)

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By Neha Arora

NEW DELHI, Feb 10 (Reuters) - India's aluminium shipments to the U.S., its top export market for the metal, will likely drop due to tariffs proposed by Washington, prompting producers to look at other markets such as Europe, industry executives and a government source said on Monday.

U.S. President Donald Trump said on Sunday he would introduce new 25% tariffs on all steel and aluminium imports into the United States in another major escalation of his trade policy overhaul. He also said he would announce reciprocal tariffs on Tuesday or Wednesday.

Those measures would drag down India's aluminium exports to the United States, affecting the profitability of Indian producers, the executives and the source said.

Although Indian aluminium producers, which include Vedanta Aluminium and Hindalco Industries HALC.NS, could look to other markets in Europe and Southeast Asia, these would take time to absorb the additional supplies, they said.

"India is one of the major exporters to the U.S. and the tariffs will have a significant impact," B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries, the country's leading mining body, told Reuters.

"Some bilateral arrangement has to be made for concessional tariffs to ease the situation," Bhatia said.

Indian Prime Minister Narendra Modi is scheduled to meet Trump this week, and is likely to propose additional tariff cuts that could boost American exports to India and avoid a potential trade war between the two countries.

India, the world's second biggest primary aluminium producer, exported 0.2 million metric tons of aluminium to the U.S., worth 78.3 billion rupees ($894.4 million), in the year to March 2024, government data showed.

Unlike aluminium companies, India's steel producers are not expected to face significant setbacks as their supplies to the U.S. are smaller.

India could see an increase in steel shipments as other countries may divert cargoes to New Delhi due to the proposed U.S. tariffs on the alloy, they said.

The country became a net importer of steel in the 2023-24 fiscal year, and imports have steadily increased in recent months.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Jan Harvey)

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Jan 8 (Reuters) - National Aluminium Co Ltd NALU.NS:

• BRIJENDRA PRATAP SINGH JOINS AS CHAIRMAN-CUM-MANAGING DIRECTOR

Source text: ID:nBSE2vqnnx

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Dec 24 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO LTD - NALCO SIGNS MINING LEASE DEED FOR UTKAL-D AND UTKAL-E COAL BLOCK

• NATIONAL ALUMINIUM CO LTD - NALCO COAL PRODUCTION CAPACITY TO INCREASE TO 4.0 MTPA

Source text: ID:nNSEDlbgL

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Nov 13 (Reuters) - National Aluminium Co Ltd NALU.NS:

• SEPT-QUARTER CONSOL PROFIT 10.46 BILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 40.01 BILLION RUPEES

Source text: [ID:]

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Nov 1 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NALCO - SRIDHRA PATRA CEASES TO BE CHAIRMAN

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** Shares of National Aluminium Co NALU.NS rise 6.4% to 223.5 rupees

** Stock top pct gainer in Nifty metal index .NIFTYMET, which is flat

** Kotak Institutional Equities double upgrades NALU to "add" from "sell", hikes target price to 235 rupees from 160 rupees

** New TP is second highest among nine analysts tracking NALU

** NACL best placed to benefit from ongoing alumina supply tightness, given co's net long position and consequent tailwind in aluminium prices - Kotak

** Says ramp up in captive coal mines commissioning should keep costs on downtrend

** Mean rating of nine analysts is equivalent to "hold"; median price target is 185 rupees - LSEG data

** NALU up 69% YTD vs 28% rise in metal index .NIFTYMET

(Reporting by Bharath Rajeswaran in Bengaluru)

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Aug 28 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NALCO - MOU SIGNED BETWEEN KABIL AND OIL INDIA FOR COLLABORATION IN PROJECTS & EXPLORATION

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BENGALURU, Aug 12 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS reported a 76% jump in first-quarter profit on Monday as the company benefitted from shrinking costs and higher prices for the metal.

The state-owned firm's consolidated profit jumped to 5.88 billion rupees (about $70 million) year-on-year for the three months ended June 30.

Global prices of base metals, including aluminium, rose sharply during the quarter due to supply concerns and rising demand, analysts said.

Higher commodity prices tend to raise the selling price of metals, which help boost miners' margins.

The company reported a 35% decline in the cost of thermal coal and bauxite - key raw materials for aluminium. Its expenses, as a result, fell 24%.

However, its revenue from operations fell 10% to 28.56 billion rupees, owing to a 27% drop in its chemicals business, its second-biggest segment.

While the company's mainstay aluminium business contributed to nearly 90% of overall revenue, it grew a mere 4% during the quarter.

Going forward, domestic aluminium demand growth is expected to remain steady due to strong demand from the electrical, building and construction sectors and a demand recovery in consumer durables, Sumit Jhunjhunwala, assistant vice president and sector head of corporate ratings at ICRA, said.

Rival firm Vedanta VDAN.NS beat first-quarter profit estimates on higher aluminium prices, while Hindalco HALC.NS is set to report quarterly results later this week.

($1 = 83.9554 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Sonia Cheema)

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June 13 (Reuters) - National Aluminium Co Ltd NALU.NS:

• EXECUTED A MINING LEASE DEED WITH STATE GOVERNMENT OF ODISHA

• MINING LEASE DEED OVER AN AREA OF 697.979 HECTARES FOR BAUXITE MINES IN POTTANGI TEHSIL, KORAPUT DISTRICT

• BAUXITE MINES HAVE ANNUAL PRODUCTION CAPACITY OF 3.5 MILLION TONNES AND RESERVES ESTIMATED AT 111 MILLION TONNES

• MINE IS EXPECTED TO BECOME OPERATIONAL SOON

Source text for Eikon: ID:nNSE2sCdf0

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BENGALURU, May 27 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS reported fourth-quarter profit above estimates on Monday, helped by lower costs of key raw materials including thermal coal and bauxite.

Its consolidated profit before exceptional items and tax came in at 9.43 billion rupees (about $114 million) for the three months ended March 31, above analysts' average estimate of 6.38 billion rupees as per LSEG data.

NALCO incurred an exceptional cost of 4.27 billion rupees in the quarter, related to legal mining lease royalty payment to the government.

The state-owned firm's expenses were kept in check by lower prices of thermal coal and bauxite - key material for aluminium production, as it opted to source more domestic coal and bauxite in the quarter.

Its overall expenses fell to 27.20 billion rupees from 31.61 billion a year ago owing to a 22% decline in raw material costs.

Meanwhile, revenue from operations fell 2.5% to 35.79 billion rupees.

Lower costs were offset by a plunge in aluminium prices. The benchmark three-month aluminium on the London Metal Exchange CMAL3 averaged $2,241 a metric ton in January-March this year, down 8.2% from the same period in 2023.

Last week, rival Hindalco HALC.NS reported fourth-quarter profit above estimates on lower costs.

Shares of NALCO, a Nifty metal index constituent .NIFTYMET rose 16% in the quarter, compared with a 3.5% rise in the index.

($1 = 83.1020 Indian rupees)

(Reporting by Manvi Pant in Bengaluru
Editing by Tomasz Janowski)

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April 24 (Reuters) - National Aluminium Co Ltd NALU.NS:

• KABIL INKS MOU WITH CSIR-NGRI FOR ADVANCING GEOPHYSICAL INVESTIGATIONS IN CRITICAL, STRATEGIC MINERALS SECTOR

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April 10 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO LTD - KABIL AND CSIR-IMMT SIGNS MOU FOR TECHNICAL & KNOWLEDGE COOPERATION FOR CRITICAL MINERALS

Source text for Eikon: ID:nBSE3smnmG

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April 2 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO LTD - METAL PRODUCTION OF 4,63,428 METRIC TONNES IN FY 23-24

• NATIONAL ALUMINIUM CO LTD - METAL SALE OF 4,70,108 METRIC TONNES IN FY 23-24

• NATIONAL ALUMINIUM CO LTD - BAUXITE EXCAVATION OF 76,00,230 METRIC TONNES IN FY 23-24

Source text for Eikon: ID:nNSE5Pwv6P

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By Neha Arora

NEW DELHI, March 28 (Reuters) - India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi's efforts to speed up the energy transition stoke demand for critical minerals.

Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems in the push away from fossil fuels.

As part of India's drive to explore overseas for mineral assets, state firms National Aluminium Company, Hindustan Copper and unlisted Mineral Exploration and Consultancy have set up a company called Khanij Bidesh India (KABIL).

"KABIL has to send a delegation to Chile in April," said the source, who did not wish to be named as details of the plan have not been made public.

"We are interested in buying assets. We are trying to facilitate private and government-owned companies to acquire assets in other countries as well."

The government is separately sending a delegation to look for copper assets, the source said.

The federal Ministry of Mines and KABIL did not respond to Reuters emails for comments.

India, the world's third-biggest emitter of greenhouse gases behind China and the United States, has pledged to achieve a net-zero carbon emission target by 2070 and increase the share of renewables in its energy mix to 50% by 2030.

In January, KABIL signed a 2-billion-rupee ($24.01 million) lithium exploration pact for five blocks in Argentina. The deal, signed with an Argentinian state-run enterprise, gives KABIL exploration and development rights for commercial production.

KABIL, which is currently setting up an office in Argentina, is also in talks with another company in the Latin American country for lithium exploration, the source said.

At the same time, KABIL is talking to the Australian government to help appoint a consultant to restart due diligence that would pave the way for a lithium block acquisition in the country, the source said.

India is also looking at Africa for copper, cobalt and other critical minerals, V.L. Kantha Rao, the most senior official at the Ministry of Mines, said last week.

India is in the process of auctioning 38 critical and strategic minerals blocks, including lithium.

($1 = 83.30 rupees)

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Sonali Paul)

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Feb 13 (Reuters) - National Aluminium Co Ltd NALU.NS:

• CORPORATE ACTION-BOARD APPROVES DIVIDEND

• INTERIM DIVIDEND OF 2 RUPEES PER SHARE

Source text for Eikon: ID:nBSE1n4mQ8

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Jan 15 (Reuters) - National Aluminium Co Ltd NALU.NS:

• INDIA'S KABIL & ARGENTINA'S CAMYEN SE SIGN AGREEMENT FOR EXPLORATION & MINING OF LITHIUM

Source text for Eikon: ID:nBSE9r25Pm

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BENGALURU, Nov 9 (Reuters) - India's National Aluminium Company (NALCO)NALU.NS on Thursday reported an almost 50% rise in second-quarter profit as sustained government spending on infrastructure boosted demand for the metal produced by the state-run manufacturer.

Consolidated profit for the quarter ended Sept. 30 rose to 1.87 billion rupees ($22.45 million) from 1.25 billion rupees a year ago, the company said in an exchange filing.

India, the world's second biggest aluminium producer, has amped up infrastructure spending ahead of general elections next year, helping companies like NALCO and rival Hindalco Industries HALC.NS.

NALCO recorded a near-14% jump in pre-tax profit in mainstay aluminium segment, which accounted for around 80% of the total pre-tax profit.

The chemicals segment which makes chemicals like calcined alumina, used in refractory and ceramics industry also posted a 27.7% rise in pre-tax profit to 1.12 billion rupees.

Revenue from operations fell 12.8% to 30.43 billion rupees amid a 2% rise in raw material costs.

Hindalco will report September-quarter results on Friday.

($1 = 83.2800 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Nivedita Bhattacharjee)

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By Polina Devitt, Rajendra Jadhav and Siyi Liu

LONDON, Sept 14 (Reuters) - Russia has stepped up imports of the aluminium feedstock alumina from India in recent months to supply its vast Siberian plants, a move that diversifies the sanctions-hit country's supply, helps reduce dependence on China and cuts costs.

After invading Ukraine, the world's second biggest producer of aluminium lost two crucial sources of alumina, used to make aluminium metal, as a refinery in Ukraine suspended production and Australia banned supplies to Russia.

While Russia and China are on friendly terms, aluminium production in China is rising, leaving less price flexibility for Russia to buy alumina.

Russia's Rusal 0486.HK, the world's largest aluminium producer outside China, needs to fill the gap left by suspended supplies to sustain domestic production while aiming to protect its margins against a weaker aluminium price backdrop.

The company's own alumina assets in Russia, Ireland, Jamaica and Guinea supply 70% of its needs, or 5.5 million metric tons.

"After deliveries from Ukraine and Australia were lost, Rusal replaced it with increased alumina imports from China and other refineries in Asia, but it came at a considerable cost," Ami Shivkar at WoodMac said.

Russia became the largest buyer of alumina from China last year. Rusal's cost of purchasing alumina jumped by $1.1 billion to $1.8 billion in 2022 as it had to pay more for the raw material and for delivery.

Rusal has since diversified by securing alumina supplies from India and Kazakhstan.

"We can already say that the company's total alumina costs will decrease in 2023 compared to 2022," Rusal told Reuters.

Russia was the second largest buyer of Indian alumina in the first half of this year, Indian customs data show, with India exporting 189,379 metric tons to Russia. There were no exports in the same period of 2022.

"Russia encountered difficulties in securing alumina from developed nations and forced it to switch to India," an Indian industry official, who declined to be named, told Reuters.

India's state-run National Aluminium Co NALCO.NS is the primary supplier of alumina to Russia, the official said.

Nalco did not respond Reuters' request for comment.

Russia is expected to buy more than 350,000 tonnes of alumina from India in 2023, the official said. The estimate is broadly in line with Rusal's own calculations, it told Reuters.

China remains the largest third-party supplier of alumina to Russia with shipments of 485,160 tons in January-June, but it has less alumina to offer this year due to rising domestic aluminium production.

Aluminium of Kazakhstan, which produces 1.3 million tons of alumina a year, plans to reduce supplies to Russia by 5% in 2023 as it also needs more product for itself, its owner Eurasian Resources Group told Reuters.

The company did not say how much alumina it sends to Russia, however CRU consultancy estimates Kazakh deliveries to Russia at around 40,000-70,000 tons per month.

Rusal needs to buy about 2.5 million tons of alumina a year from outside its own system.

Its Aughinish refinery in Ireland which produces 1.6 million tonnes a year, sends only 40% of its production to Russia. The remainder goes to Europe.

Jamaica supplied 190,070 tons of alumina to Russia in the first half of 2023, the Jamaica Bauxite Institute told Reuters.

Russian alumina purchases have been too small to affect the global market, estimated at 60 million tonnes outside China and dominated by Australia.

However, the need to import alumina means Rusal will rely on the price and the supply-demand balance of the global alumina market for at least five years.

"Despite the fact that we were able to restructure our raw material supply chains in time, we still feel significant dependence on imported alumina," Rusal said.

"To mitigate the risks ..., we have decided to consider a project to build a plant in Russia."

Rusal said in June it would build a $4.8 billion plant to make alumina in a Russian Baltic Sea port. The first phase of production with annual capacity of up to 2.4 million tons will be commissioned by the end of 2028.

(Reporting by Polina Devitt in London, Rajendra Jadhav in Mumbai and Siyi Liu in Beijing; additional reporting by Mariya Gordeyeva in Almaty and Fransiska Nangoy in Jakarta;
Editing by Pratima Desai and David Evans)

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Aug 11 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO.LTD. - 532234 - BOARD MEETING OUTCOME FOR UNAUDITED FINANCIAL RESULTS (STANDALONE & CONSOLIDATED) FOR THE QUARTER ENDED 30.06.2023 AND RECOMMENDATION OF FINAL DIVIDEND FOR THE FINANCIAL YEAR 2022-23.

• INDIA'S NATIONAL ALUMINIUM COMPANY JUNE-QUARTER CONSOL PROFIT 3.34 BILLION RUPEES VERSUS 5.58 BILLION RUPEES

• INDIA'S NATIONAL ALUMINIUM COMPANY JUNE-QUARTER CONSOL PROFIT 3.34 BILLION RUPEES VERSUS 5.58 BILLION RUPEES

• NATIONAL ALUMINIUM COMPANY JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 31.78 BILLION RUPEES VERSUS 37.95 BILLION RUPEES

• NATIONAL ALUMINIUM CO LTD- FINAL DIVIDEND 1 RUPEEPER SHARE

Source text for Eikon: ID:nBSE13JTNT

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By Sarita Chaganti Singh

NEW DELHI, July 17 (Reuters) - Coal India Ltd COAL.NS, a government-owned port, and a state waterways body, are together considering investing up to 120 billion rupees ($1.46 billion) to establish an industrial water transport corridor in the country's east, two government sources said.

The corridor, which could potentially carry 12 to 15 million tonnes of cargo by 2030, would connect two ports in the eastern state of Odisha via the Brahmi river, the sources said on Monday.

The plan by state-backed Coal India, Paradip Port Authority and the Inland Waterways Authority of India would cater to a major industrial cluster in India, and it would be primarily used for the movement of finished products such as steel, aluminum, sponge iron, and fertilisers, they said.

Coal India, Paradip Port, the Inland Waterways Authority, the Ministry of Mines, and the Ministry of Ports, Shipping and Waterways did not immediately respond to requests for comment.

The project aims to de-congest and take pressure off the existing rail and road infrastructure in a region that is dotted with mines as well as steel and fertiliser plants, said the sources, who declined to give their names because they were not permitted to speak to the media.

Transportation costs via waterways are roughly two-thirds of railways and half of the costs incurred on road transportation.

The corridor would also help move coal to power stations in some of India's relatively industrialised southern and western states, some of which were hit by power cuts due to coal shortages triggered by the unavailability of railway rakes.

State-owned Indian Railways currently transport the bulk of coal that goes to power stations.

The proposed corridor will also connect four key industrial clusters of Odisha.

The four clusters house big power, electricity and fertiliser companies such as Jindal Steel and PowerJNSP.NS, Adani Enterprises ADEL.NS, Tata SteelTISC.NS, ArcelorMittal MT.LU, National Aluminium CoNALU.NS, NTPCNTPC.NS and Indian Farmers Fertiliser Cooperative.

After the waterway becomes operational, private and public companies would be invited to operate terminal and cargo services, the sources said.

A detailed project report will be finalised in the next four to five months, they said.

(Reporting by Sarita Chaganti Singh; editing by Mayank Bhardwaj and Conor Humphries)

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June 6 (Reuters) - Engineers India Ltd ENGI.NS:

• NATIONAL ALUMINIUM CO SELECTS CO FOR PROVIDING CONSULTANCY SERVICES FOR UPDATION OF DETAILED PROJECT REPORT

• DETAILED PROJECT REPORT FOR POTTANGI BAUXITE MINES FOR ENHANCING RAW-ORE PRODUCTION

• JINDAL STEEL AND POWER, CO SIGNED CONTRACT FOR SUPPLY OF BASIC ENGINEERING AND DETAIL ENGINEERING

• CONTRACT WITH JSPL FOR 155 MILLION RUPEES

• CONTRACT VALUE WITH NALCO FOR 50.5 MILLION RUPEES

Source text for Eikon: ID:nBSEbXvbfX

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