National Aluminium
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Repeats September 18 item with no changes
China's 2023 export curbs have hit prices, supply
Gallium, germanium prices at record levels outside China
Firms await planned Western production to ease their pain
Demand keeps rising, spurred in part by AI
S&P Global forecasts point to sustained Chinese dominance
By Ashitha Shivaprasad
Sept 18 (Reuters) - Three years on from China curbing exports of two niche metals vital to the chipmaking, clean energy and defence sectors, the West is still feeling the price pain and waiting for its own production to come to the rescue.
The export curbs on gallium and germanium have forced Western companies to stockpile, seek alternative supplies, and explore new designs and substitutes.
But the decisive response is only now taking shape, with several Western production projects announced in recent months aimed at finally breaking China's stranglehold on the niche but vital market.
With prices now at 9 to 10 times 2023 levels, that new supply cannot come soon enough.
"These export controls have acted as a real wake-up call... In response, companies are increasingly diversifying their procurement strategies, turning to recycling, alternative suppliers and emerging non-China projects where possible," said Cristina Belda, senior analyst at Argus.
Manufacturers of infrared optics used in defence and thermal imaging systems have particularly struggled with tight supply, she said.
AI CONTRIBUTING TO RISING DEMAND
While production projects take shape, the AI boom, expanding fibreoptic networks and growing use of infrared imaging are pushing up demand.
Gallium demand is seen rising by about 12% per year through 2030 from about 1,000 metric tons in 2025, preliminary S&P Global estimates show.
Global germanium demand is set to rise by 3.3% annually over the same period from an estimated 343 tons in 2025, S&P Global said.
Yet consultancy Project Blue estimates China in 2025 still accounted for 98.9% of primary gallium supply and 68.6% of germanium supply, underscoring the scant progress made so far in reducing China's dominance.
In introducing its export controls in 2023, later expanded to include rare earths and other critical minerals, Beijing used that dominance as leverage in trade and other disputes.
METALS SUBSTITUTION
Replacing either metal — primarily byproducts of alumina and zinc processing — with other materials brings its own challenges.
"There is no one-to-one substitute for germanium," said Jessica DeGroote Nelson, senior vice president of precision optics at US-based Edmund Optics, noting using other materials would require redesigns.
"It's not impossible, but it is very challenging."
A source at another optics company said it has succeeded in switching to substitutes in some applications, halving germanium use over the past 18 months, using Western suppliers and raising its prices.
"We do have many customers who are willing to purchase at current prices, the issue here is the availability of supply," the person said.
Industry participants say gallium arsenide is being replaced by indium phosphide in some semiconductor applications while zinc selenide, zinc sulphide, silicon and chalcogenide glass are gaining traction as germanium alternatives in some infrared applications. Still, all those require costly technological adjustments that take time, industry insiders say.
Stockpiling is another response. DeGroote Nelson said some customers buy germanium before designs are even finalised in order to ensure availability when production begins.
Recycling is yet another route being taken by US-based Lattice Materials, which uses germanium to produce crystals for displays in fighter jets, tanks and other military equipment.
"We don't see supply loosening up anytime in the near-term," company president Travis Wood told Reuters.
"Every data point we've seen shows prices to at least stay at current high levels or even continue the upward trend," Wood said.
Belgium's Umicore UMI.BR has also been working with STL, a unit of Gécamines that processes mining waste in the Democratic Republic of Congo, to boost germanium recovery.
PLAYING CATCH-UP
As the race to build new supply gathers momentum, the pressure from ever rising demand means some producers say they are already playing catch-up.
In Greece, METLEN MTLN.L, which has begun pilot-scale production and aims to produce 50 tons of gallium annually by 2028, says demand from potential customers now already exceeds that target several times.
In April, Australia and the US pledged over $3.5 billion to support a range of critical minerals projects, including gallium and germanium, nearly doubling an initial amount agreed last year.
Underscoring the need for that support, S&P Global expects ex-China gallium supply capacity to total 20 tons by the end of 2026, leaving a supply gap of about 678 tons. Non-Chinese germanium metal production is seen at 31 tons, or 177 tons short of demand.
Jack Bedder, founder and director of consultancy Project Blue, told Reuters that the emergence of credible projects with government support offers a chance for greater diversification, but the economies of scale still favour China with its enormous capacity and production costs new Western projects will struggle to match.
"We think a material reduction in dependence is achievable over five years, but eliminating dependence on China is much less realistic."
Government support such as price floors will probably be needed to bring new supply and ensure its long-term commercial viability, said Piyush Goel, consultant at London-based consultancy CRU.
By 2030, S&P Global estimates eight announced projects, including Wagerup in Australia and Clarksville in the United States, could boost ex-China gallium supply to about 386 tons from roughly 5 tons currently.
Yet even that will leave ex-China demand looking to China for 65% of its supply, Reuters calculations based on S&P data show.
New germanium projects in Canada, South Korea and the United States are expected to help lift ex-China germanium refining capacity to 126 tons by 2030. But even with five ex-China refineries potentially operating, capacity would cover only about 48% of projected ex-China demand, according to S&P.
EARLY STAGES
Several of the announced gallium projects, including those planned by METLEN in Greece, Alcoa AA.N and Sojitz in Australia, Rio Tinto RIO.AX and Indium Corporation in Canada, and Nalco NALU.NS in India, are still being developed and have yet to reach full commercial production.
New entrants complement those efforts — Korea Zinc is developing gallium and germanium capacity at home and at a planned Tennessee refinery, and US-based ReElement Technologies is developing a refining complex in Indiana.
Titan Mining, a zinc and graphite producer, expects to start germanium production in New York state by year-end at 2.5 to 3 tons, or about 7% to 10% of US demand.
At the same time, a handful of established non-Chinese germanium suppliers are working to boost their output.
Canada's Teck Resources TECKb.TO struck a deal with Ottawa in July to support an expansion of production at its facility in Trail, British Columbia.
Gallium, germanium demand breakdown as of 2025 https://tmsnrt.rs/4iilLdm
Demand and Supply (Ge,Ga) https://tmsnrt.rs/4xkz4xF
Germanium gallium price chart https://tmsnrt.rs/4cT73pE
Chinese gallium and germanium exports https://tmsnrt.rs/479p3sh
(Reporting by Ashitha Shivaprasad; additional reporting by Eric Onstad, Ernest Scheyder, Solomon Cefai and Divya Rajagopal; editing by Pratima Desai, Tomasz Janowski and Jason Neely)
Repeats September 18 item with no changes
China's 2023 export curbs have hit prices, supply
Gallium, germanium prices at record levels outside China
Firms await planned Western production to ease their pain
Demand keeps rising, spurred in part by AI
S&P Global forecasts point to sustained Chinese dominance
By Ashitha Shivaprasad
Sept 18 (Reuters) - Three years on from China curbing exports of two niche metals vital to the chipmaking, clean energy and defence sectors, the West is still feeling the price pain and waiting for its own production to come to the rescue.
The export curbs on gallium and germanium have forced Western companies to stockpile, seek alternative supplies, and explore new designs and substitutes.
But the decisive response is only now taking shape, with several Western production projects announced in recent months aimed at finally breaking China's stranglehold on the niche but vital market.
With prices now at 9 to 10 times 2023 levels, that new supply cannot come soon enough.
"These export controls have acted as a real wake-up call... In response, companies are increasingly diversifying their procurement strategies, turning to recycling, alternative suppliers and emerging non-China projects where possible," said Cristina Belda, senior analyst at Argus.
Manufacturers of infrared optics used in defence and thermal imaging systems have particularly struggled with tight supply, she said.
AI CONTRIBUTING TO RISING DEMAND
While production projects take shape, the AI boom, expanding fibreoptic networks and growing use of infrared imaging are pushing up demand.
Gallium demand is seen rising by about 12% per year through 2030 from about 1,000 metric tons in 2025, preliminary S&P Global estimates show.
Global germanium demand is set to rise by 3.3% annually over the same period from an estimated 343 tons in 2025, S&P Global said.
Yet consultancy Project Blue estimates China in 2025 still accounted for 98.9% of primary gallium supply and 68.6% of germanium supply, underscoring the scant progress made so far in reducing China's dominance.
In introducing its export controls in 2023, later expanded to include rare earths and other critical minerals, Beijing used that dominance as leverage in trade and other disputes.
METALS SUBSTITUTION
Replacing either metal — primarily byproducts of alumina and zinc processing — with other materials brings its own challenges.
"There is no one-to-one substitute for germanium," said Jessica DeGroote Nelson, senior vice president of precision optics at US-based Edmund Optics, noting using other materials would require redesigns.
"It's not impossible, but it is very challenging."
A source at another optics company said it has succeeded in switching to substitutes in some applications, halving germanium use over the past 18 months, using Western suppliers and raising its prices.
"We do have many customers who are willing to purchase at current prices, the issue here is the availability of supply," the person said.
Industry participants say gallium arsenide is being replaced by indium phosphide in some semiconductor applications while zinc selenide, zinc sulphide, silicon and chalcogenide glass are gaining traction as germanium alternatives in some infrared applications. Still, all those require costly technological adjustments that take time, industry insiders say.
Stockpiling is another response. DeGroote Nelson said some customers buy germanium before designs are even finalised in order to ensure availability when production begins.
Recycling is yet another route being taken by US-based Lattice Materials, which uses germanium to produce crystals for displays in fighter jets, tanks and other military equipment.
"We don't see supply loosening up anytime in the near-term," company president Travis Wood told Reuters.
"Every data point we've seen shows prices to at least stay at current high levels or even continue the upward trend," Wood said.
Belgium's Umicore UMI.BR has also been working with STL, a unit of Gécamines that processes mining waste in the Democratic Republic of Congo, to boost germanium recovery.
PLAYING CATCH-UP
As the race to build new supply gathers momentum, the pressure from ever rising demand means some producers say they are already playing catch-up.
In Greece, METLEN MTLN.L, which has begun pilot-scale production and aims to produce 50 tons of gallium annually by 2028, says demand from potential customers now already exceeds that target several times.
In April, Australia and the US pledged over $3.5 billion to support a range of critical minerals projects, including gallium and germanium, nearly doubling an initial amount agreed last year.
Underscoring the need for that support, S&P Global expects ex-China gallium supply capacity to total 20 tons by the end of 2026, leaving a supply gap of about 678 tons. Non-Chinese germanium metal production is seen at 31 tons, or 177 tons short of demand.
Jack Bedder, founder and director of consultancy Project Blue, told Reuters that the emergence of credible projects with government support offers a chance for greater diversification, but the economies of scale still favour China with its enormous capacity and production costs new Western projects will struggle to match.
"We think a material reduction in dependence is achievable over five years, but eliminating dependence on China is much less realistic."
Government support such as price floors will probably be needed to bring new supply and ensure its long-term commercial viability, said Piyush Goel, consultant at London-based consultancy CRU.
By 2030, S&P Global estimates eight announced projects, including Wagerup in Australia and Clarksville in the United States, could boost ex-China gallium supply to about 386 tons from roughly 5 tons currently.
Yet even that will leave ex-China demand looking to China for 65% of its supply, Reuters calculations based on S&P data show.
New germanium projects in Canada, South Korea and the United States are expected to help lift ex-China germanium refining capacity to 126 tons by 2030. But even with five ex-China refineries potentially operating, capacity would cover only about 48% of projected ex-China demand, according to S&P.
EARLY STAGES
Several of the announced gallium projects, including those planned by METLEN in Greece, Alcoa AA.N and Sojitz in Australia, Rio Tinto RIO.AX and Indium Corporation in Canada, and Nalco NALU.NS in India, are still being developed and have yet to reach full commercial production.
New entrants complement those efforts — Korea Zinc is developing gallium and germanium capacity at home and at a planned Tennessee refinery, and US-based ReElement Technologies is developing a refining complex in Indiana.
Titan Mining, a zinc and graphite producer, expects to start germanium production in New York state by year-end at 2.5 to 3 tons, or about 7% to 10% of US demand.
At the same time, a handful of established non-Chinese germanium suppliers are working to boost their output.
Canada's Teck Resources TECKb.TO struck a deal with Ottawa in July to support an expansion of production at its facility in Trail, British Columbia.
Gallium, germanium demand breakdown as of 2025 https://tmsnrt.rs/4iilLdm
Demand and Supply (Ge,Ga) https://tmsnrt.rs/4xkz4xF
Germanium gallium price chart https://tmsnrt.rs/4cT73pE
Chinese gallium and germanium exports https://tmsnrt.rs/479p3sh
(Reporting by Ashitha Shivaprasad; additional reporting by Eric Onstad, Ernest Scheyder, Solomon Cefai and Divya Rajagopal; editing by Pratima Desai, Tomasz Janowski and Jason Neely)
China's 2023 export curbs have hit prices, supply
Gallium, germanium prices at record levels outside China
Firms await planned Western production to ease their pain
Demand keeps rising, spurred in part by AI
S&P Global forecasts point to sustained Chinese dominance
By Ashitha Shivaprasad
Sept 18 (Reuters) - Three years on from China curbing exports of two niche metals vital to the chipmaking, clean energy and defence sectors, the West is still feeling the price pain and waiting for its own production to come to the rescue.
The export curbs on gallium and germanium have forced Western companies to stockpile, seek alternative supplies, and explore new designs and substitutes.
But the decisive response is only now taking shape, with several Western production projects announced in recent months aimed at finally breaking China's stranglehold on the niche but vital market.
With prices now at 9 to 10 times 2023 levels, that new supply cannot come soon enough.
"These export controls have acted as a real wake-up call... In response, companies are increasingly diversifying their procurement strategies, turning to recycling, alternative suppliers and emerging non-China projects where possible," said Cristina Belda, senior analyst at Argus.
Manufacturers of infrared optics used in defence and thermal imaging systems have particularly struggled with tight supply, she said.
AI CONTRIBUTING TO RISING DEMAND
While production projects take shape, the AI boom, expanding fibreoptic networks and growing use of infrared imaging are pushing up demand.
Gallium demand is seen rising by about 12% per year through 2030 from about 1,000 metric tons in 2025, preliminary S&P Global estimates show.
Global germanium demand is set to rise by 3.3% annually over the same period from an estimated 343 tons in 2025, S&P Global said.
Yet consultancy Project Blue estimates China in 2025 still accounted for 98.9% of primary gallium supply and 68.6% of germanium supply, underscoring the scant progress made so far in reducing China's dominance.
In introducing its export controls in 2023, later expanded to include rare earths and other critical minerals, Beijing used that dominance as leverage in trade and other disputes.
METALS SUBSTITUTION
Replacing either metal — primarily byproducts of alumina and zinc processing — with other materials brings its own challenges.
"There is no one-to-one substitute for germanium," said Jessica DeGroote Nelson, senior vice president of precision optics at US-based Edmund Optics, noting using other materials would require redesigns.
"It's not impossible, but it is very challenging."
A source at another optics company said it has succeeded in switching to substitutes in some applications, halving germanium use over the past 18 months, using Western suppliers and raising its prices.
"We do have many customers who are willing to purchase at current prices, the issue here is the availability of supply," the person said.
Industry participants say gallium arsenide is being replaced by indium phosphide in some semiconductor applications while zinc selenide, zinc sulphide, silicon and chalcogenide glass are gaining traction as germanium alternatives in some infrared applications. Still, all those require costly technological adjustments that take time, industry insiders say.
Stockpiling is another response. DeGroote Nelson said some customers buy germanium before designs are even finalised in order to ensure availability when production begins.
Recycling is yet another route being taken by US-based Lattice Materials, which uses germanium to produce crystals for displays in fighter jets, tanks and other military equipment.
"We don't see supply loosening up anytime in the near-term," company president Travis Wood told Reuters.
"Every data point we've seen shows prices to at least stay at current high levels or even continue the upward trend," Wood said.
Belgium's Umicore UMI.BR has also been working with STL, a unit of Gécamines that processes mining waste in the Democratic Republic of Congo, to boost germanium recovery.
PLAYING CATCH-UP
As the race to build new supply gathers momentum, the pressure from ever rising demand means some producers say they are already playing catch-up.
In Greece, METLEN MTLN.L, which has begun pilot-scale production and aims to produce 50 tons of gallium annually by 2028, says demand from potential customers now already exceeds that target several times.
In April, Australia and the US pledged over $3.5 billion to support a range of critical minerals projects, including gallium and germanium, nearly doubling an initial amount agreed last year.
Underscoring the need for that support, S&P Global expects ex-China gallium supply capacity to total 20 tons by the end of 2026, leaving a supply gap of about 678 tons. Non-Chinese germanium metal production is seen at 31 tons, or 177 tons short of demand.
Jack Bedder, founder and director of consultancy Project Blue, told Reuters that the emergence of credible projects with government support offers a chance for greater diversification, but the economies of scale still favour China with its enormous capacity and production costs new Western projects will struggle to match.
"We think a material reduction in dependence is achievable over five years, but eliminating dependence on China is much less realistic."
Government support such as price floors will probably be needed to bring new supply and ensure its long-term commercial viability, said Piyush Goel, consultant at London-based consultancy CRU.
By 2030, S&P Global estimates eight announced projects, including Wagerup in Australia and Clarksville in the United States, could boost ex-China gallium supply to about 386 tons from roughly 5 tons currently.
Yet even that will leave ex-China demand looking to China for 65% of its supply, Reuters calculations based on S&P data show.
New germanium projects in Canada, South Korea and the United States are expected to help lift ex-China germanium refining capacity to 126 tons by 2030. But even with five ex-China refineries potentially operating, capacity would cover only about 48% of projected ex-China demand, according to S&P.
EARLY STAGES
Several of the announced gallium projects, including those planned by METLEN in Greece, Alcoa AA.N and Sojitz in Australia, Rio Tinto RIO.AX and Indium Corporation in Canada, and Nalco NALU.NS in India, are still being developed and have yet to reach full commercial production.
New entrants complement those efforts — Korea Zinc is developing gallium and germanium capacity at home and at a planned Tennessee refinery, and US-based ReElement Technologies is developing a refining complex in Indiana.
Titan Mining, a zinc and graphite producer, expects to start germanium production in New York state by year-end at 2.5 to 3 tons, or about 7% to 10% of US demand.
At the same time, a handful of established non-Chinese germanium suppliers are working to boost their output.
Canada's Teck Resources TECKb.TO struck a deal with Ottawa in July to support an expansion of production at its facility in Trail, British Columbia.
Gallium, germanium demand breakdown as of 2025 https://tmsnrt.rs/4iilLdm
Demand and Supply (Ge,Ga) https://tmsnrt.rs/4xkz4xF
Germanium gallium price chart https://tmsnrt.rs/4cT73pE
Chinese gallium and germanium exports https://tmsnrt.rs/479p3sh
(Reporting by Ashitha Shivaprasad; additional reporting by Eric Onstad, Ernest Scheyder, Solomon Cefai and Divya Rajagopal; editing by Pratima Desai, Tomasz Janowski and Jason Neely)
China's 2023 export curbs have hit prices, supply
Gallium, germanium prices at record levels outside China
Firms await planned Western production to ease their pain
Demand keeps rising, spurred in part by AI
S&P Global forecasts point to sustained Chinese dominance
By Ashitha Shivaprasad
Sept 18 (Reuters) - Three years on from China curbing exports of two niche metals vital to the chipmaking, clean energy and defence sectors, the West is still feeling the price pain and waiting for its own production to come to the rescue.
The export curbs on gallium and germanium have forced Western companies to stockpile, seek alternative supplies, and explore new designs and substitutes.
But the decisive response is only now taking shape, with several Western production projects announced in recent months aimed at finally breaking China's stranglehold on the niche but vital market.
With prices now at 9 to 10 times 2023 levels, that new supply cannot come soon enough.
"These export controls have acted as a real wake-up call... In response, companies are increasingly diversifying their procurement strategies, turning to recycling, alternative suppliers and emerging non-China projects where possible," said Cristina Belda, senior analyst at Argus.
Manufacturers of infrared optics used in defence and thermal imaging systems have particularly struggled with tight supply, she said.
AI CONTRIBUTING TO RISING DEMAND
While production projects take shape, the AI boom, expanding fibreoptic networks and growing use of infrared imaging are pushing up demand.
Gallium demand is seen rising by about 12% per year through 2030 from about 1,000 metric tons in 2025, preliminary S&P Global estimates show.
Global germanium demand is set to rise by 3.3% annually over the same period from an estimated 343 tons in 2025, S&P Global said.
Yet consultancy Project Blue estimates China in 2025 still accounted for 98.9% of primary gallium supply and 68.6% of germanium supply, underscoring the scant progress made so far in reducing China's dominance.
In introducing its export controls in 2023, later expanded to include rare earths and other critical minerals, Beijing used that dominance as leverage in trade and other disputes.
METALS SUBSTITUTION
Replacing either metal — primarily byproducts of alumina and zinc processing — with other materials brings its own challenges.
"There is no one-to-one substitute for germanium," said Jessica DeGroote Nelson, senior vice president of precision optics at US-based Edmund Optics, noting using other materials would require redesigns.
"It's not impossible, but it is very challenging."
A source at another optics company said it has succeeded in switching to substitutes in some applications, halving germanium use over the past 18 months, using Western suppliers and raising its prices.
"We do have many customers who are willing to purchase at current prices, the issue here is the availability of supply," the person said.
Industry participants say gallium arsenide is being replaced by indium phosphide in some semiconductor applications while zinc selenide, zinc sulphide, silicon and chalcogenide glass are gaining traction as germanium alternatives in some infrared applications. Still, all those require costly technological adjustments that take time, industry insiders say.
Stockpiling is another response. DeGroote Nelson said some customers buy germanium before designs are even finalised in order to ensure availability when production begins.
Recycling is yet another route being taken by US-based Lattice Materials, which uses germanium to produce crystals for displays in fighter jets, tanks and other military equipment.
"We don't see supply loosening up anytime in the near-term," company president Travis Wood told Reuters.
"Every data point we've seen shows prices to at least stay at current high levels or even continue the upward trend," Wood said.
Belgium's Umicore UMI.BR has also been working with STL, a unit of Gécamines that processes mining waste in the Democratic Republic of Congo, to boost germanium recovery.
PLAYING CATCH-UP
As the race to build new supply gathers momentum, the pressure from ever rising demand means some producers say they are already playing catch-up.
In Greece, METLEN MTLN.L, which has begun pilot-scale production and aims to produce 50 tons of gallium annually by 2028, says demand from potential customers now already exceeds that target several times.
In April, Australia and the US pledged over $3.5 billion to support a range of critical minerals projects, including gallium and germanium, nearly doubling an initial amount agreed last year.
Underscoring the need for that support, S&P Global expects ex-China gallium supply capacity to total 20 tons by the end of 2026, leaving a supply gap of about 678 tons. Non-Chinese germanium metal production is seen at 31 tons, or 177 tons short of demand.
Jack Bedder, founder and director of consultancy Project Blue, told Reuters that the emergence of credible projects with government support offers a chance for greater diversification, but the economies of scale still favour China with its enormous capacity and production costs new Western projects will struggle to match.
"We think a material reduction in dependence is achievable over five years, but eliminating dependence on China is much less realistic."
Government support such as price floors will probably be needed to bring new supply and ensure its long-term commercial viability, said Piyush Goel, consultant at London-based consultancy CRU.
By 2030, S&P Global estimates eight announced projects, including Wagerup in Australia and Clarksville in the United States, could boost ex-China gallium supply to about 386 tons from roughly 5 tons currently.
Yet even that will leave ex-China demand looking to China for 65% of its supply, Reuters calculations based on S&P data show.
New germanium projects in Canada, South Korea and the United States are expected to help lift ex-China germanium refining capacity to 126 tons by 2030. But even with five ex-China refineries potentially operating, capacity would cover only about 48% of projected ex-China demand, according to S&P.
EARLY STAGES
Several of the announced gallium projects, including those planned by METLEN in Greece, Alcoa AA.N and Sojitz in Australia, Rio Tinto RIO.AX and Indium Corporation in Canada, and Nalco NALU.NS in India, are still being developed and have yet to reach full commercial production.
New entrants complement those efforts — Korea Zinc is developing gallium and germanium capacity at home and at a planned Tennessee refinery, and US-based ReElement Technologies is developing a refining complex in Indiana.
Titan Mining, a zinc and graphite producer, expects to start germanium production in New York state by year-end at 2.5 to 3 tons, or about 7% to 10% of US demand.
At the same time, a handful of established non-Chinese germanium suppliers are working to boost their output.
Canada's Teck Resources TECKb.TO struck a deal with Ottawa in July to support an expansion of production at its facility in Trail, British Columbia.
Gallium, germanium demand breakdown as of 2025 https://tmsnrt.rs/4iilLdm
Demand and Supply (Ge,Ga) https://tmsnrt.rs/4xkz4xF
Germanium gallium price chart https://tmsnrt.rs/4cT73pE
Chinese gallium and germanium exports https://tmsnrt.rs/479p3sh
(Reporting by Ashitha Shivaprasad; additional reporting by Eric Onstad, Ernest Scheyder, Solomon Cefai and Divya Rajagopal; editing by Pratima Desai, Tomasz Janowski and Jason Neely)
Sept 8 (Reuters) - EMIRATES GLOBAL ALUMINIUM (EGA)
EGA - EGA AND NALCO SIGN AGREEMENT TO TRANSFER EGA'S DX+ ULTRA SMELTING TECHNOLOGY TO INDIA
EGA - NALCO WILL BUILD A 500,000 TONNES PER YEAR BROWNFIELD SMELTER EXPANSION IN ANUGOLA, ODISHA USING EGA’S TECHNOLOGY
EGA - NALCO SELECTED EGA AS THE TECHNOLOGY PROVIDER FOR THE PROJECT THROUGH A BIDDING PROCESS
EGA - PROJECT WILL MORE THAN DOUBLE NALCO’S ALUMINIUM PRODUCTION
EGA - FIRST ALUMINIUM PRODUCTION IS EXPECTED BY THE END OF 2030
Further company coverage: NALU.NS
(([email protected];))
Sept 8 (Reuters) - EMIRATES GLOBAL ALUMINIUM (EGA)
EGA - EGA AND NALCO SIGN AGREEMENT TO TRANSFER EGA'S DX+ ULTRA SMELTING TECHNOLOGY TO INDIA
EGA - NALCO WILL BUILD A 500,000 TONNES PER YEAR BROWNFIELD SMELTER EXPANSION IN ANUGOLA, ODISHA USING EGA’S TECHNOLOGY
EGA - NALCO SELECTED EGA AS THE TECHNOLOGY PROVIDER FOR THE PROJECT THROUGH A BIDDING PROCESS
EGA - PROJECT WILL MORE THAN DOUBLE NALCO’S ALUMINIUM PRODUCTION
EGA - FIRST ALUMINIUM PRODUCTION IS EXPECTED BY THE END OF 2030
Further company coverage: NALU.NS
(([email protected];))
NALCO signed a technology partnership agreement with Emirates Global Aluminium in Dubai on 7 September 2026. The agreement licensed EGA's UAE-developed DX+ Ultra aluminium-smelting technology, including know-how, designs and technical support, for NALCO's 0.5 MTPA brownfield expansion at Anugola, Odisha. The proposed expansion was intended to add 0.5 MTPA, taking NALCO's overall aluminium production capacity to about 1 MTPA. NALCO's FY26 revenue from operations was ₹17,843 crore, and its bank balances were ₹8,254 crore at year-end.
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NALCO signed a technology partnership agreement with Emirates Global Aluminium in Dubai on 7 September 2026. The agreement licensed EGA's UAE-developed DX+ Ultra aluminium-smelting technology, including know-how, designs and technical support, for NALCO's 0.5 MTPA brownfield expansion at Anugola, Odisha. The proposed expansion was intended to add 0.5 MTPA, taking NALCO's overall aluminium production capacity to about 1 MTPA. NALCO's FY26 revenue from operations was ₹17,843 crore, and its bank balances were ₹8,254 crore at year-end.
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NALCO said the Ministry of Mines had appointed Shri Neeraj as a part-time non-official independent director on its board. The appointment took effect from the date of notification and would continue until further orders, whichever came earlier. The company said it would complete the appointment formalities before inducting him under the Companies Act and listing regulations. NALCO had three independent directors against a requirement of eight, and the shortfall had resulted in recurring BSE and NSE fines.
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NALCO said the Ministry of Mines had appointed Shri Neeraj as a part-time non-official independent director on its board. The appointment took effect from the date of notification and would continue until further orders, whichever came earlier. The company said it would complete the appointment formalities before inducting him under the Companies Act and listing regulations. NALCO had three independent directors against a requirement of eight, and the shortfall had resulted in recurring BSE and NSE fines.
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July 31 (Reuters) - National Aluminium Co Ltd NALU.NS:
NATIONAL ALUMINIUM CO Q1 CONSOL PROFIT 20.03 BILLION RUPEES
NATIONAL ALUMINIUM CO Q1 CONSOL REVENUE FROM OPERATIONS 53.02 BILLION RUPEES
DIVIDEND OF 1 RUPEE PER SHARE
Source text: [ID:]
Further company coverage: NALU.NS
(([email protected];))
July 31 (Reuters) - National Aluminium Co Ltd NALU.NS:
NATIONAL ALUMINIUM CO Q1 CONSOL PROFIT 20.03 BILLION RUPEES
NATIONAL ALUMINIUM CO Q1 CONSOL REVENUE FROM OPERATIONS 53.02 BILLION RUPEES
DIVIDEND OF 1 RUPEE PER SHARE
Source text: [ID:]
Further company coverage: NALU.NS
(([email protected];))
By Neha Arora
NEW DELHI, July 24 (Reuters) - Canadian climate technology developer Enervoxa plans talks with India's Vedanta VDAN.NS, Hindalco Industries HALC.NS and state-run NALCO NALU.NS as it looks to set up a processing plant in the country to extract rare earths from a waste byproduct of aluminium production.
A commercial-scale plant would cost around $250 million to $350 million and could be financed through a combination of strategic equity and project financing, Enervoxa Chief Executive Vandit Verma told Reuters. The company is looking at potential locations in eastern India for the project, he said.
Recovering rare earth concentrates from bauxite residue — a byproduct of aluminium production known as red mud — is a relatively new commercial application that has gained momentum amid growing geopolitical concerns over China's dominance of rare earth processing.
Rare earth elements are essential to technologies spanning mobile phones, electric vehicle motors and defence applications such as cruise missiles.
India holds substantial rare earth reserves but lacks industrial-scale facilities capable of processing the minerals to high purity levels. The country is also the world's second-largest aluminium producer and its third-biggest consumer.
Enervoxa has spent eight years developing its own process to recover rare earths from red mud, Verma said in an interview on Wednesday.
In addition to aluminium producers, Enervoxa plans to approach engineering companies, steel manufacturers and critical minerals processing companies to develop an integrated value chain for the products recoverable from red mud, which also include iron oxide, coagulants, pigments and titanium-bearing materials.
The company also plans to seek Indian government assistance, Verma said.
India's Jawaharlal Nehru Aluminium Research Development and Design Centre, along with other stakeholders under government think tank NITI Aayog, is conducting research into metal extraction and rare earth element enrichment from red mud, the government said last year.
Enervoxa's project could involve either full processing of red mud within India or production of a rare earth concentrate for refining at a dedicated downstream facility, Verma said.
The company is currently focused on evaluating commercial opportunities with companies in India, North America, Southeast Asia and other alumina-producing regions, he said.
(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Kevin Buckland)
(([email protected]; X: neha_5;))
By Neha Arora
NEW DELHI, July 24 (Reuters) - Canadian climate technology developer Enervoxa plans talks with India's Vedanta VDAN.NS, Hindalco Industries HALC.NS and state-run NALCO NALU.NS as it looks to set up a processing plant in the country to extract rare earths from a waste byproduct of aluminium production.
A commercial-scale plant would cost around $250 million to $350 million and could be financed through a combination of strategic equity and project financing, Enervoxa Chief Executive Vandit Verma told Reuters. The company is looking at potential locations in eastern India for the project, he said.
Recovering rare earth concentrates from bauxite residue — a byproduct of aluminium production known as red mud — is a relatively new commercial application that has gained momentum amid growing geopolitical concerns over China's dominance of rare earth processing.
Rare earth elements are essential to technologies spanning mobile phones, electric vehicle motors and defence applications such as cruise missiles.
India holds substantial rare earth reserves but lacks industrial-scale facilities capable of processing the minerals to high purity levels. The country is also the world's second-largest aluminium producer and its third-biggest consumer.
Enervoxa has spent eight years developing its own process to recover rare earths from red mud, Verma said in an interview on Wednesday.
In addition to aluminium producers, Enervoxa plans to approach engineering companies, steel manufacturers and critical minerals processing companies to develop an integrated value chain for the products recoverable from red mud, which also include iron oxide, coagulants, pigments and titanium-bearing materials.
The company also plans to seek Indian government assistance, Verma said.
India's Jawaharlal Nehru Aluminium Research Development and Design Centre, along with other stakeholders under government think tank NITI Aayog, is conducting research into metal extraction and rare earth element enrichment from red mud, the government said last year.
Enervoxa's project could involve either full processing of red mud within India or production of a rare earth concentrate for refining at a dedicated downstream facility, Verma said.
The company is currently focused on evaluating commercial opportunities with companies in India, North America, Southeast Asia and other alumina-producing regions, he said.
(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Kevin Buckland)
(([email protected]; X: neha_5;))
July 8 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO - NALCO SIGNS JOINT VENTURE AGREEMENT WITH NLC INDIA FOR 1,080 MW THERMAL POWER PLANT
Source text: ID:nBSE2H0627
Further company coverage: NALU.NS
(([email protected];))
July 8 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO - NALCO SIGNS JOINT VENTURE AGREEMENT WITH NLC INDIA FOR 1,080 MW THERMAL POWER PLANT
Source text: ID:nBSE2H0627
Further company coverage: NALU.NS
(([email protected];))
April 30 (Reuters) - National Aluminium Co Ltd NALU.NS:
NATIONAL ALUMINIUM CO Q4 CONSOL PROFIT 17.22 BILLION RUPEES
NATIONAL ALUMINIUM CO Q4 CONSOL REVENUE FROM OPERATIONS 50.13 BILLION RUPEES
NALCO- INTERIM DIVIDEND 2 RUPEES PER SHARE
Further company coverage: NALU.NS
(([email protected];))
April 30 (Reuters) - National Aluminium Co Ltd NALU.NS:
NATIONAL ALUMINIUM CO Q4 CONSOL PROFIT 17.22 BILLION RUPEES
NATIONAL ALUMINIUM CO Q4 CONSOL REVENUE FROM OPERATIONS 50.13 BILLION RUPEES
NALCO- INTERIM DIVIDEND 2 RUPEES PER SHARE
Further company coverage: NALU.NS
(([email protected];))
By Neha Arora
NEW DELHI, April 21 (Reuters) - A leading industry group representing small and mid-sized firms that recycle metals, plastics, e-waste, rubber and glass has sought intervention from the Prime Minister's Office (PMO) to remove an import tax on aluminium scrap, citing rising costs and strong demand, according to a letter reviewed by Reuters.
India, a major global buyer of aluminium scrap, imposes a 2.5% tariff on the product and relies heavily on supplies from the European Union, the U.S. and the Middle East.
The EU's planned export curbs and disruptions from the U.S.-Israeli war on Iran have tightened supplies, industry officials said.
Aluminium scrap is used mainly by the auto sector as well as in construction, foils and cables.
"MSMEs (Micro, Small and Medium Enterprises) depend on high-quality imported scrap to meet technical specifications, but the 2.5% basic customs duty raises input costs and strains working capital, limiting access to reliable recycled material," the Material Recycling Association of India (MRAI) said in a March 26 letter to the PMO.
The PMO and the MRAI did not respond to Reuters requests for comment.
Scrapping of import tariff would reduce costs and improve competitiveness, the letter said.
The secondary sector that relies on scrap contributes nearly 40% of India's total aluminium supply of around 2.2 million metric tons per year and it meets 85% of its scrap needs through imports, the letter said.
In a report released last year, the mines ministry said India's high dependence on imported scrap could be attributed to the low availability of domestic scrap.
The ministry also said high scrap imports posed a problem for primary producers of aluminium given a surge in shipments in recent years.
However, the MRAI said in its letter that removing the import tariff would promote downstream manufacturing without adversely impacting primary producers.
India's leading primary aluminium producers include Vedanta VDAN.NS, Hindalco Industries HALC.NS and state-owned National Aluminium NALU.NS.
Besides being a resource for domestic producers, scrap has a vital role in the sector's decarbonisation efforts, since recycling aluminium uses 95% less energy than producing metal from mined bauxite.
"With aluminium consumption expected to reach 8.5-9.0 million metric tons by FY30 and recycled content mandates coming in, imports are likely to remain crucial unless domestic scrap collection and urban mining improve significantly," commodities consultancy BigMint said.
(Reporting by Neha Arora; Editing by Thomas Derpinghaus)
(([email protected]; X: neha_5;))
By Neha Arora
NEW DELHI, April 21 (Reuters) - A leading industry group representing small and mid-sized firms that recycle metals, plastics, e-waste, rubber and glass has sought intervention from the Prime Minister's Office (PMO) to remove an import tax on aluminium scrap, citing rising costs and strong demand, according to a letter reviewed by Reuters.
India, a major global buyer of aluminium scrap, imposes a 2.5% tariff on the product and relies heavily on supplies from the European Union, the U.S. and the Middle East.
The EU's planned export curbs and disruptions from the U.S.-Israeli war on Iran have tightened supplies, industry officials said.
Aluminium scrap is used mainly by the auto sector as well as in construction, foils and cables.
"MSMEs (Micro, Small and Medium Enterprises) depend on high-quality imported scrap to meet technical specifications, but the 2.5% basic customs duty raises input costs and strains working capital, limiting access to reliable recycled material," the Material Recycling Association of India (MRAI) said in a March 26 letter to the PMO.
The PMO and the MRAI did not respond to Reuters requests for comment.
Scrapping of import tariff would reduce costs and improve competitiveness, the letter said.
The secondary sector that relies on scrap contributes nearly 40% of India's total aluminium supply of around 2.2 million metric tons per year and it meets 85% of its scrap needs through imports, the letter said.
In a report released last year, the mines ministry said India's high dependence on imported scrap could be attributed to the low availability of domestic scrap.
The ministry also said high scrap imports posed a problem for primary producers of aluminium given a surge in shipments in recent years.
However, the MRAI said in its letter that removing the import tariff would promote downstream manufacturing without adversely impacting primary producers.
India's leading primary aluminium producers include Vedanta VDAN.NS, Hindalco Industries HALC.NS and state-owned National Aluminium NALU.NS.
Besides being a resource for domestic producers, scrap has a vital role in the sector's decarbonisation efforts, since recycling aluminium uses 95% less energy than producing metal from mined bauxite.
"With aluminium consumption expected to reach 8.5-9.0 million metric tons by FY30 and recycled content mandates coming in, imports are likely to remain crucial unless domestic scrap collection and urban mining improve significantly," commodities consultancy BigMint said.
(Reporting by Neha Arora; Editing by Thomas Derpinghaus)
(([email protected]; X: neha_5;))
April 2 (Reuters) - National Aluminium Co Ltd NALU.NS:
FY26 TOTAL ALUMINA SALE AT 1.4 MILLION TONNE
FY26 BREAKS ALL PREVIOUS RECORDS IN BOTH PRODUCTION AND SALES FOR CO
Source text: ID:nBSE1n0g2j
Further company coverage: NALU.NS
(([email protected];))
April 2 (Reuters) - National Aluminium Co Ltd NALU.NS:
FY26 TOTAL ALUMINA SALE AT 1.4 MILLION TONNE
FY26 BREAKS ALL PREVIOUS RECORDS IN BOTH PRODUCTION AND SALES FOR CO
Source text: ID:nBSE1n0g2j
Further company coverage: NALU.NS
(([email protected];))
Feb 25 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO LAUNCHES IA91 GRADE ALUMINIUM ALLOY INGOT
Source text: ID:nBSE4kSBMz
Further company coverage: NALU.NS
(([email protected];;))
Feb 25 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO LAUNCHES IA91 GRADE ALUMINIUM ALLOY INGOT
Source text: ID:nBSE4kSBMz
Further company coverage: NALU.NS
(([email protected];;))
India concerned over political instability in Mali
Rosatom approached India in 2025 for Mali lithium project
India last signed overseas lithium exploration pact in 2024
By Neha Arora
NEW DELHI, Feb 12 (Reuters) - Security risks are prompting India to pull out of a lithium project in Mali backed by Russia's state nuclear corporation Rosatom, sources said, as New Delhi seeks to safeguard its investments in the politically unstable West African nation.
Western nations, from Britain and France to the United States, have urged citizens to leave the landlocked nation as security concerns rise in its battle with al Qaeda-linked militants targeting economic assets and foreign investment.
Last year Rosatom approached India's government-backed Khanij Bidesh India Ltd (KABIL) and NLC India Ltd NLCI.NS for lithium exploration in Mali, an emerging producer of the metal critical in making batteries for electric vehicles.
"The project is on hold because we cannot be spending on something where there is a chance we will lose our investment," one of the sources said.
Both sources, who were directly involved in the decision-making, sought anonymity because the discussions were confidential.
India's mining ministry, KABIL and NLC India did not respond to Reuters requests for comment. Rosatom declined to comment.
Russia has been cultivating ties with a string of African countries, through efforts including military cooperation, and has strengthened relations with Mali and Burkina Faso.
The world's fastest-growing major economy, India has sought a steady supply of lithium in anticipation of rising demand for the metal, key to cutting carbon emissions from the world's third-largest emitter.
New Delhi is targeting 30% electric car penetration and 80% for two-wheelers by 2030, up from 4% and 6% now.
India has recently stepped up efforts for deals to access critical minerals in resource-rich countries such as Argentina, Australia and Chile.
In 2024, KABIL signed an exploration and development pact with a state-owned firm in Argentina to explore and mine five lithium blocks, but has not signed any similar deals since.
(Reporting by Neha Arora; additional reporting by Anastasia Lyrchikova in Moscow; Editing by Mayank Bhardwaj and Clarence Fernandez)
(([email protected]; X: neha_5;))
India concerned over political instability in Mali
Rosatom approached India in 2025 for Mali lithium project
India last signed overseas lithium exploration pact in 2024
By Neha Arora
NEW DELHI, Feb 12 (Reuters) - Security risks are prompting India to pull out of a lithium project in Mali backed by Russia's state nuclear corporation Rosatom, sources said, as New Delhi seeks to safeguard its investments in the politically unstable West African nation.
Western nations, from Britain and France to the United States, have urged citizens to leave the landlocked nation as security concerns rise in its battle with al Qaeda-linked militants targeting economic assets and foreign investment.
Last year Rosatom approached India's government-backed Khanij Bidesh India Ltd (KABIL) and NLC India Ltd NLCI.NS for lithium exploration in Mali, an emerging producer of the metal critical in making batteries for electric vehicles.
"The project is on hold because we cannot be spending on something where there is a chance we will lose our investment," one of the sources said.
Both sources, who were directly involved in the decision-making, sought anonymity because the discussions were confidential.
India's mining ministry, KABIL and NLC India did not respond to Reuters requests for comment. Rosatom declined to comment.
Russia has been cultivating ties with a string of African countries, through efforts including military cooperation, and has strengthened relations with Mali and Burkina Faso.
The world's fastest-growing major economy, India has sought a steady supply of lithium in anticipation of rising demand for the metal, key to cutting carbon emissions from the world's third-largest emitter.
New Delhi is targeting 30% electric car penetration and 80% for two-wheelers by 2030, up from 4% and 6% now.
India has recently stepped up efforts for deals to access critical minerals in resource-rich countries such as Argentina, Australia and Chile.
In 2024, KABIL signed an exploration and development pact with a state-owned firm in Argentina to explore and mine five lithium blocks, but has not signed any similar deals since.
(Reporting by Neha Arora; additional reporting by Anastasia Lyrchikova in Moscow; Editing by Mayank Bhardwaj and Clarence Fernandez)
(([email protected]; X: neha_5;))
Jan 30 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS reported a marginal increase in third-quarter profit on Friday, helped by firm aluminium prices.
State-owned NALCO's consolidated profit came in at 15.95 billion rupees ($173.49 million) for the October-December period, up 1.8% from a year earlier.
Aluminium prices remained firm in the October-December period as Chinese producers faced higher costs amid winter power curtailments and tighter environmental rules across the supply chain, analysts at Elara Capital said in a research note.
Top aluminium producer and consumer China often cuts industrial power during winter to safeguard heating, forcing aluminium smelters to run below capacity which drives up their costs.
The benchmark three-month aluminium CMAL3 rose 11.8% on-year, during the reporting quarter. Higher commodity prices tend to raise the selling price of metals.
Higher aluminium prices helped partly offset the impact of lower alumina prices.
China alumina prices dropped nearly 46% year-on-year in the October-December quarter, due to weak demand in region, the world's largest consumer.
The Bhubaneswar, Odisha-based company is India's largest producer of alumina, or aluminium oxide, which is used in the production of aluminium and also as a catalyst in petrochemical refining.
Revenue from operations edged up 1.5% to 47.31 billion rupees ($514.59 million). NALCO's aluminium business, which contributes to 73% of overall revenue, grew 33%.
Its second-biggest segment, chemical, which produces caustic soda, hydrochloric acid and sodium hypochlorite, fell 34%.
Expenses rose 5.8% to 27.93 billion rupees, mainly due to higher raw materials cost.
Earlier in the week, rival Vedanta VDAN.NS reported a 60% rise in profit on Thursday, while Hindalco Industries HALC.NS is yet to report their quarterly results.
($1 = 91.9380 Indian rupees)
(Reporting by Anuran Sadhu and Brijesh Patel in Bengaluru; Editing by Rashmi Aich)
(([email protected]; +91 8697274436;))
Jan 30 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS reported a marginal increase in third-quarter profit on Friday, helped by firm aluminium prices.
State-owned NALCO's consolidated profit came in at 15.95 billion rupees ($173.49 million) for the October-December period, up 1.8% from a year earlier.
Aluminium prices remained firm in the October-December period as Chinese producers faced higher costs amid winter power curtailments and tighter environmental rules across the supply chain, analysts at Elara Capital said in a research note.
Top aluminium producer and consumer China often cuts industrial power during winter to safeguard heating, forcing aluminium smelters to run below capacity which drives up their costs.
The benchmark three-month aluminium CMAL3 rose 11.8% on-year, during the reporting quarter. Higher commodity prices tend to raise the selling price of metals.
Higher aluminium prices helped partly offset the impact of lower alumina prices.
China alumina prices dropped nearly 46% year-on-year in the October-December quarter, due to weak demand in region, the world's largest consumer.
The Bhubaneswar, Odisha-based company is India's largest producer of alumina, or aluminium oxide, which is used in the production of aluminium and also as a catalyst in petrochemical refining.
Revenue from operations edged up 1.5% to 47.31 billion rupees ($514.59 million). NALCO's aluminium business, which contributes to 73% of overall revenue, grew 33%.
Its second-biggest segment, chemical, which produces caustic soda, hydrochloric acid and sodium hypochlorite, fell 34%.
Expenses rose 5.8% to 27.93 billion rupees, mainly due to higher raw materials cost.
Earlier in the week, rival Vedanta VDAN.NS reported a 60% rise in profit on Thursday, while Hindalco Industries HALC.NS is yet to report their quarterly results.
($1 = 91.9380 Indian rupees)
(Reporting by Anuran Sadhu and Brijesh Patel in Bengaluru; Editing by Rashmi Aich)
(([email protected]; +91 8697274436;))
Jan 28 (Reuters) - National Aluminium Co Ltd NALU.NS:
NO NEGOTIATIONS FOR SETTING UP 200-300 MW GREEN POWER CAPACITY
IN PROCESS OF APPOINTING CONSULTANT FOR RENEWABLE ENERGY TRANSITION
Further company coverage: NALU.NS
(([email protected];))
Jan 28 (Reuters) - National Aluminium Co Ltd NALU.NS:
NO NEGOTIATIONS FOR SETTING UP 200-300 MW GREEN POWER CAPACITY
IN PROCESS OF APPOINTING CONSULTANT FOR RENEWABLE ENERGY TRANSITION
Further company coverage: NALU.NS
(([email protected];))
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)
(([email protected]; X: @MukherjeeHritam;))
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)
(([email protected]; X: @MukherjeeHritam;))
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
(([email protected];))
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
(([email protected];))
** 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)
(((( [email protected] ))))
** 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)
(((( [email protected] ))))
Indian companies seek 20% stake for $600 million, sources say
Coal India, Oil India, ONGC Videsh in talks with SQM
India's state-run company KABIL leads talks with SQM
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)
(([email protected];))
Indian companies seek 20% stake for $600 million, sources say
Coal India, Oil India, ONGC Videsh in talks with SQM
India's state-run company KABIL leads talks with SQM
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)
(([email protected];))
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
Further company coverage: NALU.NS
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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
Further company coverage: NALU.NS
(([email protected];))
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
Further company coverage: NALU.NS
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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
Further company coverage: NALU.NS
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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:]
Further company coverage: NALU.NS
(([email protected];))
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:]
Further company coverage: NALU.NS
(([email protected];))
Nov 1 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO - SRIDHRA PATRA CEASES TO BE CHAIRMAN
Further company coverage: NALU.NS
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Nov 1 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO - SRIDHRA PATRA CEASES TO BE CHAIRMAN
Further company coverage: NALU.NS
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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)
(([email protected]; +91 9769003463;))
** 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)
(([email protected]; +91 9769003463;))
Aug 28 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO - MOU SIGNED BETWEEN KABIL AND OIL INDIA FOR COLLABORATION IN PROJECTS & EXPLORATION
Further company coverage: NALU.NS
(([email protected];))
Aug 28 (Reuters) - National Aluminium Co Ltd NALU.NS:
NALCO - MOU SIGNED BETWEEN KABIL AND OIL INDIA FOR COLLABORATION IN PROJECTS & EXPLORATION
Further company coverage: NALU.NS
(([email protected];))
Aug 12 (Reuters) - National Aluminium Co Ltd NALU.NS:
Q1 CONSOL PROFIT 5.88 BILLION RUPEES
Q1 CONSOL REVENUE FROM OPERATIONS 28.56 BILLION RUPEES
FINAL DIV 2 RUPEES/SHR
Source text for Eikon: [ID:]
Further company coverage: NALU.NS
(([email protected];))
Aug 12 (Reuters) - National Aluminium Co Ltd NALU.NS:
Q1 CONSOL PROFIT 5.88 BILLION RUPEES
Q1 CONSOL REVENUE FROM OPERATIONS 28.56 BILLION RUPEES
FINAL DIV 2 RUPEES/SHR
Source text for Eikon: [ID:]
Further company coverage: NALU.NS
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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
Further company coverage: NALU.NS
(([email protected];))
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
Further company coverage: NALU.NS
(([email protected];))
May 27 (Reuters) - National Aluminium Co Ltd NALU.NS:
MARCH PROFIT 10.16 BILLION RUPEES
NATIONAL ALUMINIUM CO MARCH REVENUE FROM OPERATIONS 35.79 BILLION RUPEES
YR AGO MARCH PROFIT 5.22 BLN RUPEES, REV 36.71 BLN RUPEES
Further company coverage: NALU.NS
(([email protected];))
May 27 (Reuters) - National Aluminium Co Ltd NALU.NS:
MARCH PROFIT 10.16 BILLION RUPEES
NATIONAL ALUMINIUM CO MARCH REVENUE FROM OPERATIONS 35.79 BILLION RUPEES
YR AGO MARCH PROFIT 5.22 BLN RUPEES, REV 36.71 BLN RUPEES
Further company coverage: NALU.NS
(([email protected];))
April 24 (Reuters) - National Aluminium Co Ltd NALU.NS:
KABIL INKS MOU WITH CSIR-NGRI FOR ADVANCING GEOPHYSICAL INVESTIGATIONS IN CRITICAL, STRATEGIC MINERALS SECTOR
Further company coverage: NALU.NS
(([email protected];))
April 24 (Reuters) - National Aluminium Co Ltd NALU.NS:
KABIL INKS MOU WITH CSIR-NGRI FOR ADVANCING GEOPHYSICAL INVESTIGATIONS IN CRITICAL, STRATEGIC MINERALS SECTOR
Further company coverage: NALU.NS
(([email protected];))
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Popular questions
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What does National Aluminium do?
National Aluminium Company Limited (NALCO) is a government-owned company under the Ministry of Mines. Established in 1981, it is a major player in the integrated Bauxite-Alumina-Aluminium-Power industry with operations spanning mining, metal refining, smelting, power generation, and logistics.
Who are the competitors of National Aluminium?
National Aluminium major competitors are Arfin India, MMP Industries, Euro Panel Products, PG Foils, Manaksia Aluminium, Sacheta Metals, Hindalco Industries. Market Cap of National Aluminium is ₹61,371 Crs. While the median market cap of its peers are ₹367 Crs.
Is National Aluminium financially stable compared to its competitors?
National Aluminium seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does National Aluminium pay decent dividends?
The company seems to pay a good stable dividend. National Aluminium latest dividend payout ratio is 36.44% and 3yr average dividend payout ratio is 39.74%
How has National Aluminium allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Capital Work in Progress
How strong is National Aluminium balance sheet?
Balance sheet of National Aluminium is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of National Aluminium improving?
Yes, profit is increasing. The profit of National Aluminium is ₹6,754 Crs for TTM, ₹5,797 Crs for Mar 2026 and ₹5,268 Crs for Mar 2025.
Is the debt of National Aluminium increasing or decreasing?
The net debt of National Aluminium is decreasing. Latest net debt of National Aluminium is -₹16,815.48 Crs as of Mar-26. This is less than Mar-25 when it was -₹10,729.24 Crs.
Is National Aluminium stock expensive?
National Aluminium is not expensive. Latest PE of National Aluminium is 9.09, while 3 year average PE is 10.88. Also latest EV/EBITDA of National Aluminium is 5.78 while 3yr average is 6.42.
Has the share price of National Aluminium grown faster than its competition?
National Aluminium has given better returns compared to its competitors. National Aluminium has grown at ~47.12% over the last 4yrs while peers have grown at a median rate of 13.05%
Is the promoter bullish about National Aluminium?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in National Aluminium is 51.28% and last quarter promoter holding is 51.28%.
Are mutual funds buying/selling National Aluminium?
The mutual fund holding of National Aluminium is increasing. The current mutual fund holding in National Aluminium is 6.68% while previous quarter holding is 6.24%.