Business Daily from THE HINDU group of publications
Saturday, Jul 11, 2009
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Business Daily from THE HINDU group of publications Saturday, Jul 11, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook Web Extras - Mining & Quarrying States - Andhra Pradesh
Jayanta Mallick Kolkata, July 10 National Aluminium Co (Nalco) has moved a step forward in its effort to obtain bauxite mining leases in districts of Visakhapatnam and East Godavari in Andhra Pradesh. Mr B.L. Bagra, Finance Director of Nalco, told Business Line that the State Government’s preliminary approval of the leases had been sent to the Centre for consent, which was expected by the end of this month. “On receipt of the Centre’s consent, the in-principle approval of the Andhra Pradesh Government will be available, most probably in August, paving the way for next steps such as seeking environmental clearance and forest clearing,” Mr Bagra said. The mining rights will enable the public sector aluminium giant to source raw material for 25 years for its proposed 1.4-million tonne per annum integrated greenfield export-oriented alumina refinery project to be set up in Visakhapatnam at a cost of Rs 7,000 crore. BlocksThe combined reserves of bauxite bearing blocks in the two identified areas are estimated at 85 million tonnes. Andhra Pradesh Mineral Development Corporation is also to provide another 24 million tonnes of bauxite from other sources. Nalco plans to extract 4.2 million tonnes of bauxite a year from the mines for the refinery. Nalco has awarded exploratory drilling contract to Mineral Exploration Corporation while Mecon has been assigned the task of preparing the detailed techno-economic feasibility report. Mecon would also identify the site of the refinery. It would prepare bauxite carrying logistics plan – mainly through conveyor belts and rails – from mines to the refinery site. The project entails setting up one additional silo at the Nalco’s berth at Visakhapatnam port. Nalco plans to supply alumina from the Visakhapatnam refinery to its proposed smelter in Indonesia. Mining dateThe feasibility report is expected in the next couple of months and the exploratory drilling is expected to start in four months. Mining, however, may not begin before 2011.
The proposed mining locations fall in forest areas and places inhabited by tribals, and the State Government would take the initiative to acquire land for the project. Mr Bagra said internal cash flow would take care of project expenses till the early stages of mining and refinery erections. “Nalco would be required to finalise the major part of the financing plan in the intervening period,” the Finance Director added. Nalco resumes at bauxite mines More Stories on : Outlook | Mining & Quarrying | Andhra Pradesh | National Aluminium Co. Ltd
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