Nalco Beats Coal Supply Woes Amid Covid-19, Logs 90% Capacity Utilisation
National Aluminium Company (Nalco) has achieved more than 90 per cent capacity utilization at its smelting unit at Angul (Odisha), battling headwinds like coal supply woes during last monsoons and disruptions induced by the recent outbreak of Covid-19 global pandemic.
The company said it recorded cast metal production of 0.41 million tonnes (mt) at the smelter unit whose nameplate capacity stands at 0.46 mt per annum. Even though Covid-19 crisis looms, all of Nalco’s units have been operational with pruned manpower.
Nalco’s captive Panchpatmalli bauxite mines recorded more than 100 per cent capacity utilization with a production of 7.3 million tonnes. Its aluminium refinery at Damanjodi installed at the foot of bauxite laden Panchpatmalli hills, produced 2.16 mt of alumina hydrate. The output figures for bauxite and alumina are Nalco’s highest since the time it started commercial operations around three decades back.
Sridhar Patra, chairman & managing director (CMD), Nalco attributed the company’s performance to the teamwork and dedication invested by the employees. He exuded confidence that despite the sluggish metals market, Nalco would be able to tide over the downturn by retaining focus on bauxite mining and alumina refining arm and sustaining the cost reduction measures.
ClearBank UK Profit Leads To European Growth
ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more
Bank Of London Continues To Rebuild
ClearBank’s progress shows that modern clearing and banking infrastructure can become a sizeable and profitable busine... Read more
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more