418290cb61704465996647bf7f8c98ab
-
Upload
kartikeyab111 -
Category
Documents
-
view
216 -
download
0
Transcript of 418290cb61704465996647bf7f8c98ab
-
8/6/2019 418290cb61704465996647bf7f8c98ab
1/9
GOVERNMENT OF INDIA
MINISTRY OF MINES
*******No. 3/1/2009-CDN (Vol. III) New Delhi, the November, 2009
Subject: - Monthly Summary for the month of October, 2009.
1. Performance of Non-ferrous Metal Sector:
(a) Aluminium:
Global Scenario:
In the month of October, 2009, aluminium prices traded in the range of $1800/t - $1900/t. Theprimary aluminium price has remained steady during the month.
LME warehouse stocks have also declined to 4.56 million MT thereby registering a fall of2.5% over the previous month which is modest and steady at the end of October, 2009.
Domestic Scenario:
The inventory of Primary Producers of Aluminium has decreased from 44,787 MT as on01.09.09. to 35,907 MT as on 30.09.09. NALCO produced 36,510 MT, sold 20,739 MT in domesticmarket and exported 12,110 MT in October, 2009.
Production of aluminium metal in the public sector unit, namely, National AluminiumCompany Ltd. (NALCO) and private sector units, namely, Bharat Aluminium Company Limited
(BALCO) {which has 49% Central Govt. equity}, Hindustan Aluminium CompanyLtd.(HINDALCO), Madras Aluminium Company Ltd.(MALCO) and Vedanta Aluminium CompanyLtd. (VAL) in the country, during the month of October, 2009 was as follows:-
(Unit: Tonnes)
October, 2009 Cumulative
Production
Target
Cumulative ProductionName of the
Company
Existing
Capacity
ProductionTarget
ProductionActual*
April-October,2009 *
April-October2009 *
April-October2008
NALCO 435000 37300 36510 244500 244303 206663
BALCO 245000** 21852 20948 156766 156233 211457HINDALCO 500000 47590 47746 327048 322797 300000
MALCO 38000 0 0 0 0@ 21837
VAL 250000 Trial run 21228 Trial run 136081 #
Total: 1468000 106742 126432 728314 859414 739957
National Aluminium Company Limited sold 34,566 Tonnes of Alumina /Hydrate and exported 12,110tonnes of Aluminium during the month ofOctober, 2009.
-
8/6/2019 418290cb61704465996647bf7f8c98ab
2/9
@ - Madras Aluminium Company Limited has temporarily shut down its smelter operationssince December, 2008.
# - Vedanta Aluminium Limited (VAL) has commissioned its Smelter at Jharsuguda from April,2008 which is presently under trial production.
* * BALCO has closed down its old smelter of 1 lakh tonne per annum capacity and hence thepresent installed capacity of the company is 2,45,000 tonne.
* Provisional
(b) Copper:
The details relating to global and national scenario of Copper during the month of October,2009 are given below:
The size of Indian Copper Industry (consumption of refined copper per anum) is around fivelakh tonnes, which is three percent of world copper market. Sterlite Industries, Hindalco, HindustanCopper, and Jhagadia Copper Limited are major producers of refined copper in India. India hasemerged as net exporter of copper from the status of net importer on account of rise in production
According to International Copper Study Group (ICSG), world copper mine production willrise by only 3.8% (5, 90,000 tonnes) in 2009, down from the 11% growth projected in October lastyear. World production of refined copper is projected to decrease to 17.60 million tonnes in 2009, adecline of about 7,00,000 tonnes (3.70%) from that in 2008. ICSG expects world refined copperusage to decline by a minimum of 4.3% in 2009 to 17.23 million tonnes in 2009,mostly owing to anaverage decline of 14% in three major markets- the United States, the European Union, and Japan.
The International Copper Study Group (ICSG) released preliminary data for July worldcopper supply and demand in its October 2009 Copper Bulletin.
According to the preliminary ICSG data, following 5 months of continued deficit the refinedcopper market balance for July showed a nominal surplus of around 2,000 metric tonnes (MT). Theshift was primarily due to a 5% decline in global usage resulting from a decrease in Chineseapparent usage based on lower net imports of refined copper and to a slowdown in EU apparentusage over the traditional holiday period. When making seasonal adjustments for world refinedproduction and usage, July showed a deficit of about 4,000 t.
The refined copper balance for the first 7 months of 2009, including revisions to datapreviously presented, indicates a production deficit of 186,000 t (a seasonally adjusted surplusof 62,000 t). This compares with a production deficit of 207,000 t (a seasonally adjusted
surplus of 37,000 t) for the same period in 2008.
In the first 7 months of 2009, world usage is estimated to have decreased by 1.3% comparedwith that in the same period of 2008 as a 47% increase in Chinese apparent usage partially offset adecrease of 19.5% (1.5 million tons (Mt) in the rest of the world. Chinese apparent usage increasedby 1.4 Mt in the first 7 month of 2009, compared with the same period of 2008. Copper usage
-
8/6/2019 418290cb61704465996647bf7f8c98ab
3/9
remained weak in other important markets such as the EU-15 countries, Japan and the United States,where it decreased by 24%, 36%, and 23%, respectively. These three regions currently representaround 30% of the world total copper usage.
World mine production grew by 2.4% (206,000 t) in the first 7 months of 2009 comparedwith that in the same period of 2008. Concentrate production grew by 1% while solvent extraction-
electrowinning (SX-EW) was up by 7.5%. Indonesia, where production increased by 82%(recovering from 2008 operational constraints), was the main contributor to production growth.Output in the two major world producers, Chile and the United States, was down by 3.6% and 5.4%,respectively. Capacity utilization rates, which had risen since March 2009 to 83.5% in June, fell to76% in July, impacted mainly by operational constraints at mines in Chile and Canada. World mineproduction in July 2009 was 0.2% below that in July 2008. In the first 7 months of 2009, worldrefined production decreased by 1.1% compared with that in the same period of 2008: Primaryproduction was practically unchanged (-0.3%) while secondary production (from scrap) decreasedby 5%, reflecting the global scarcity of scrap in the early part of the year. Announced productioncuts led to decreases in refined production of around 7% in Europe, 12% in North America and 1%in Asia (ex-China). Increases of around 10% in Chile and 3% in China were not sufficient to offset
decreases in the other regions. Refined production capacity utilization fell to around 77% comparedwith an average of around 83% over the past 5 years.
Factors Influencing Copper Markets.
Copper prices in India are fixed on the basis of the rates that rule on LME and Rupee &US Dollar exchange rate.
Economic growth of the major consuming countries such as China, USA, Japan,Germany, India, etc.
Growth and development in the Infrastructure, real-estate , Telcom and electricalindustry.Price Outlook
The average LME price in October09 was US$ 6288 /MT compared to average LME ofUS$ 6196 of September09.
In October09 Stock of copper at LME exchange has increased. The opening stock ofSeptember was 345650 MT while closing stock was 372200 MT.
Overall Performance of Hindustan Copper Limited:
During the month of October, 2009 production of Cathode, MIC and Wire rod was 1705 MT,2380 MT and 3342 MT which was 101%, 76% and 71% of the targets, respectively. The salesachievement during the month of October, 2009 was 62% of target. The Company has registered netprofit of Rs. 9.96 crore after tax against the target of Rs. 2.16 crore.
-
8/6/2019 418290cb61704465996647bf7f8c98ab
4/9
The Physical and Financial performance of Hindustan Copper Limited are given as under:-
Name of
The
Company
Installed
Capacity
Target of
Year
Target in
month
(October,
2009)
Actual in
month
(October,
2009)
Cumulative
target upto
the month
(April-October,
2009)
Actual
upto the
month
(April-October,
2009)
Cumulative
upto
previous
year insame
month
(April-
October,
2008)
PHYSICAL PERFORMANCE
COPPER CATHODES: (MT)
Own
Tolled
Total
49500
-
49500
18500
-
18500
1680
-
1680
1705
-
1705
10320
-
10320
8179
1614
9793
19010
-
19010
FINANCIAL PERFORMANCE (Rs. Crore)
Turnover 1245.27 101.60 95.74 746.08 716.58 848.22
Gross Margin 38.97 4.43 16.87 14.68 53.16 70.73
Net profit/(Loss)before tax (PBT)
11.66 2.16 15.09 (1.22) 39.21 51.91
Net profit/(Loss)after tax (PAT)
7.70 2.16 9.96 (1.22) 24.65 24.63
The production of copper cathode in the organized sector by the public sector unit, HindustanCopper Ltd. (HCL), and private sector units, Hindalco Industries Ltd. (HINDALCO), (Unit: BirlaCopper) and Sterlite Industries (India) Ltd. (SIL) in the country, during the month ofOctober, 2009was as follows:
(Unit: Tonnes)
October,2009 CumulativeProduction
Target
Cumulative ProductionName of the
Company
Installed
Capacity
(Annual)
ProductionTarget
ProductionActual
April-October,
2009
April-October,
2009
April-October,
2008HCL 49500 1680 1705 10320 8179 19010
HINDALCO 500000 ** 29120 ** 198594 165526
SIL 400000 27611 29511 216132 198959 180688
Total: 949500 29291 60336 226452 405732 365224
** (Depends upon various economic factors)
-
8/6/2019 418290cb61704465996647bf7f8c98ab
5/9
(c) Zinc & Lead:
As per World mine output forecast, the annual change in production of Lead Zinc will be6% for the year 2009. However, in India production is expected to increase in view of the growthinfrastructure, construction and automobile sector. HZL is the largest integrated Lead-Zinc producerwith a present capacity of 0.754 million tonnes per annum which is going to increase to 1.0 million
tonne per annum from 2010-11.
Production of primary zinc in Hindustan Zinc Limited (HZL) (in which Government of Indiaholds equity of 29.54%) and the private sector unit, Binani Zinc Limited (BZL) and lead in HindustanZinc Limited (HZL) and private sector unit, Indian Lead Limited (ILL) in the country duringOctober, 2009 was as follows:-
(Unit: Tonnes)
October, 2009 Cumulative
Production
Target*
Cumulative ProductionName of
the
Company
Existing
Capacity
ProductionTarget
ProductionActual*
April-October,
2009
April-October,2009 *
April-October,2008**
ZincHZL 669000 57484 51056 378864 330132 299509
BZL 38000 3013 3052 19825 21213 15826
Total: 707000 60497 54108 398689 351345 315335
Lead
HZL 93000 6976 6893 42179 33676 34036
ILL*** 24000 - - - - -
Total: 117000 6976 6893 42179 33676 34036
* Provisional
** Actual figures provided by the company. (i.e. Finally reconciled figures).
*** Both plants of ILL at Thane and Kolkata are reported to be gearing up for production.
2. Gold:
Keeping in view the global meltdown and high prices of gold, the overall imports may bebelow 380 tonnes in 2009 as compared to 450 tonnes in 2008. Hutti Gold Mines is the only primaryproducer of Gold in the country with an annual production of 2800 kg. upto September, 2009, it hasproduced 1162 kg. of gold. Based on exploration carried out in Gadag area by Ramgarh Mineral andMining Limited, it plans to start production of gold by 2010. In addition to this, M/s ManmohanMineral Industries Pvt. Ltd., a primary producer of Gold in the private sector, has produced 7159.34Grams of Gold during the period April to August, 2009
-
8/6/2019 418290cb61704465996647bf7f8c98ab
6/9
After closure of Bharat Gold Mines Ltd. (BGML) #, Hutti Gold Mines Company Ltd.(HGMCL) is the only unit processing gold from ore stage. Hindustan Copper Ltd. (HCL), a publicsector undertaking, and Hindalco Industries Ltd. (HINDALCO), in private sector, produce gold as aby-product, while processing copper. The production of gold by these units during October, 2009
was as follows:
(Unit: Tonnes)
October, 2009 Cumulative
Production
Target
Cumulative ProductionName of the
Company
ProductionTarget
ProductionActual
April-October,
2009
April-October,2009@
April- October,2008^
HGMCL 0.194000 0.163000 1.392000 1.163000 1.577000
HCL -- -- -- -- --HINDALCO * 1.001000 * 5.051000 3.261000
Total: 0.194000 1.164000 1.392000 6.214000 4.838000
#BGML: The Company stands closed w. e.f. 1.3.2001 under Section 25 (O) of I. D. Act, 1947.
* Depends upon various economic factors.
@ Provisional Figure
^ Actual Figure by the company.
Hutti Gold Mines Company Ltd. (HGMCL) has intimated that the gold production for themonth ofOctober, 2009 and cumulative gold production is less than the target due to more emphasisgiven for development works in the mine, preparatory works under progress and low grade ore minedand milled keeping spurt with the gold prices.
Financial performance furnished by HGMCL is given below:-
1. The gold sales during the months was 184.23 kgs. The sales realization amounts to Rs. 2914.06lakhs at an average selling price of Rs.1581.76 per gram.
2. The cumulative gold sales is 1203.46 kgs. and the sales realization amount to Rs.18024.00 lakhs.
3. Survey and Exploration of Minerals:
Mineral Exploration Corporation Ltd.(MECL)
Physical and Financial performance of MECL during October, 2009 was as follows:
-
8/6/2019 418290cb61704465996647bf7f8c98ab
7/9
(Unit: Metres)
October, 2009 Cumulative Production
Target
Cumulative
Production
Name of the
Company
Annual
Target
as perMoU ProductionTarget
ProductionActual*
April-October,
2009
April-October,
2009*
April-October,
2008#
PHYSICAL PERFORMANCE
Drilling (m) 240000 21600 20494 126600 143101 114210
DevelopmentMining (m)
8200 750 201 4250 3254 3392
FINANCIAL PERFORMANCE (Rs. in Lakhs)Gross Revenue 12800 1151 1003 6908 6972 5269
Gross Margin 2500 268 128 1116 1273 516DepreciationWrite Off (DRE)
502 45 25 255 195 210
Net Profit/Loss(Before Tax)
1998 223 103 861 1078 306
Net Profit/Loss(After Tax)
1308 146 66 561 707 194
* Provisional Figures
# Final reconciled figures
The shortfall in drilling is affected due to heavy rains in few projects and more time taken in shiftingof drills to new site because of remoteness of the project. Further, performance has also been affecteddue to forest problem in the State of Chattisgarh.
The shortfall in the developmental mining is due to indefinite strike called by UCIL employees fromdated 8.10.2009 resulting is no work for about 20 days.
4. Geological Survey of India:
(a) Mineral Investigation:- During the month of October, 2009, 10.50 sq. km large scalemapping, 0.00 sq km detailed mapping and 3156.15 m of drilling, were carried out against monthlytargets of 25.01 sq. km, 0.2816 sq km and 4955.86 m, respectively.
(b) Regional Geological Mapping:- 0.00 sq km systematic geological mapping (on 1:50,000scale) was carried out against monthly target of 0.00 sq km and 0.00 sq km specialized thematicmapping was carried out against monthly target of 0.00 sq km.
-
8/6/2019 418290cb61704465996647bf7f8c98ab
8/9
-
8/6/2019 418290cb61704465996647bf7f8c98ab
9/9
Annexure
Status of Implementation of NALCOs second phase expansion of Bauxite Mine,
Alumina Refinery and Aluminium Smelter (As on 31.10.2009)
Approved project cost: Rs 4091.51 crore (at July03 price level). Approved revised project cost: Rs 4402 crore (at Nov08 price level). Total Financial Commitment Rs. 224 crore during FY 09-10 and cumulatively: Rs.
4,157 Crore.
Capital expenditure of Rs 23.97 crore (Prov.) during the month of October, 2009,Rs. 210 crore during FY 09-10 and cumulatively Rs. 3,413 crore.
OVERALL PHYSICAL PROGRESS:(in %)
October, 2009 CUMULATIVE UP TOOctober, 2009
S.No.
PROJECTSEGMENT
SCHEDULE ACTUAL SCHEDULE ACTUAL1 Mines & Alumina -- 0.3 100 93.92 Smelter -- 0.2 100 98.53 CPP -- 0.4 100 95.6