AL Circle's weekly wrap
Shyam Metalics announces to invest INR 450 crore in setting up an aluminium flat-rolled plant
Shyam Metalics & Energy Limited, an Indian metal producing company, headquartered in Kolkata, West Bengal, India, has reportedly announced its ambition of investing into a greenfield project focused on manufacturing aluminium flat-rolled products.
As per the report, the company is willing to invest INR 450 crore in the project, aiming at expanding the capacity and generating about 1,000 employments, including both direct and indirect jobs.
This investment will increase the production of aluminium flat-rolled products to bridge the demand and supply gap. It will also make the company self-reliant for the raw materials of aluminium foil business.
Shyam Metalics & Energy will set up the plant in Odisha, with an annual capacity of 60,000 tonnes per year. This project will support India's ever-increasing electric vehicle (EV) sector by supplying aluminium flat-rolled products for car parts.
Hydro Paragominas marks 17 years of sustainable bauxite extraction
Hydro Paragominas, a mining enterprise centred on bauxite extraction in Paragominas (PA), marks its 17th anniversary this March with a strong emphasis on innovation and sustainability. Spearheaded by Industrial Director Anderson Martins, the company is renowned for its continual pursuit of cutting-edge technologies that enhance its operations and foster sustainable growth within the region.
Among its trailblazing initiatives is the remote operation of the D11 tracked tractor, one of the world's first experiments. According to Mine Operations Manager Edil Pimentel, this pioneering approach signifies a technological leap forward and fosters a more inclusive work environment. It opens doors for greater participation of women and individuals with disabilities in operating the equipment, making strides towards a more diverse and empowered workforce.
Dedication towards environmental rehabilitation
Furthermore, the company remains dedicated to environmental rehabilitation through groundbreaking innovations, such as being a trailblazer using drones for the Amazon region's reforestation efforts. Jonilton Paschoal, Environment Manager at Hydro Paragominas, emphasizes the role of these initiatives in bolstering the company's rehabilitation objectives. Since 2009, they have successfully reforested more than 3 thousand hectares.
Through strategic collaborations with esteemed institutions like the Federal University of Pará (UFPA) and the Brazil-Norway Biodiversity Research Consortium (BRC), Hydro Paragominas reaffirms its steadfast commitment to sustainability and innovation. These partnerships underscore the company's dedication to seeking unique and effective solutions for its operations, solidifying its position as a leader in sustainable mining practices.
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EGA solidifies its global presence with the acquisition of German recycling firm Leichtmetall
Emirates Global Aluminium (EGA), the world's leading producer of premium aluminium, officially sealed a significant deal on March 21, 2024. The aluminium giant from the GCC region has signed a binding agreement to acquire Leichtmetall, a renowned aluminium recycling company based in Germany.
Leichtmetall is a European speciality foundry that produces hard alloys and larger-diameter billets containing significant proportions of secondary aluminium.
EGA intends to acquire 100 per cent ownership of the company currently held by Leichtmetall Holding GmbH, a subsidiary under an investment fund managed by Quantum Capital Partners GmbH. Pending regulatory clearance, the acquisition is anticipated to be completed in the first half of 2024.
Abdulnasser Bin Kalban, the Chief Executive Officer of Emirates Global Aluminium, said, “This acquisition provides EGA a platform to develop a recycling business close to our customers in Europe, contributing to the emerging circular economy and building on our existing position as one of the biggest importers of primary aluminium on that continent. Leichtmetall will grow as part of EGA.”
EGA's recent acquisition marks a significant milestone, being its first major purchase following the merger of Dubai Aluminium and Emirates Aluminium a decade ago. Leichtmetall, located in Hannover, Germany, utilises renewable energy in its operations, producing approximately 30 thousand tonnes annually of aluminium billets, with secondary aluminium comprising roughly 80 per cent of its input materials.
The company utilises its proprietary inductive melting technology, liquid metal treatment, and casting processes honed over four decades to produce top-tier products from scrap metal. These products cater to demanding applications characterised by their exceptional quality and specifications. Leichtmetall's production primarily comprises hard alloy billets reaching up to 1,150 millimetres in diameter. These billets find application in manufacturing high-load bearing extruded profiles and exceptionally large forged components. Leichtmetall has customers across Europe, particularly Germany, Italy, and France. Read the full news HERE.
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