Vedanta, a diversified natural resources company, has decided to close down its one million tonne alumina refinery at Lanjigarh in Kalahandi district due to lack of availability of bauxite from Odisha and falling global aluminium prices. The Aluminium prices have collapsed globally in the past few months and the current indications are that this trend will continue.
Furthermore, the company’s Lanjigarh operations have additionally been affected by the non-availability of bauxite from within the State of Odisha. As a result, the company’s cost of production is significantly higher and is impacting the viability of its Lanjigarh operations.
Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil & gas. The Company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
