Hindalco Industries Ltd.

Hindalco Industries’ board has approved acquisition of 100% equity stake in EMIL Mines and Mineral Resources (EMMRL), the lease holder of the Bandha coal block, by executing a Share Purchase Agreement. The cost of acquisition of equity shares is Rs 48 lakh (subject to due diligence and valuation on the date of Closing of the transaction) and the transaction is expected to be completed within 6 to 9 months.

The company’s strategic objective is to double down its upstream capacities. The proposed acquisition aims to meet the company’s strategic objective of securing resources for its aluminium smelters. As Bandha coal block has resources of around 197 Million Tonne mineable reserves, mine-life of around 45 years and a location of about 20 Kms (aerially) from company’s Mahan power plant and smelter, it builds a sustainable coal supply chain for the foreseeable future with all three modes of transport, namely, rail, road, and conveyor possible and provides fuel security.

Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.