VED Vedanta

By Alex MacDonald

LONDON--Vedanta Resources PLC (VED.LN) said Tuesday it plans to complete the restart of damaged pots at its Jharsuguda-II Aluminium smelter in India in September, several months earlier than expected, and said its overall aluminum production target remains unchanged.

The U.K.-listed, India-focused miner said 168 pots were shut at its 1.25 million ton-a-year Jharsuguda-II aluminium smelter in August due to a power failure.

The company has been repairing the pots and has so far restarted 65 of them to date. It expects to complete the ramp-up of a batch of pots on the smelter's second line in the next three to six months and then plans to commission the third line of pots at the smelter in September, ahead of its previous schedule of the financial fourth quarter ending March 31, 2017.

The company also said its 325,000 ton-a-year BALCO-II smelter was successfully commissioned with all 336 pots operational in August.

The firm also started producing power from a new 660-megawatt unit at its Talwandi Sabo Power Plant in India's Punjab on Aug. 24.

Vedanta is producing aluminum at a current run-rate of around 1 million tons a year and reaffirmed its plan to produce 1.2 million tons of aluminum this financial year.

Write to Alex MacDonald at alex.macdonald@wsj.com

(END) Dow Jones Newswires

August 30, 2016 02:59 ET (06:59 GMT)

Vedanta (LSE:VED)
Historical Stock Chart
From Apr 2024 to May 2024

Vedanta (LSE:VED)
Historical Stock Chart
From May 2023 to May 2024