Vedanta eyes 11% cut in aluminium making cost to $1,700/tonne by FY19-end

The cost cut is expected to improve viability of firm's aluminium business in the backdrop of recent softening of metal prices on LME

Vedanta aims to cut down cost of its aluminium production to $1,700 per tonne from over $1,900 by the end of this financial year.

“We are putting in place a plan to reduce our production cost by the end of this year. The work to this effect has already started,” said Ajay Dixit, chief executive officer (CEO), aluminium and power vertical of Vedanta.

The production cost cut is expected to improve the viability of Vedanta’s aluminium business in the backdrop of recent softening of metal prices on the London Metal Exchange (LME). The LME price of aluminium, which was $2,600