Vedanta to save Rs 800 per tonne in long-term bauxite deal with OMC

Long-term supply price arrived at Rs 465 per tonne in first bauxite auction

After years of struggle to secure raw material for its Lanjigarh alumina refinery following Niyamgiri fiasco, Vedanta has finally clinched a deal with state-owned Odisha Mining Corporation (OMC) for the supply of bauxite to its beleaguered plant.

As a result of this deal, Vedanta is expected to get 0.8 million tonnes of bauxite from the OMC in the current financial year at a price, which is estimated to be Rs 700 to Rs 800 per tonne cheaper compared to the landed cost of bauxite at the Lanjigarh plant site at present.

In the first-ever auction of bauxite at the country,