Sterlite is India's largest non-ferrous metals and mining company and is one of the fastest growing private sector companies. We aim to create a globally respected, world-class metals and mining company that generates consistently strong financial returns for its shareholders. A majority of our operations are certified to the International Standards like ISO 9001, ISO 14001 and OHSAS 18001.
Sterlite Copper is one of the largest integrated copper rod producers in Asia. Our primary products are copper cathode & copper rods and its by-products (sulphuric and phosphoric acid). The business comprises of two units – Tuticorin in the Southern State of Tamil Nadu and Silvassa in the Union Territory of Dadra and Nagar Haveli located in Western region of India
The Tuticorin operations include a copper smelter, a refinery, a phosphoric acid plant, a sulphuric acid plant and copper rod plant; whilst our Silvassa operations comprise a refinery and two copper rod plants. The Tuticorin Smelter has been operating for more than thirteen years in accordance with global standards. It employs the ISA Smelt process which is considered globally as an environmentally advanced technology. Sterlite Copper is a LME approved copper tester. Our copper products meet the requirement of Restriction of Hazardous Substances (RoHS complied) and certified by Underwriters Laboratories Inc. Its Central lab at Silvassa is a GoI approved R&D laboratory. The Company has also won numerous awards for safety and environment.
Hindustan Zinc (HZL)
Sterlite acquired 64.9% ownership interest in HZL in the year 2002 when the Government disinvested the stake down to 29.5% and institutional and public shareholders (5.6%). HZL is India's leading primary zinc producer with an 82.1% market share by sales volume in India in fiscal 2011, according to the Indian Lead Zinc Development Association (ILZDA). In 2011, Brook Hunt agency quoted HZL as the world's largest integrated producer of zinc based on production volumes & in the lowest cost quartile in terms of all zinc mining operations worldwide and HZL's Rampura Agucha mine as the largest zinc mine in the world on a production basis. Mined metal production of zinc and lead increased in the financial year 2010-11, up 9.0% to 840 KT.
HZL's operations include four lead-zinc mines, four hydro-metallurgical zinc smelters, one lead smelter, one lead-zinc smelter, five sulphuric acid plants, one silver refinery, five captive power plants in Northwest India, one hydrometallurgical zinc smelter and a sulphuric acid plant at its Vishakapatnam facility in Southeast India.
HZL has entered into a consortium for developing the Madanpur South Coal Block in Chhattisgarh for securing its coal requirements for captive power generation. The establishment of additional wind power plants of 150 MW was announced by HZL, of which 48 MW have already been commissioned during the year taking the wind generation capacity to 171 MW as on 31 March 2011. The power generated from these wind power plants is proposed to be sold to state electricity boards in India. This project is anticipated to be funded through internal resources and would provide tax incentives under the Income Tax Act.
During the year, the Company completed the acquisition of Anglo American Plc's zinc assets (Anglo Zinc) for a total cash consideration of $1,513 million. This acquisition comprised the 100 % owned Skorpion mine in Namibia, the 100% owned Lisheen mine in Ireland and the 74% owned Black Mountain Mines, which includes the Black Mountain mine and the Gamsberg project in South Africa. Anglo Zinc will create significant long term value for shareholders and with this acquisition, our global positioning is deemed as the world's largest integrated zinc – lead producer with significant reserves and resources of 478 million tonnes.
Bharat Aluminium Company (BALCO)
BALCO is one of the four primary producers of Aluminium in India. Government of India (GoI) divested 51% equity in the year 2001 in favour of Sterlite Industries. The Company is playing a crucial role in introducing aluminium as a potential alternative to other metals like Steel in construction, and Copper in power transmission industry. After disinvestment, a pre-baked smelter of capacity 245 KT per annum was established in the year 2004. The smelter plants are being supported by uninterrupted power supply through Captive Power Plants - 270 MW at Jamnipali, Korba and 540 MW at the smelter site.
According to Aluminium Association of India (AAI), BALCO presently has a 36% primary market share by production volume in India. BALCO's partially integrated operations include two bauxite mines, captive power plants and refining, smelting and fabrication facilities at our Korba facility in Central India. During the year, the production of saleable metal was 2,55,298 MT from the 2.45 lakh MT per annum pre-baked smelter as compared to 2,68,425 MT in the previous year including production from the VSS smelter which was completely phased out in June 2009.
BALCO has commenced implementation of the MoU with the Government of Chhattisgarh for setting up of a new smelter with a 6.5 lakh MT per annum capacity. We have commenced the implementation process of the first phase of expansion for setting up 3.25 lakh MT per annum pre-bake aluminium smelter at an estimated project cost of Rs. 3,215 Crore for commissioning by Q2 of FY 2013.
BALCO is in the process of setting up the 1200 MW power plant project at a cost of Rs. 4,912 Crore. The first two units are expected to be commissioned in FY 2011- 12. Consequently the synchronisation of the third and fourth unit is expected in second quarter of 2012-13. Subject to statutory consents, the approval process for BALCO's 211 million tonnes coal block is progressing well and is expected to commence coal mining by Q4 FY 2011-12.
Sterlite Energy (SEL)
Sterlite is currently developing a commercial power generation business in India that leverages its experience in setting up and operating captive power plants that support its primary businesses. Sterlite Energy has set up a 2,400 MW thermal coal-based power facility (comprising four units of 600 MW each) in Jharsuguda in the State of Orissa. The 2400 MW Independent Power Plant Jharsuguda, Orissa at a cost of Rs. 8,484 Crore is under progress and is expected to complete by end of FY 2012.
Talwandi Sabo Power Limited (TSPL), a 100% subsidiary of SEL, will be implementing the largest 1980 (3x660) MW Greenfield Power Project in Punjab, India, with all consents and approvals in place. Further, TSPL has decided to add one more unit of 660 MW under the Power Generation Policy 2010 of the State of Punjab to sell 85% of the power generated as Merchant Power. Thus the capacity of the project will be enhanced to 2640 (4x660) MW. TSPL is one of the first few Supercritical plants being constructed in the country. The Supercritical technologies are environment friendly and energy efficient technologies.
Copper Mines of Tasmania (CMT)
We own the Mt. Lyell copper mine at Tasmania in Australia, which provides around 8% of our copper concentrate requirements at Sterlite Copper. Mount Lyell Mine, located in Queenstown, Tasmania is a copper mine with more than 100 years of operation. First started in 1896, it was re-opened by Copper Mines of Tasmania in 1995. Acquired by Sterlite Industries in 1999, Copper Mines of Tasmania (CMT) is a part of the fast growing Vedanta group of companies. CMT mined and treated almost 2.12 million tonnes of ore to produce 23,777 tonnes of contained copper concentrate in 2009-10. The copper is mined using a sub-level caving mining method and work is carried out at 1000 meters below the original surface (600 meters below 0m Australian height datum 2000RI). Primary crushing takes place underground and ore is then automatically hoisted up a 600 metre shaft to be transported to the concentrator on a 1.2 kilometre overland conveyor belt. In the plant, the ore is crushed using three stage crushing, ground down to a fine slurry and the copper sulphide minerals are then concentrated. After filtration, the concentrate is transported to Burnie port from where it is exported to Sterlite's copper smelter in Tuticorin, India.