Aditya Birla Minerals (ABY)

Shares / Stock Code

ABY

Stock Exchange / Sharemarket

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Aditya Birla Minerals (ABY) is an exploration company engaged in the exploration, mining, processing and marketing of copper metal. The Company is mainly involved in the Nifty copper operation in the Pilbara region, northern Western Australia, and the Mt Gordon copper operation in northwest Queensland, Australia.ABY was listed on the Australian Stock Exchange on May 12, 2006. The Nifty copper operation includes an open pit mine, heap leach pads and a solvent extraction and electrowinning (SX–EW) processing plant, which produces copper cathode. The company’s Nifty's copper cathode has a capacity of 25 ktpa. Nifty produced 15,826 tonnes of copper cathode in FY2005. The company’s Nifty Oxide Operations produced 15,312 metric tons of copper cathode during the fiscal year ended March 31, 2007, and Nifty Sulphide Project, produced 86,882 metric tons of concentrate containing 19,710 metric tons of contained copper in fiscal 2007. ABY's Mount Gordon Operations included shipment of 23,394 metric tons of contained copper from mining and processing of ores from the Mammoth underground and Esperanza material in fiscal 2007.

Aditya Birla Mineralshas a 50% interest in the Maroochydore Copper Project joint venture, situated approximately 100 kilometers southeast of Nifty and approximately 60 kilometers south southeast of the Telfer copper-gold mine via its completely owned subsidiary Birla Maroochydore Pty Ltd. ABY owns exploration rights in the Paterson province of Western Australia and in Queensland.

Aditya Birla Minerals History

ABY was established by Hindalcod in 2003 to secure copper concentrate supply for Indian smelters. The Company also acquired both its Nifty and Mt Gordon operations and substantial, prospective adjacent exploration tenements later in the year 2003.The company owns a distinguished position in the resources industry .The parent company of ABY is Hindalco, an Indian company that is in the Top 15 aluminium and copper producers worldwide. ABY is a part of the broader Aditya Birla Group that is one of India’s largest industrial conglomerates. According to the contract Birla Minerals sells copper in concentrate to Hindalco at international benchmark prices.