Sterlite Industries (India) Limited - Sterlite Industries India Ltd.

More documents

Recommendations

Info

• increasing the percentage of concentrates being sourced from its Rampura Agucha mine as compared to its other mines to lower its cost of obtaining zinc concentrate; • continuing its initiatives to improve operational efficiencies at its existing operations; • reducing power costs; • reducing the size of its workforce including through a voluntary retirement plan; and • increasing productivity and upgrading existing technology. We have a 64.9% ownership interest in HZL, with the remainder owned by the Government of India (29.5%) and institutional and public shareholders (5.6%). We currently hold a call option to acquire the Government of India’s remaining ownership interest at a fair market value to be determined by an independent appraiser. This call option is exercisable so long as the Government of India has not sold its remaining interest pursuant to a public offer. See “— Options to Increase Interests in HZL and BALCO” for more information. Principal Products Zinc We produce and sell zinc ingots in all three international standard grades: Special High Grade (SHG — 99.994%), High Grade (HG — 99.95%) and Prime Western (PW — 98%). We sell most of our zinc ingots to Indian steel producers for galvanizing steel to improve its durability. Some of our zinc is also sold to alloy, dry cell battery, die casting and chemical manufacturers. Lead We produce and sell lead ingots of 99.99% purity primarily to battery manufacturers and to a small extent to chemical manufacturers. Sulphuric Acid Sulphuric acid is a by-product of our zinc and lead smelting operations. We sell sulphuric acid to fertilizer manufacturers and other industries. Silver Silver is a by-product of our lead smelting operations. We produce and sell silver ingots primarily to industrial users of silver. Our Production Process Our zinc business has a number of elements which are summarized in the following diagram and explained in greater detail below:
Lead-Zinc Mines HZL sources all of the lead-zinc ore required for its business from its Rampura Agucha open-pit mine and the Zawar and Rajpura Dariba (including Sindesar Khurd) underground mines in Northwest India. Lead-zinc ore extracted from the mines is conveyed to on-site concentrators and beneficiation plants that process the ore into zinc and lead concentrates. With its low strip ratio and good ore mineralogy providing a high metal recovery ratio, the Rampura Agucha mine accounted for 91% of HZL’s total mined metal in zinc concentrate produced in fiscal 2009, with the Zawar and Rajpura Dariba mines accounting for the remaining 4% and 5%, respectively. The zinc and lead concentrates are then transported by road to the nearby Chanderiya and Debari smelters and by rail and road to the Vizag smelter in Southeast India. HZL has also sold surplus zinc and lead concentrates from its mines to third party smelters. 34
Page 1 and 2: Yes Yes No No (Mark One) UNITED
Page 3 and 4: TABLE OF CONTENTS PAGE ITEM 4. INFO
Page 5 and 6: • Part I — Item 6. Directors, S
Page 7 and 8: Refined Copper Consumption Global c
Page 9 and 10: Indian Copper Market Background The
Page 11 and 12: The following table sets forth the
Page 13 and 14: Market Outlook Global Zinc Outlook
Page 15 and 16: Notwithstanding the rise in aluminu
Page 17 and 18: Market Outlook Global Aluminum Outl
Page 19 and 20: Consumption Although electricity ge
Page 21 and 22: Power Trading Power trading takes p
Page 23 and 24: In addition, we are expanding our a
Page 25 and 26: • India’s economic growth and p
Page 27 and 28: We utilize project monitoring and a
Page 29 and 30: Seeking further growth and acquisit
Page 31 and 32: Our Production Process Our copper b
Page 33 and 34: The following map shows the locatio
Page 35 and 36: The principal deposits in the Mt. L
Page 37 and 38: consists of a 400,000 tpa copper sm
Page 39: Once processed at the Tuticorin fac
Page 43 and 44: Principal Facilities Overview The f
Page 45 and 46: Mines Rampura Agucha The Rampura Ag
Page 47 and 48: The gross book value of the Rajpura
Page 49 and 50: Summary of Mine Reserves The follow
Page 51 and 52: The following table sets out HZL’
Page 53 and 54: Market Share and Competition HZL is
Page 55 and 56: Additional Supply of Alumina The ad
Page 57 and 58: Bauxite Mines Chhattisgarh Mines Th
Page 59 and 60: Fabrication Facility The fabricatio
Page 61 and 62: Other Raw Materials BALCO also uses
Page 63 and 64: 1,250,000 tpa Aluminum Smelter Veda
Page 65 and 66: Sterlite Energy — Talwandi Sabo I
Page 67 and 68: Call Option Over Shares in BALCO On
Page 69 and 70: mineral development on the forest,
Page 71 and 72: Water (Prevention and Control of Po
Page 73 and 74: The employer is responsible for ded
Page 75 and 76: Our net sales and operating income
Page 77 and 78: • Power. Our commercial power gen
Page 79 and 80: Copper The net sales of our copper
Page 81 and 82: Year Ended March 31, 2007 2008 2009
Page 83 and 84: In addition, the Finance Act (2 of
Page 85 and 86: Power Business We expect our future
Page 87 and 88: Results of Operations Overview Cons
Page 89 and 90: • Pursuant to the approval of the
Page 91 and 92:
Aluminum Net sales to external cust
Page 93 and 94:
the selling and distribution expens
Page 95 and 96:
• Aluminum production increased f
Page 97 and 98:
We currently expect capital expendi
Page 99 and 100:
Besides existing facilities, we had
Page 101 and 102:
Energy is in the process of obtaini
Page 103 and 104:
Contractual Obligations The followi
Page 105 and 106:
SFAS No. 161, “Disclosures about
Page 107 and 108:
ITEM 6. DIRECTORS, SENIOR MANAGEMEN
Page 109 and 110:
ITEM 19. EXHIBITS The following exh
Page 111 and 112:
4.15 Rs. 7,000 million Rupee Term F
Page 113 and 114:
4.41 Rs. 10,000 million Loan Agreem
Page 115 and 116:
Exhibit 12.3 Certification of Chief
show all

Sterlite Industries (India) Limited - Sterlite Industries India Ltd.

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?