Mining and metals magnate Sanjeev Gupta is reorganising his businesses to appeal to investors and debt markets and prepare for his push into climate friendly manufacturing.
Gupta announced in London that his global aluminium interests would be combined into a new entity Alvance Aluminium Group which would achieve operational synergies.
Gupta said in a statement: “The creation of Alvance highlights the global nature of our ambitions…Alvance now aims to establish itself as a champion for green aluminium.”
Gupta owns European smelters and has been eying off the Alcoa Portland smelter in Victoria which has been losing money, as reported in @AuManufacturing.
Last year the British billionaire also re-organised his iron ore and steel businesses into Liberty Steel Group which includes Liberty Primary Steel and Mining Australia.
The new entity has three divisions – Liberty Primary Steel, Liberty GreenSteel which operates electric arc furnaces in Australia and Liberty Engineered Steel.
It is pushing ahead with greening its Whyalla mining and primary steel operation with the construction of the Cultana Solar Farm in South Australia which will boast 780,000 solar PV panels.
This will be backed up by pumped hydro energy storage systems in former iron ore pits such as Iron Knob near Whyalla.
His companies are also interested in using hydrogen produced from water using green power. thyssenkrupp has pioneered the development of such green steel.
Gupta’s empire has come under fire from investors for the opaque financing of acquisitions through his GFG Alliance.
Picture: Whyalla steelworks
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