Indian Fab Four - ICVL, HIndustan Zinc, NMDC and JSW Steel - shine in Platts Global Metals Awards 2015

KOLKATA: Four Indian companies were among the winners at the third annual Platts Global Metals Awards, which recognize exemplary performance in nearly a dozen categories across the steel, metals and mining sectors. The four domestic companies that bagged awards in this year’s ceremony in London were Hindustan Zinc, JSW Steel, NMDC Limited and International Coal Ventures Ltd.The event hosted by Platts, a leading global energy, metals and commodities information provider, was attended by nearly 200 industry executives.

ICVL clinched the 'Deal of the Year' impressing the independent panel of judges for its acquisition of an operating coking coal mine and greenfield coal assets in Mozambique from Rio Tinto, completed in October 2014 for approximately $50 million. Rio Tinto had acquired the assets from Australia’s Riversdale Mining in 2011 for approximately $4 billion, but ongoing logistical difficulties coupled with the plummeting price of coal caused it to reassess.
Hindustan Zinc Ltd (HZL), part of the Vedanta group won the Industry Leadership Award for Base Metals award. The company, which first started as a government-owned business, is now one of the world’s largest integrated producers of zinc, and a leading global lead and silver producer. The judges felt HZL has exhibited outstanding performance in its market.“It was always a strong business,” said one of the judges on the independent judging panel, “but after its sale to Vedanta came the growth.”

The Industry Leadership Award for Raw Materials & Mining was bagged by NMDC Limited, the country's largest iron ore miner and one of the lowest cost producers in the world. The company was recognized by the judges for leveraging low cost production in a low price environment, an official statement from Platts said.

JSW Steel walked away with the ndustry Leadership Award for Steel. One of the country's largest private sector steel producers the company is also India’s largest exporter of coated products. The firm was recognized by the panel of judges for its agility in challenging times and for its market appropriate strategy of combining value, volume and innovation.

“Each of this year’s winners and finalists deserves praise for important contributions to the metals sector in these challenging times of oversupply and soft prices,” said Larry Neal, president of Platts. “It’s notable in the 2015 competition that companies were thinking outside the box and taking measures to move up- and down-stream in search of competitive edge and improved financial performance.”

The Platts judges panel made a unanimous selection to confer the title 2015 Metals Company of the Year to Alcoa, the American aluminum producer. In making its unanimous selection for this title, the panel applauded the company’s nimble and strategic re-direction, calling it a “once-in-a-century shift.” CEO of the Year, one of the program’s most coveted awards, went to Mario Longhi, head of U S Steel.