Vedanta Resources PLC Commencement of Iron Ore operations at Goa (5534V)
10 August 2015 - 5:49PM
UK Regulatory
TIDMVED
RNS Number : 5534V
Vedanta Resources PLC
10 August 2015
Vedanta Resources
plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499
5900
Fax: +44 (0) 20 7491
8440
www.vedantaresources.com
10 August 2015
Vedanta Resources plc
Commencement of Goa Iron Ore Operations
The following release was issued today by Vedanta Resources
Plc's subsidiary Vedanta Limited.
Vedanta Limited
Commencement of Goa Iron Operations
New Delhi, India, August 10, 2015: Vedanta Limited ('the
Company') has received the relevant consent, license and approvals
to commence the iron-ore mining operations in the State of Goa for
some of its leases. The Company is likely to recommence operations
from August 10, 2015 at its biggest mine at Codli in Sanguem taluka
in Goa. Further the company has been granted approval for total
extraction of 5.5 million metric tons of which Codli is 3.1 million
metric tons. Till date, five mining plans and schemes for Company's
mines have been cleared by Indian Bureau of Mines and we are
awaiting clearance of further 15 plans. Over the balance monsoon
period we anticipate receiving these approvals and expect a full
scale resumption post monsoon.
Even as India and in particular miners from Goa look to regain
lost markets, Iron ore markets/prices are weak and the
international trade environment remains challenging. We continue to
work with central and state government to improve competitiveness
of Indian exports.
Prior to the suspension of mining in 2012, India was the third
largest exporter of Iron Ore and Vedanta Ltd was the largest Indian
exporter of low grade Ores.
Mining operations in Karnataka resumed in February 2015.
For further information, please contact:
Communications Finsbury
Roma Balwani Daniela Fleischmann
President - Group Communications, Tel: +44 20 7251 3801
Sustainability
and CSR
Tel: +91 22 6646 1000
gc@vedanta.co.in
Investors
Ashwin Bajaj Tel: +44 20 7659 4732
Director - Investor Relations Tel: +91 22 6646 1531
ir@vedanta.co.in
Anshu Goel
Vice President - Investor
Relations
Radhika Arora
Associate General Manager
- Investor Relations
About Vedanta Resources
Vedanta Resources Plc ("Vedanta") is a London-listed diversified
global resources company. The group produces aluminium, copper,
zinc, lead, silver, iron ore, oil & gas and commercial energy.
Vedanta has operations in India, Zambia, Namibia, South Africa,
Ireland, Liberia, Australia and Sri Lanka. With an empowered talent
pool globally, Vedanta places strong emphasis on partnering with
all its stakeholders based on the core values of entrepreneurship,
excellence, trust, inclusiveness and growth. For more information,
please visit www.vedantaresources.com.
Disclaimer
This press release contains "forward-looking statements" - that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters
of national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause our actual future results to be
materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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