Vedanta Resources PLC Commencement of Iron Ore operations at Goa (5534V)

TIDMVED

RNS Number : 5534V

Vedanta Resources PLC

10 August 2015

 
 
            Vedanta Resources 
                          plc 
           16 Berkeley Street 
               London W1J 8DZ 
         Tel: [phone] 
                         5900 
         Fax: [phone] 
                         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: [phone] 
  Sustainability 
  and CSR 
  Tel: [phone] 
  [e-mail] 
 Investors 
 Ashwin Bajaj                         Tel: [phone] 
  Director - Investor Relations        Tel: [phone] 
                                       [e-mail] 
  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

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