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Sterlite Industries (India) Limited (“Sterlite”
or the “Company”)
announces that the Honourable Supreme Court of India today approved the
bauxite mining project at Lanjigarh in the Kalahandi District of Orissa.
The Company is delighted that the project has been given the go-ahead
and is committed to its implementation in accordance with the guidelines
and safeguards laid down.
The bauxite mining project along with the Lanjigarh alumina refinery
will bring significant employment and economic livelihood for the local
people and contribute to the overall development of the region.
About Sterlite Industries
Sterlite Industries is India's largest non-ferrous metals and mining
company with interests and operations in aluminum, copper and zinc and
lead. It is a subsidiary of Vedanta Resources plc, a London-based
diversified FTSE 100 metals and mining group. Sterlite Industries' main
operating subsidiaries are Hindustan Zinc Limited for its zinc and lead
operations; Copper Mines of Tasmania Pty Limited for its copper
operations in Australia; and Bharat Aluminum Company Limited for its
aluminum operations. The company operates its own copper operations in
India. The company has entered the commercial energy generation business
and is in the process of setting up a 2,400MW independent power plant
through its wholly owned subsidiary, Sterlite Energy Limited. Sterlite
Industries is listed on the Bombay Stock Exchange and National Stock
Exchange in India and the New York Stock Exchange in the United States.
For more information, please visit www.sterlite-industries.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.