Vedanta Resources PLC Update on Tuticorin Smelter (2259P)

TIDMVED

RNS Number : 2259P

Vedanta Resources PLC

24 May 2018

Vedanta Resources plc

16 Berkeley Street

London W1J 8DZ

Tel: [phone]

Fax: [phone]

www.vedantaresources.com

24 May 2018

Vedanta Resources plc

Update on Tuticorin Smelter

Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement.

The Tamil Nadu Pollution Control Board (TNPCB) vide its order dated May 23, 2018 ordered disconnection of electricity supply and closure of the Company's 'Copper Smelter Plant 1 at Thoothukkudi District, Tamil Nadu' under provisions of Section 33A of the Water (Prevention and Control of Pollution) Act, 1974 and Section 31A of Air (Prevention and Control of Pollution) Act, 1971, with immediate effect. We would also like to inform that the plant was not operating since March 27, 2018.

We continue to work with the regulatory authorities, at all time ensuring compliance with the necessary regulations.

In terms of Regulation 30 of the SEBI Listing Regulations, please note that the said Copper Smelter has contributed Rs. 1,373 Crore i.e. 5.4% of the consolidated EBIDTA during the last financial year 2017-18 and the carrying value of property, plant and equipment as at March 31, 2018 was Rs. 2,131 Crore i.e. 2% of total assets.

For further information, please contact:

 
 Communications                    Finsbury 
 Arun Arora                        Daniela Fleischmann 
  Head, Corporate Communications    Tel: [phone] 
  Tel: [phone] 
  [e-mail] 
 Investors 
 Rashmi Mohanty                    Tel: [phone] 
  Director - Investor Relations     Tel: [phone] 
                                    [e-mail] 
 
  Sunila Martis 
  Associate General Manager 
  - Investor Relations 
 
  Veena Sankaran 
  Manager - Investor Relations 
 

About Vedanta Resources

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia and South Africa. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCFKQDKNBKDDPB

(END) Dow Jones Newswires

May 24, 2018 09:05 ET (13:05 GMT)