Vedanta Resources Mining News

Vedanta says Anglo American stake buy meets Gov’t criteria

Shares in the company lost a fifth of their value on Friday as investors were sceptical of its foreign subsidiary Cairn India Holdings’ $200 million investment in the diversified miner.

Vedanta tells top English court pollution case should be heard in Zambia

The two-day hearing will be watched by other multinational companies with a base in London and facing legal challenges about their operations abroad.

Zambia Vedanta unit halts operations at underground mine on tax concerns

Konkola Copper Mines (KCM), majority owned by Vedanta, suspended operations at its Nchanga mine following the introduction of an import duty on copper concentrates, the company said.

Indian court orders Vedanta to not reopen copper smelter for a month – petitioner

The case was filed in the Madras high court by anti-Vedanta campaigner Fatima Babu, challenging a decision by the national green tribunal.

Zambia tax hike to make most mines unprofitable, group says

The effective tax rate will range from 86% to 105%, with about 27,900 jobs at risk - Zambia Chamber of Mines.

India court panel extends hearing on Vedanta smelter case

State authorities permanently shut down the Tamil Nadu plant after police fired on protesters calling for the closure of the plant in May over concerns it was polluting their air and water.

Zambia power system glitch cuts electricity supply to some mines

Power restoration has started but it will be gradual.

Zambia's finance minister says new mining taxes will not hit operations

Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes.

Copper smelter hits cause physical squeeze in Asia

The copper market is currently experiencing a squeeze on physical metal which is unexpected.

Zambia says open to dialogue with miners over tax increases

Africa's second-largest copper producer said late last month that it would introduce new mining duties and increase royalties to help bring down mounting debt.

Nyrstar profit warning highlights zinc's disconnects

Belgian zinc producer Nyrstar issued a profit warning last week, citing "adverse market conditions".

India's Anil Agarwal succeeds with Vedanta Resources buyout

Some in the industry see this move as a prelude to a potentially broader deal with bigger miner Anglo American.

Global bauxite production to grow: Fitch

Fitch Solutions Macro Research states that bauxite production growth will remain high over the coming years, as new projects come online in Australia, Indonesia expands exports, India’s production ramps up, and existing projects in Guinea drive growth.

Anil Agarwal given more time to make firm offer for Vedanta Resources

He has been given more time to make a firm offer or walk away from a deal to buy out minority shareholders in Vedanta Resources for 778 million pounds ($1 billion).

Anil Agarwal faces shareholder resistance to $1 billion Vedanta bid

Billionaire Anil Agarwal faces investor resistance to his $1 billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private.

Zambia aiming for power prices that reflect costs by end 2018

The new measure will affect global mining firms including First Quantum Minerals, Glencore, Barrick Gold Corp and Vedanta Resources which currently pay a flat rate of 9.30 cents/kWh.

Vedanta to double output at Zambia's Konkola Copper Mines – regional CEO

Vedanta's Deshnee Naidoo told Reuters, adding that KCM is on track to produce 400,000 tonnes of copper a year in the next few years.

Vedanta’s troubles worsen as Indian state orders permanent closure of smelter

Deadly protests last week over alleged pollution from the Tuticorin smelter have prolonged a shutdown of the 400,000 tonnes-a-year operation. This time it seems to be forever.

Vedanta considers building zinc smelter in South Africa

Company is accelerating expansion of its African zinc operations to take advantage of a surge in zinc prices.

Vedanta, others can transport royalty-paid iron ore from Goa -Court

India's Supreme Court in February quashed all iron ore mining permits in the southwestern state of Goa, one of the top producing states for the steel making raw material.

Vedanta wins bid to buy bankrupt Electrosteel Steels

The transaction, financial details of which were not disclosed, is part of India's new bankruptcy law.

Vedanta shuts protests-ridden copper smelter in India for 15 days

The maintenance activity, originally scheduled for April, comes amid media reports that thousands had taken to the streets and shut shops in Thootukudi to protest against the expansion of the smelter.

Vedanta hit by iron ore mining halt in Goa

Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.

Agarwal plans to keep his Anglo American stake for a long time

Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.

Anglo American investors demand clarity as dealmaker incoming chairman arrives

Stuart Chambers faces investor calls for clear direction at the company, long seen as a potential takeover target.