Some in the industry see this move as a prelude to a potentially broader deal with bigger miner Anglo American.
Vedanta Resources Mining News
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.
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).
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.
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'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.
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.
Company is accelerating expansion of its African zinc operations to take advantage of a surge in zinc prices.
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.
The transaction, financial details of which were not disclosed, is part of India's new bankruptcy law.
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.
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.
Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.
Stuart Chambers faces investor calls for clear direction at the company, long seen as a potential takeover target.
He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.
The news follows the exit of former Anglo American CEO Cynthia Carroll, who stepped down last month.
Deal would make of Volcan Investments Ltd., Agarwal's family trust, the second-largest investor in Anglo American.
Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.
Carroll, who led Anglo American from 2007 to 2013, will chair the company’s Vedanta Resources Holdings Ltd. unit and advise the group’s chairman.
The country’s environmental management authority found the copper concentrate imported from Chile had high levels of arsenic, a toxic substance.
Konkola Copper Mines, owned by Vedanta, said the move was a result of poor metal prices, which has hit the global copper industry very hard.
India's private iron ore producers are likley to suffer the effects of high costs, low prices and a poor export market.
London-listed Vedanta Mining (LON:VED) will be in court to defend itself against claims by hundreds of Zambian villagers that its copper mining operations polluted a water source and farmland.
Power restrictions could hit output of most copper mines operating in the country.
The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.