Vedanta Resources Mining News

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.

Indian billionaire Agarwal to be Anglo American’s top shareholder

He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.

Vedanta CEO Tom Albanese to leave company in August

The news follows the exit of former Anglo American CEO Cynthia Carroll, who stepped down last month.

Indian billionaire Agarwal goes after 12% of Anglo American

Deal would make of Volcan Investments Ltd., Agarwal's family trust, the second-largest investor in Anglo American.

Anglo American declines merger offer from Vedanta

Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.

Former Anglo CEO Cynthia Carroll is back, joins Vedanta's unit board

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.

Zambia orders Vedanta unit to get rid of Chilean copper

The country’s environmental management authority found the copper concentrate imported from Chile had high levels of arsenic, a toxic substance.

Vedanta forces 133 of its Zambian workers to take paid leave

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 picks worst time to resume iron ore mining — analysts

India's private iron ore producers are likley to suffer the effects of high costs, low prices and a poor export market.

Mining firm faces pollution allegations in Zambia

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.

Zambia power cuts feed copper supply worries, lift prices

Power restrictions could hit output of most copper mines operating in the country.

Zambia mining industry says new rules to scare investors, deter local processing

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.

Zambia to slash royalties, reinstate mining tax

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

Zambia sells stake in state-owned copper miner

The country's national pension fund has bought 15.9 million shares of Zambia's Consolidated Copper Mines-Investment Holdings for almost $80 million.

Zambia mulls cutting mining royalties even further

Mines minister Christopher Yaluma said reducing royalties below the recently revised 9% would make underground mining more cost effective.

It’s official: Zambia scales back mining royalties to 9%

The announced changes will be effective on July 1, once parliament has approved them.