Vedanta revises production plan
Friday 08 October 2010
Vedanta Resources confirmed yesterday that it has postponed its planned aluminium expansion after it was denied a licence to mine bauxite by the Indian government in August.
The world's biggest zinc producer said that it had reviewed its capital expenditure plans after India's environment ministry scotched its proposal to build the mine in the tribal area of Orissa state, on environmental concerns.
The statement came as part of a production report, which showed that Vedanta's output of refined zinc grew by 25 per cent in the second quarter, to 176,000 tonnes. Zinc is the group's most profitable commodity, accounting for more than 40 per cent of its earnings.
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