Aug 26 2004
Vedanta Resources plc (“Vedanta”), the London-listed metals and mining group, acknowledges today’s supportive statement from the Orissa State Government and confirms that preliminary discussions have taken place with a view to the potential development of an iron ore mine in the state, combined with steel production.
In the event that the development proceeds, Vedanta would manage all the upstream projects, focusing exclusively on iron ore. Any steel production would be under the control of Volcan Investments Limited.
The state of Orissa, in India, is rich in both iron ore and alumina deposits. Vedanta already has a substantial alumina project in the state. The negotiations regarding iron ore are at an early stage but represent an opportunity for Vedanta to diversify its portfolio of base metals in a region where we have an established record for development.
There will be further announcements as appropriate.
For more information on steel manufacture, click here.