Vedanta’s parent sells $209 million stake
Vedanta Resources, the parent of Vedanta Ltd, has sold a stake worth more than 17.37 billion rupees ($209 million) in the Indian miner, exchange data showed on Thursday.
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Vedanta beats Q3 profit view on production
Indian metal-to-oil conglomerate Vedanta reported a smaller-than-expected drop in third-quarter profit on Thursday, as an uptick in production and sales outweighed lower metal prices.
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Billionaire-owned Vedanta seals Zambian copper assets deal
Mining News Pro - Vedanta Resources and the Zambian government on Monday sealed an agreement that restores the Indian company’s ownership of Konkola Copper Mines (KCM), ending a protracted ownership battle that stifled investment.
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Spotlight still on Vedanta $3 billion debt despite spinoff plan
Mining News Pro - Billionaire Anil Agarwal’s Vedanta Resources Ltd. is on a quest for cash. The junk-rated mining conglomerate has approached investors to restructure about $3 billion worth of bonds due in 2024 and 2025, while splitting its sprawling group to unlock better value for individual businesses. But debt investors aren’t convinced, and the group’s dollar bonds are tumbling.
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Vedanta dollar bonds slip after plan to split up India business
Mining News Pro - The dollar bonds of Vedanta Resources slipped, with one dropping the most in more than three weeks, on news Indian billionaire Anil Agarwal is planning to overhaul his sprawling conglomerate to tackle its debts.
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Zambia agrees to hand disputed copper assets back to Vedanta
Mining News Pro - Zambia has agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, mines minister Paul Kabuswe said on Tuesday, ending a row over the ownership of the assets that erupted in 2019 when authorities seized the mines.
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Vedanta posts 41% slump in Q1 profit on soft metal prices
Mining News Pro - Indian metals-to-oil conglomerate Vedanta reported a 40.8% plunge in first-quarter profit on Friday, as weak commodity prices outweighed a slight increase in production and sales for metals like aluminum.
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Vedanta in advanced stage of deal with Zambia over copper mine
Mining News Pro - Vedanta Resources, owned by Indian billionaire Anil Agarwal, said it has reached an “advanced stage” of executing agreements with the Zambian government over Konkola Copper Mines Plc assets that have been in provisional liquidation for about four years.
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Zambia says deal with India’s Vedanta over disputed copper assets imminent
Mining News Pro - Zambia is close to resolving a dispute with Vedanta Resources over its Konkola Copper Mines, with a deal over the future of the partly state-owned unit “imminent”, its mines minister said.
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Vedanta agrees to suspend lawsuits over Zambia copper mines
Mining News Pro - Billionaire Anil Agarwal’s Vedanta Resources Ltd. confirmed it has agreed to suspend legal action to reclaim copper mines Zambia seized three years ago, pending talks to settle the dispute.
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Zambia ends legal spat with Vedanta over seized copper mines
Mining News Pro - Zambia has agreed to end legal action against billionaire Anil Agarwal’s Vedanta Resources Ltd. as President Hakainde Hichilema seeks to revive mining output in the southern African country.
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Vedanta offers Zambia investment commitments if handed back KCM
Mining News Pro - Vedanta Resources has offered to step up investment in Zambia’s Konkola Copper Mines (KCM) and implement several social responsibility programmes if it resumes control of the local firm, a company letter sent to the government showed.
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‘No small feat’, says Vedanta as Lisheen receives closure certificate
Mining News Pro - The Lisheen mine, in Ireland, has formally transitioned into aftercare, signifying the completion of mine closure plan which started in 2015 when production at the former underground zinc and lead mine ceased.
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Vedanta reopens Gamsberg zinc mine in South Africa
Mining News Pro - Vedanta Zinc International said that mining has started again at its Gamsberg mine in South Africa following a closure in November when the pit wall collapsed, trapping miners underground.
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In blow to Vedanta, Zambian court rules KCM liquidator to stay in post
Mining News Pro - A Zambian court has ruled the State-appointed liquidator of Vedanta`s Konkola Copper Mines will not be discharged despite a November ruling ordering a halt to proceedings to allow Vedanta and minority KCM shareholder ZCCM-IH to pursue arbitration.
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Vedanta Resources bonds slide after downgrade deeper into junk
Mining News Pro - Vedanta Resources dropped in the bond market after a credit rating cut deeper into junk territory by Moody’s Investors Service.
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Vedanta continues search for worker trapped underground at South Africa zinc mine
Mining News Pro - Vedanta`s zinc unit said on Thursday it was still searching for an employee who was trapped underground following a rockfall last week at its Gamsberg zinc mine in South Africa.
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Zinc price soars as Vedanta halts Gamsberg mine after accident
Mining News Pro - Zinc prices climbed on Wednesday to an 18-month high after Vedanta suspended mining at its Gamsberg zinc mine in South Africa following an accident that trapped ten workers.
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Vedanta and Hindalco win first mine auction in India
Mining News Pro - Vedanta and Hindalco Industries were among the first private companies chosen to operate coal mines in India without end-use restrictions, the government said on Monday.
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Vedanta’s KCM warns part of Nchanga mine about to collapse
Mining News Pro - Zambia’s Konkola Copper Mines (KCM), a unit of diversified miner Vedanta Resources, has closed part of its open-pit mine as a portion of the pit is about to collapse, the chief executive officer said late on Thursday.
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Vedanta books $1.7 billion loss in Q4 as oil prices plunge
Mining News Pro - Indian miner Vedanta Ltd reported a net loss of 125.2 billion rupees ($1.7 billion) for the fourth quarter of its financial year, compared with a profit of 26.15 billion rupees in the same period a year earlier.
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Vedanta CEO Venkatakrishnan resigns
Mining News Pro - Diversified miner Vedanta said on Friday CEO S Venkatakrishnan has resigned due to personal reasons, less than two years after he took the helm.
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Zambia-Vedanta row escalates, minister calls company “criminal”
Mining News Pro - Zambia has escalated its attacks on miner Vedanta, owned by Indian mining magnate Anil Agarwal, saying the company has been involved in criminal activities, including underpaying taxes and breaking investment promises.
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Vedanta fails to stop KCM liquidation in meeting with Zambia’s president
Mining News Pro - Zambia’s President Edgar Lungu met with the chairman of Vedanta Resources to discuss the disputed liquidation of its Konkola CopperMines, a statement issued by the Zambian State House said on Wednesday.
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Nine companies weighing bids for Vedanta’s Zambian assets
Mining News Pro - Zambia expects nine companies to submit bids for Konkola Copper Mines (KCM) within weeks, mines minister Richard Musukwa said on Wednesday, even as a court case with Mumbai-listed Vedanta over its ownership was underway.
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