London-listed mining giant Vedanta’s proposed bauxite mine in Orissa’s Niyamgiri Hills has sparked protests in India and abroad. The environmental ministry, reacting to reports that the mining will impact the livelihood and traditions of the tribals who live in the vicinity of the mine, has withheld a final clearance to the mine.
In February this year, The Church of England decided to sell its entire stake in Vedanta, a FTSE listed company. But in an exclusive interview with NDTV’s Srinivasan Jain, the CEO of Vedanta Resources, Anil Agarwal, says he is going ahead with the project despite mounting unrest. Agarwal, who is based in London, says that the Church sent a representative to the site which found no violations. He called their decision to sell their shares nothing but hype.
See http://beta.profit.ndtv.com/news/show/vedanta-going-ahead-with-orissa-project-anil-agarwal-76574?cp.
S&P ups Indian mega-miner Vedanta’s Outlook to Positive
Vedanta Resources’ outlook has been revised to positive by credit rating agency Standard and Poors based on progressive commissioning of projects and higher production volumes.
See http://www.mineweb.com/mineweb/view/mineweb/en/page39?oid=106645&sn=Detail&pid=92730.