U.S. judge orders Vedanta to pay $82.75m in damages Vedanta Resources has been dealt a “comeuppance” – yet again. This time, however, it has little to do with the UK company’s unparalleled disrespect for communities, workers or the environment. Having failed to pay an agreed sum for bankrupted Asarco in 2008, Vedanta’s been found guilty of breach of contract, and ordered to pay the US copper company more than US$ 82 million in damages. Historically, Asarco was one of the worst polluting of all US mining companies. Its new owner, Grupo Mexico, is also one of the most criticised of Latin American corporations. As for Vedanta – few people will shed a single tear over its latest predicament. However shareholders – notably majority stakeholder Anil Agarwal – may have a sleepless hour or two.
See http://www.minesandcommunities.org/article.php?a=11508.