Ever since its triumphant listing on the London Stock Exchange in December 2003, Vedanta Resources has moved several big steps forward, yet suffered several setbacks at the same time.
Last month, the company announced it was exploring for iron ore in Liberia. This came just as a court challenge was made to Vedanta’s take-over of Cairn India, which granted the UK outfit access to the country’s most prospective oil field.
Vedanta has also just taken control of a major child nutrition programme in Karnataka, despite accusations that the move is illegal. It’s also been vigorously contested by the very workers responsible for the scheme.
See http://www.minesandcommunities.org/article.php?a=11659.