Coal imports are surging after the government failed to open the industry to competition, despite having passed a liberalization policy 19 months ago.
Agarwal has delisted his flagship Vedanta Resources from the London Stock Exchange (LSE) and is now concentrating on growing mineral mining and oil and gas businesses out of the India-listed firm, Vedanta Ltd.
The $940 million rail project was designed to ferry mining resources from remote regions to ports.
Hindalco, Vedanta boost aluminium sales to Japan as U.S. sanctions against Russia, import tariffs shake-up traditional supply routes
India’s product has generally not been regarded as high enough quality by Japan’s demanding buyers, who have preferred top-tier producers like Rio Tinto, Alcoa and South32 as well as United Company Rusal.
Chhattisgarh Assembly: Speaker suspends 29 Congress MLAs for questioning firm with ties to Nirav Modi
Opposition Congress created an uproar in Chhattisgarh Legislative Assembly alleging that the state government has invited an associate company of Nirav Modi, an accused in Punjab National Bank scam, for investment in the state
A rare violet diamond, the largest of its kind ever found at Australia's remote Argyle mine, will be the centrepiece of Rio Tinto's annual pink diamonds showcase, the company said Tuesday.
Anil Agarwal-led Vedanta recently hiked stake in its subsidiary Cairn India, oil and gas exploration firm, by nearly 5 percent.
Corporates from India and abroad pledged to invest an astonishing Rs 25 lakh crore and signed 21,000 MoUs at the Vibrant Gujarat Summit
consultants have been appointed to explore if it would make sense to merge the two firms into Sesa Sterlite.
A merger would have created the world's biggest miner, supplanting BHP Billiton.<br />
Power producer NTPC and world's largest coal miner Coal India, who earlier wanted to disassociate from ICVL but are still under the fold, are not willing to take part in this particular acquisition
Rio Tinto said on Wednesday it would sell the Benga mine and other projects in Tete province it bought via a $4 billion acquisition of Riversdale Mining in 2011 for just $50 million to the group, International Coal Ventures Pvt Ltd (ICVL).<br />
The sale, to International Coal Ventures Private Limited (ICVL), includes the Benga coal mine and other projects in Tete province
Though Rio Tinto may have completed all the formalities with respect to the reconnaissance and prospecting stages, it still needs to win the trust of environmentalists in the region who claim the project could threaten a tiger corridor about 100 km away.
The bans, put in place as the government tried to clamp down on illegal mining, have cut the iron ore exports by around 85 percent, or 100 million tonnes, over the past two years. They have also reduced foreign exchange earnings by more than $17 billion in the same period.
Future move of outgoing CEO Mehta is not known yet. He had joined Vedanta group in 2000 as senior Vice President in erstwhile Sterlite Industries and rose to serve the group in different capacities, including as CEO to various group companies -- Sesa Sterlite, Sterlite Industries and Hindustan Zinc.
Steps taken by central and state authorities to clean up the mining and export of iron ore have shut down output in two key producing states, slashing shipments and forcing steel mills to import a raw material the country has in abundance.