29th May 2018 08:37
LONDON (Alliance News) - Vedanta Resources PLC said Tuesday its Vedanta Ltd unit has now received a copy of an order from an Indian state to permanently close the Tuticorin copper smelter plant.
The order was issued by the government of Tamil Nadu directing the Tamil Nadu Pollution Control Board to seal Vedanta's Copper Smelter Plant 1 located in the Thoothukkudi district of the state and to close the plant permanently.
The India- and Zambia-focused miner said it will study the order and will keep investors updated on any developments.
The company on Thursday last week said Tamil Nadu Pollution Control Board disconnected the electricity supply to the smelter plant and ordered the closure of the plant due to pollution concerns. Vedanta, however, emphasised that the plant had not been operating since March 27.
Vedanta separately on Wednesday last week said that an Indian court ordered the company to cease construction of a second copper smelter plant at Tuticorin project. The Madurai Bench of Madras High Court ordered the ceasing of construction of the second copper smelter until the environmental clearance for plant is approved following a public hearing.
London-listed shares in Vedanta were trading 4.4% lower at 693.80 pence each Tuesday morning.
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