22nd May 2006 11:43
Vedanta Resources PLC22 May 2006 22 May 2006 Vedanta Resources plc Temporary Setback to Full Commissioning of Korba Smelter Vedanta Resources plc announces that the full commissioning of its new 250,000tpa aluminium smelter ("Korba II") has been affected due to recent extremeweather conditions in Korba last week. As a result of stormy weather, the captive power plants tripped, resulting in ablackout and less than optimal supply of electricity to the Korba II potlinefrom standby sources. We are currently stabilising the potline under thesecomplex conditions and some pots have been taken out from the existingproduction line. The remaining pots in production currently yield an output of350 tons per day as compared to an average of 450 tons per day in the month ofMarch 2006. We are making efforts to stabilise the pots taken out from the potline and ourcurrent assessment is that this may be progressively completed towards the endof the second quarter of FY 2007. The surplus power that is generated by ourcaptive power plants due to this situation will be exported to the State griduntil fully used for internal requirements. For further information, please contact:Sumanth Cidambi [email protected] Director - Investor Relations Tel: +44 20 7659 4732 / +91 22 6646 1531Vedanta Resources plc Faeth BirchRobin WalkerFinsbury Tel: +44 20 7251 3801 About Vedanta Resources plc Vedanta Resources plc is a London listed diversified metals and mining group.Its principal operations are located throughout India, with further operationsin Zambia and Australia. The major metals produced are aluminium, copper, zincand lead. For further information, please visit www.vedantaresources.com. Disclaimer This press release contains "forward-looking statements" - that is, statementsrelated to future, not past, events. In this context, forward-looking statementsoften address our expected future business and financial performance, and oftencontain words such as "expects," "anticipates," "intends," "plans," "believes,""seeks," "should" or "will." Forward-looking statements by their nature addressmatters that are, to different degrees, uncertain. For us, uncertainties arisefrom the behaviour of financial and metals markets including the London MetalExchange, fluctuations in interest and or exchange rates and metal prices; fromfuture integration of acquired businesses; and from numerous other matters ofnational, regional and global scale, including those of a political, economic,business, competitive or regulatory nature. These uncertainties may cause ouractual future results to be materially different that those expressed in ourforward-looking statements. We do not undertake to update our forward-lookingstatements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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