17th Nov 2005 07:03
Vedanta Resources PLC17 November 2005 November 17, 2005 Vedanta Resources announces new growth project in Zambia The board of Vedanta Resources plc ("Vedanta") has approved a new capitalproject for the expansion of the Nkana smelter in Konkola Copper Mines ("KCM"),at a total cost of $125 million. The expansion will increase the smeltercapacity to 300,000 tpa and will be adequate not only to treat the expandedoutput from Konkola after completion of the Konkola Deep expansion but also tolltreat concentrates from other mines in Zambia. The project is expected to be completed by mid 2008 and will be financedsubstantially from internal cash generations of KCM, supplemented with debt asrequired. The technology proposed for the smelter will be sourced from OutokompoFinland and is suitable to treat the concentrate from the Nchanga and Konkolamines of KCM. For further information, please contact: Sumanth Cidambi Associate Director - Investor Relations [email protected] Resources plc Tel: +91 22 5646 1444 Faeth Birch Robin WalkerFinsbury Group 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," or "will." Forward-looking statements by their nature address mattersthat are, to different degrees, uncertain. For Vedanta, particular uncertaintiesarise from the behaviour of financial and metals markets including the LondonMetal Exchange, fluctuations in interest and or exchange rates and metal prices;from future integration of acquired businesses; and from numerous other mattersof national, regional and global scale, including those of a political,economic, business, competitive or regulatory nature. These uncertainties maycause our actual future results to be materially different that those expressedin our forward-looking statements. Vedanta Resources plc does not undertake toupdate its forward-looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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