11th Sep 2012 09:20
11 September 2012
Vedanta Resources plc
Sesa Goa -Temporary Suspension of Mining Operation in Goa
The following release was issued by Vedanta Resources Plc's subsidiary Sesa Goa Limited today.------------------------------------------------------------------------------------------------------------------------
Sesa Goa Limited
Temporary Suspension of Mining Operation in the State of Goa
Goa, 11 September 2012: The Director of Mines, Government of Goa, on 10 September 2012, issued orders for temporary suspension of mining operations of all the mining leases in State of Goa, with effect from 11 September 2012, until further orders. Consequently, Sesa Goa Limited ("Sesa") has stopped ore extraction from all its mines in the State of Goa.
The order also states that the above suspension of mining operations shall not affect trade and transportation of ore already mined and existing in the leasehold area, in transit /stored / stacked on the jetties, subject to inspection by the relevant authorities.
Sesa will submit all relevant documents to the government authorities for scrutiny at the earliest in order to ensure early restart of Sesa's operations.
About Sesa
Sesa is India's largest producer and exporter of iron ore in the private sector. The company is a majority owned and controlled subsidiary of Vedanta Resources plc, the London listed FTSE 100 diversified metals and mining major. For more than five decades, Sesa has been involved in iron ore exploration, mining, beneficiation and exports. Sesa has iron ore mining operations in Goa and Karnataka. Sesa is developing the Western Cluster Iron Ore Deposits into a large integrated Iron Ore Project in Liberia. Sesa is also into manufacturing pig iron and metallurgical coke, with a 0.56 mtpa metallurgical coke plant and a 0.625 mtpa pig iron plant in Goa.
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events and may be interpreted as 'forward looking statements' within the meaning of applicable laws and regulations. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the company's operations include a downtrend in the steel, pig iron & met coke industry - global or domestic or both, significant changes in political, economic, business, competitive or regulatory environment in India or key markets abroad and from numerous other matters of national, regional & global scale including but not limited to natural calamity, tax laws, litigations, Government policies & regulations, fluctuations in interest and or exchange rates of Indian Rupee, etc. Any forward-looking information in this press release has been prepared on the basis of a number of assumptions, which may prove to be incorrect. This press release should not be relied upon as a recommendation or forecast by Sesa Goa Ltd. The views expressed herein may contain information derived from publicly available sources that have not been independently verified; no representation or warranty is made as to the accuracy, completeness or reliability of this information. We do not undertake to update our forward-looking statements.
For further information, please contact:
Investors Ashwin Bajaj Senior Vice President - Investor Relations Vedanta Resources plc
| Tel: +91 22 6646 1531
|
Media Gordon Simpson Finsbury | Tel: +44 20 7251 3801 |
About Vedanta Resources plc
Vedanta Resources plc ("Vedanta") is a London listed FTSE 100 diversified global natural resources major. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information, please visit www.vedantaresources.com.
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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