Refined zinc production rose to 215,000 tonnes in the quarter ended March 31, from 154,000 tonnes a year earlier, the company said in a statement.
Indian billionaire and Vedanta Chairman Anil Agarwal said this month he would buy a 2 billion pound ($2.5 billion) stake in Anglo American, but said the purchase would be via his family trust Volcan Holdings rather than Vedanta.
Just over a year after the December 2015 Paris agreement on lowering global carbon emissions, mining bosses meeting in Cape Town this week said coal could be central for decades to come.
The Anil Agrawal-promoted company said the proceeds from the bond sale will "proactively address the refinancing liabilities of the company over next two years."
S&P Global Ratings today raised its foreign currency long-term corporate credit rating on Vedanta Resources to 'B+' from 'B'with a stable outlook.
Indian mining giant Vedanta Resources has been directed by London High Court to pay USD 100 million to a state-owned Zambian investment company related to a 2013 copper price agreement.
Indian mining giant Vedanta Resources has been ordered by London High Court to pay over USD 100 million to a Zambian investment company related to a 2013 copper price agreement, the state-owned firm claimed today.
The company plans to expand the capacity of its Lanjigarh alumina refinery to 5 million tonnes from the current 2 million tonnes and double the capacity of its Jharsuguda aluminium smelter to 2 million tonnes.
India's 10-year government benchmark has fallen to 6.19 percent, below the central bank's repo rate of 6.25 percent, on expectations of a 25 bps-50 bps rate cut at the December 6-7 monetary policy committee meeting. The two have converged only three times in the last decade, according to banking analysts.
Shares of Hindustan Zinc gained roughly 9 percent in trade today. Surge in zinc prices to 5-year highs coupled with commentary from Vedanta Resources Chief Anil Agarwal that the Group will be open to buy stakes in Hindustan Zinc and Balco if government decides to sell could have aided gains.
The government using retrospective tax legislation had in January 2014 issued a tax notice on Cairn Energy for alleged capital gains it made on a 10-year old internal reorganisation of its India unit.
Commerce Minister Nirmala Sitharaman will today open the two-day India Economic Summit here which will focus on issues like digital transformation and regional economic integration.
Mining giant Vedanta Resources has paid more than USD 2 billion (over Rs 13,300 crore) in taxes, royalties, licence fees and other payments to India in the last financial year ended March 2016.
S&P Global Ratings said it has revised its outlook on Vedanta Resources to positive from stable while Moody's Investors Service raised the London-listed firm's corporate family rating (CFR) to B1 from B2 with a stable rating outlook.
Shares of Cairn India too rose by 3 percent to Rs 209.20. However, later the scrip was down 0.12 percent to trade at Rs 202.80 in the afternoon session.
"The mines operation is shut at the moment and we hope to restart the copper mines by 2017 with financial support and tax reliefs. We have offered ASD 25 million financial package to sustain the operations to Vedanta for copper mines," Hodgman, who is leading a Tasmanian trade mission to the country, told PTI here.
Agarwal, who was here to meet Odisha Chief Minister Naveen Patnaik, said that "GST is the best thing in the world to happen here." Stating that many countries across the globe have uniform tax structure now, he said this should also be implemented in India for better trade and commerce.
Recent reports show that discoveries of new oil reserves have dropped to their lowest level for more than 60 years. The chief of one of the world's largest diversified natural resources companies implied that this could potentially cause supply shortages.
Vedanta is among the resource firms hit by a collapse in commodity prices and it is also facing legal action and activist protests over its operations in Zambia.
The billionaire Anil Agarwal-led group had clocked a EBITDA (earnings before interest, taxes, depreciation, and amortisation) of USD 644.6 million in the first quarter of last fiscal.
Operating profit is expected to slip 35 percent to Rs 1,076 crore due to lower volume on ongoing mine development. Margin may contract by 330 basis points at 42.4 percent on annual basis.
Metals and mining conglomerate Vedanta Resources today said it has repaid in full and redeemed the USD 514.8 million outstanding amount on its 5.5 per cent 2016 convertible bonds due on July 13, 2016.
LIC, which had expressed concerns over valuation and debt situation of the entity post-merger, owns 9.06 percent shares in Cairn India as of June quarter and 3.9 percent in Vedanta as of March.
Vedanta Resources will invest USD 500 million (nearly Rs 3,350 crore) in its zinc business, which is about half of its total capex for the current fiscal (2016-17)