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Vedanta's Sesa Sterlite Gets Permission To Resume Mining In Karnataka, India

12/28/2013 6:43 AM ET

India-focused miner Vedanta Resources Plc's (VED.L) subsidiary Sesa Sterlite Ltd., Saturday announced that it has received permission from the Honorable Supreme Court appointed Monitoring Committee to resume mining activities at its Karnataka mine, India.

Sesa Sterlite, formerly Sesa Goa Ltd., said it has commenced its mining operations, in accordance with stipulated conditions. Sesa Sterlite is a subsidiary of Vedanta Resources, a London listed company.

The Honorable Supreme Court of India had earlier given clearance for resumption of mining operations for A and B category mines in Karnataka, vide its order dated April 18, 2013.

It was in April this year that Vedanta Resources' subsidiaries, Sesa Goa Ltd., and Sterlite Industries, India, Ltd., announced that the High Court of Bombay at Goa has approved the Scheme of Amalgamation and Arrangement amongst Sterlite, Madras Aluminium Company Ltd., Sterlite Energy Ltd., Vedanta Aluminium Ltd., and Sesa Goa Ltd., and their respective shareholders and creditors, to create Sesa Sterlite.

VED.L closed Friday's regular trading at 901.5 pence, up 2.68 percent.

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by RTT Staff Writer

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