Vedanta Digs Up Record Metal Production

RECORD iron-ore and aluminium production helped miner Vedanta Resources to take advantage of booming steel demand as the global economy recovered.

The group said total iron-ore production in the quarter jumped 59 per cent to 7.8 million tons against the same period a year ago, helped by new plants and increased volumes from existing sites. The company’s main operations are in India, Zambia and Australia. Major metals it produces include aluminium, copper, zinc, lead and iron ore.

Vedanta said its plan to expand iron-ore capacity to 50 million tons per year by 2013 was progressing well and that aluminium production rose 19 per cent to 159,000 tons as contributions from a new smelter more than offset a shutdown at another facility. Fourth-quarter zinc mining production slipped 2 per cent to 194,000 tons. Vedanta’s iron-ore business is owned and run by Sesa Goa, India’s largest producer-exporter by volume of iron ore in the private sector in the 2007 tax year.

In April 2007 the group bought a 51 per cent stake in Sesa Goa, which mines and processes iron ore.

At the end of March 2009 Sesa Goa had reserves and resources of 310 million tons and also makes pig iron and metallurgical coke.

Source: http://www.dailyexpress.co.uk