GOA, India, April 22, 2014 /PRNewswire/ --
The Honorable Supreme Court vide its order dated 21st April, 2014 has lifted the ban on mining in
the State of Goa, subject to
certain conditions. The Honorable Supreme Court has imposed an
interim restriction on the maximum annual excavation from the
mining leases in the State of Goa
of 20 million tonnes subject to determination of final capacity by
Expert Committee appointed by the Supreme Court.
(Logo:
http://photos.prnewswire.com/prnh/20140117/663814 )
Further, in its order, the Supreme Court has held that all
mining leases in the State of Goa,
including those of Sesa Sterlite, have expired in 2007.
Consequently, no mining operations can be carried out until
renewal/execution of mining lease deeds by the State government.
The Company is working towards securing the necessary
permissions for commencement of operations at the earliest.
About Sesa Sterlite Limited
Sesa Sterlite Limited ("Sesa Sterlite") is one of the world's
largest diversified natural resources companies. Our business
primarily involves exploring, extracting and processing minerals
and oil & gas. We produce oil & gas, zinc, lead, silver,
copper, iron ore, aluminium and commercial power and have a
presence across India,
South Africa, Namibia, Ireland, Australia, Liberia and Sri
Lanka. Sesa Sterlite has a strong position in emerging
markets with over 80% of its revenues from India, China,
East Asia, Africa and the Middle East.
Sustainability is at the core of Sesa Sterlite's strategy, with
a strong focus on health, safety and environment and on enhancing
the lives of local communities.
Sesa Sterlite is a subsidiary of Vedanta Resources plc, a
London-listed company. Sesa
Sterlite is listed on the Bombay Stock Exchange and the National
Stock Exchange in India and has
ADRs listed on the New York Stock Exchange.
Sesa Sterlite Limited
(Formerly known as Sesa Goa Limited)
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400
099
http://www.sesasterlite.com
Registered Office:
Sesa Ghor, 20 EDC Complex,
Patto, Panaji (Goa) - 403 001
CIN: L13209GA1965PLC000044
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.
For further information, please contact:
Communications
Roma Balwani
Executive Vice President - Group Communications & CSR
Tel: +91-22-6646-1330
gc@vedanta.co.in
Investors
Ashwin Bajaj
Senior Vice President - Investor Relations
Tel: +91-22-6646-1531
Sesasterlite.ir@vedanta.co.in
Sheetal Khanduja
Associate General Manager - Investor Relations
Hitesh Dhaddha
Manager - Investor Relations