Sterlite Ban

A troubled 2018 so far for billionaire Anil Agarwal's Vedanta Ltd. may get worse amid concern that its key copper smelter in southern India could remain shut until 2019, further pressuring a stock that's down 25 percent since the start of the year.

Around 15,000 people gathered for a protest meeting on Saturday night demanding the closure of a copper smelting plant in the Tuticorin district of Tamil Nadu. Alleging pollution of air, water and soil, the protesters say the plant should not be allowed to expand its operations.

The firm led by mining baron Anil Agarwal was permitted to mine 5.5 million tonnes of iron ore in 2015-16 fiscal from Goa, with the total cap by Supreme Court being 20 MT for the entire state. Mining operations started in 2015 in Goa after the apex court had banned it in 2012.

With the withdrawal of the suspension order, the Goa government said the mining industry will resume operations immediately.

Following a court imposed ban of more than two years in Karnataka, Sesa restarted mining in the state in December last year, before being asked to stop again in August.

The layoff notices were given following the closure of iron ore business of Sesa Sterlite due to a Supreme Court imposed ban on mining in the state.

The Supreme Court order is significant for Sesa Sterlite, the main subsidiary of mining conglomerate Vedanta.

The Supreme Court is expected to rule on lifting an 18-month old mining ban in Goa soon, after which operations may resume in September, following the monsoon, a Sesa Sterlite official said on Friday.

It will however continue to pay 50 per cent salary to the staff who will be "laid off", as the employees will remain on the pay rolls, according to an official at the company.

Bans on iron ore mining and exports in top producing states of Karnataka and Goa have choked the industry so hard that MMTC is one of many firms exiting. Even if efforts to fully lift the bans make it past the many bureaucratic and legal hurdles, iron ore miners do not expect complete resumption of production until late 2014.

Vedanta, controlled by metals tycoon Anil Agarwal, has been hurt by the ban on iron ore mining in Karnataka and Goa over the last few quarters.

Vedanta has been hurt by the ban on iron ore mining in Karnataka and the western Indian state of Goa over the last few quarters. The company received clearance from India's top court in September to resume mining in Karnataka, but is still awaiting a decision to permit mining in Goa.

The Supreme Court has said that it's up to the local village body or gram sabha that governs the Niyamgiri Hills in Odisha to decide the Niyamgiri Hills are a religious abode of the local tribals. Once this decision is taken, the Ministry of Environment and Forests will decide on the clearance for mining. The gram sabha has three months to decide a...

The Supreme Court has continued a ban on bauxite mining in the Niyamgiri Hills in Odisha considered sacred by tribals.

Sesa Goa shares tanked in early trade Tuesday after the Goa government ordered shutdown of all 90 iron ore mines in the state following the Shah Commission report. The report, which was tabled in Parliament last week, exposed a scam to the tune of Rs. 35,000 crore in Goa's iron ore mines.

A troubled 2018 so far for billionaire Anil Agarwal's Vedanta Ltd. may get worse amid concern that its key copper smelter in southern India could remain shut until 2019, further pressuring a stock that's down 25 percent since the start of the year.

Around 15,000 people gathered for a protest meeting on Saturday night demanding the closure of a copper smelting plant in the Tuticorin district of Tamil Nadu. Alleging pollution of air, water and soil, the protesters say the plant should not be allowed to expand its operations.

The firm led by mining baron Anil Agarwal was permitted to mine 5.5 million tonnes of iron ore in 2015-16 fiscal from Goa, with the total cap by Supreme Court being 20 MT for the entire state. Mining operations started in 2015 in Goa after the apex court had banned it in 2012.

With the withdrawal of the suspension order, the Goa government said the mining industry will resume operations immediately.

Following a court imposed ban of more than two years in Karnataka, Sesa restarted mining in the state in December last year, before being asked to stop again in August.

The layoff notices were given following the closure of iron ore business of Sesa Sterlite due to a Supreme Court imposed ban on mining in the state.

The Supreme Court order is significant for Sesa Sterlite, the main subsidiary of mining conglomerate Vedanta.

The Supreme Court is expected to rule on lifting an 18-month old mining ban in Goa soon, after which operations may resume in September, following the monsoon, a Sesa Sterlite official said on Friday.

It will however continue to pay 50 per cent salary to the staff who will be "laid off", as the employees will remain on the pay rolls, according to an official at the company.

Bans on iron ore mining and exports in top producing states of Karnataka and Goa have choked the industry so hard that MMTC is one of many firms exiting. Even if efforts to fully lift the bans make it past the many bureaucratic and legal hurdles, iron ore miners do not expect complete resumption of production until late 2014.

Vedanta, controlled by metals tycoon Anil Agarwal, has been hurt by the ban on iron ore mining in Karnataka and Goa over the last few quarters.

Vedanta has been hurt by the ban on iron ore mining in Karnataka and the western Indian state of Goa over the last few quarters. The company received clearance from India's top court in September to resume mining in Karnataka, but is still awaiting a decision to permit mining in Goa.

The Supreme Court has said that it's up to the local village body or gram sabha that governs the Niyamgiri Hills in Odisha to decide the Niyamgiri Hills are a religious abode of the local tribals. Once this decision is taken, the Ministry of Environment and Forests will decide on the clearance for mining. The gram sabha has three months to decide a...

The Supreme Court has continued a ban on bauxite mining in the Niyamgiri Hills in Odisha considered sacred by tribals.

Sesa Goa shares tanked in early trade Tuesday after the Goa government ordered shutdown of all 90 iron ore mines in the state following the Shah Commission report. The report, which was tabled in Parliament last week, exposed a scam to the tune of Rs. 35,000 crore in Goa's iron ore mines.