Vedanta subsidiary welcomes resumption of mining operations

Sesa Goa, the subsidiary, of mining group Vedanta, announced Friday that the Indian Supreme court has cleared the resumption of mining operations at the Karnataka mine, provided it receives statutory clearances.

This follow the temporary ban on the mine's operations, which restricted iron ore extraction in Goa and transportation restrictions in South Goa during the monsoons.

The court ruled that mining operations which fell under the A and B category mines could be cleared for mining following statutory clearance.

Vednata said: "Sesa Goa's Karnataka mine falls under B category, and we are in the process of securing the necessary statutory clearances to resume mining shortly.

"We welcome this order, and are working towards resuming our mining operations in Karnataka."

Shares in Vedanta leapt 5.25% to 1,142p by 11:25 Friday.

NR