Vedanta confirms merger of Indian subsidiaries

Following weeks of speculation, Vedanta Resources has confirmed that it will be merging its Indian iron ore and copper divisions, Sesa Goa and Sterlite, respectively, to create a new multi-metal mining giant - Sesa Sterlite.

Following weeks of speculation, Vedanta Resources has confirmed that it will be merging its Indian iron ore and copper divisions, Sesa Goa and Sterlite, respectively, to create a new multi-metal mining giant - Sesa Sterlite.

The combination is expected to create India's natural resources "champion" and is anticipated to be the world's seventh-largest global diversified natural resources major on an EBITDA (earnings before interest, tax , depreciation and amortisation) basis.

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