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Business Week reported that Vedanta Resources Plc (LSE:VED) announced that fiscal second-quarter output at the Tuticorin smelter advanced 28 percent.
Business Week reported that Vedanta Resources Plc (LSE:VED) announced that fiscal second-quarter output at the Tuticorin smelter advanced 28 percent.
As quoted in the market news:
Tuticorin’s copper-cathode output jumped to 87,000 metric tons in the quarter ended Sept. 30 from 68,000 tons a year earlier, London-based Vedanta said today in a statement. Mined zinc metal production rose 2 percent to 210,000 tons, while aluminum output dropped 8 percent to 149,000 tons.
Vedanta, seeking to expand into the oil and gas industry, is in the final stages of purchasing a majority stake in Cairn India Ltd., which will give it access to India’s biggest onshore oil deposit. Cairn India shareholders and Oil & Natural Gas Corp., its oilfield partner, have approved Vedanta’s acquisition, the company said.
