India Iron Ore Ban Hits Vedanta Production

Reuters reported Vedanta (LSE:VED) posted a drop in full-year iron ore output on Tuesday, hit by a ban on mining in the southern Indian state of Karnataka and logistical problems in Goa.

As quoted in the market news:

Iron ore, a steelmaking ingredient, is typically one of Vedanta’s most profitable products along with zinc, accounting for almost a third of profits, but output has been constrained in recent quarters by curbs to combat illegal mining.

Click here to read the full Reuters report.