Vedanta Resources was founded in Bombay in 1976 by Anil Agarwal, who is also its Executive Chairman. Agarwal founded Sterlite Industries in 1976 and then in 1986 established Vedanta Resources bringing together a variety of businesses owned by the Agarwal family. It was first listed on the London Stock Exchange in 2003 when it raised $876 million through an Initial Public Offering.In December 2011 it announced the US$8.67 billion acquisition of Cairn India, a subsidiary of Cairn Energy.
Vedanta Resources, one of the world’s largest diversified mining and energy group, said that the power supply at its copper mines in Zambia would be cut up to 30 percent. Vedanta was in talks with Copperbelt Energy Corporation, a Zambian electricity generation, transmission, distribution and Supply Company, and the Zambian government over the timings and consequences of the power cuts.... Read More
Former Rio Tinto chief executive Tom Albanese says his new business, Indian mining giant Vedanta Resources, is gunning to re-start iron ore production as soon as October, after India last week cut its duties on lower-grade exports of the commodity.