Vedanta Limited: Closure of Mining Leases in the State of Goa

MUMBAI, India, Feb. 8, 2018 /PRNewswire/ --Hon'ble Supreme Court of India vide judgement dated February 07, 2018 have directed to stop all mining operations in the state of Goa with effect from March 16, 2018.

Hon'ble Supreme Court has directed that the mining lease holders who have been granted the second renewal are given time to manage their affairs and may continue their mining operations till March 15, 2018. However, they are directed to stop all mining operations with effect from March 16, 2018 until fresh mining leases and fresh environmental clearances are granted.

The Company's mines in the state of Goa will be impacted consequent to the judgement of Hon'ble Supreme Court. The Company is assessing the financial and operational impact of the said judgement.

About Vedanta Limited

Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, aluminium, copper, iron ore and commercial power. The company has a presence across India, South Africa and Namibia. Vedanta Ltd has a portfolio of world-class, low-cost, scalable assets that consistently generate strong profitability and have robust cash flows. The company holds industry-leading market shares across its core divisions.

Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India. To access the Vedanta Sustainable Development Report 2017, please visit http://sd.vedantaresources.com/SustainableDevelopment2016-17/

Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India. The company is in the Nifty 50 Index and has ADRs listed on the New York Stock Exchange.

For more information please visit www.vedantalimited.com

Vedanta Limited
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
www.vedantalimited.com

Registered Office:
Regd. Office: 1st Floor, 'C' wing, Unit 103,
Corporate Avenue, Atul Projects,
Chakala, Andheri (East),
Mumbai – 400 093

CIN: L13209MH1965PLC291394

For further information, please contact:

Communications
Arun Arora
Head Communications
Tel: +91-1244593000
gc@vedanta.co.in

Investor Relations
Rashmi Mohanty
Director – Investor Relations
Tel: +91-22-6646-     1531
vedantaltd.ir@vedanta.co.in

Aarti Raghavan
VP – Investor Relations

Sneha Tulsyan
Associate Manager – Investor Relations
Disclaimer

This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

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SOURCE Vedanta Limited