Announcements

Vedanta Resources Plc production release for the second quarter and half year ended 30th September 2018

Highlights

Operations

Zinc India:

  • Mined metal production at 232kt, up 6% y-o-y; Underground production up 44% y-o-y
  • Refined lead metal production at 49kt, up 30% y-o-y
  • Record refined silver production at 5.5 mn ounces, up 23% y-o-y

Zinc International:

  • Trial production of concentrate at Gamsberg has commenced in end September
  • Total production for Q2 FY2019 was 28kt, lower by 34% y-o-y due to lower than planned zinc grades at Skorpion and planned prioritisation of mine development at BMM

Oil & Gas:

  • Average gross production of 186 kboepd for Q2 FY2019, up 3% y-o-y
  • 7 development drilling rigs in Rajasthan; 32 wells drilled till date

Iron ore:

  • Goa operations remain suspended due to statewide directive from the Supreme Court; continue to engage with the Government for resumption of mining operations
  • Production of saleable ore at Karantaka at 1.4 million tonnes, up 56% y-o-y
  • Production of Pig Iron at 173kt, up 26% y-o-y

Steel:

  • Steel production at 285kt for Q2 FY2019, up 16% y-o-y
  • Exited Q2 FY2019 at a monthly run rate of 1.3 mtpa

Copper India:

  • Review by the independent committee of the National Green Tribunal in progress

Copper Zambia:

  • Mined metal production at 25kt, up 4% y-o-y and up 9% q-o-q
  • Custom production at 25kt, down 20% y-o-y and up 21% q-o-q

Aluminium:

  • Record quarterly aluminium production at 494kt, up 23% y-o-y
  • Alumina production from Lanjigarh refinery at 348kt, up 30% y-o-y

Power:

  • 1,980 MW TSPL plant achieved availability of 94% in Q2 FY2019

Corporate

  • On 31st July 2018, Volcan Investments (“Volcan”) and Vedanta Resources announced that they had reached agreement on the terms of a recommended cash offer by Volcan for the remaining issued and to be issued share capital of Vedanta Resources not currently owned by Volcan (the "Offer")
  • The Offer was made on 3rd August 2018 and further to the announcement by Volcan on 3rd September 2018 that the Offer has become unconditional in all respects, the listing of Vedanta Shares on the Official List of the UK Listing Authority and the trading of Vedanta Shares on the main market for listed securities of the London Stock Exchange was cancelled with effect from 2nd October 2018

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