Vedanta decides to sell troubled copper smelterReuters, NEW DELHIIndia’s oil-to-metals conglomerate Vedanta Ltd yesterday offered to sell a copper smelter complex in southern Tamil Nadu state that was closed four years ago after police opened fire during protests, which culminated in 13 deaths. Local officials seal the entrance to a copper smelter controlled by London-listed Vedanta Ltd in Thoothukudi, India, on May 18, 2018. The company, controlled by billionaire Anil Agarwal, said in March last year that it was looking for a state government partner to set up a new, 100 billion rupees (US$1.28 billion) copper smelter. The proposed 500,000 tonnes per annum copper smelter could employ as many as 10,000 people, Vedanta said, adding that it was looking for a 405 hectares site close to a port. Shares of Vedanta fell as much as 10 percent in early trading yesterday to 237.6 rupees, the lowest in more than a year.

Source: Taipei Times June 21, 2022 02:57 UTC