The mining industry as a whole has been frustrated by a lack of available high-quality copper assets at time demand for the metal is predicted to rise and Vedanta is wrestling with the need to remove large amounts of water, amongst other issues.
Symbol: COPPER| Contract: Aug, 2017| Category: Metal
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The State government had permitted auctioning of five large-scale mining blocks in 2016-17.
Vedanta's Konkola Copper Mines Plc (KCM) based in Zambia has been ordered to pay approximately $103 million to Zambia Consolidated Copper Mines Investments Holdings
Despite the hurdles, Vedanta posted a record aluminium production of 2.96 lakhtonnes during the September quarter and saw its power salesrise y-o-y helped by commissioning ofadditional units at TSPL and Balco over the last year.
Hindustan Copper shares fell as much as 5.26 per cent to hit intraday low of Rs 62.10 after the government started to sell its 7 per cent stake in the company.
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