Sesa Sterlite Limited, formerly Sesa Goa, has received permission from the Honourable Supreme Court appointed Monitoring Committee to resume mining at its Karnataka iron ore mine. Accordingly, the company commenced mining operations in late December in accordance with stipulated conditions.
The Honourable Supreme Court of India had earlier given the clearance for resumption of mining operations for A and B category mines in Karnataka state, vide its order dated April 18, 2013.
Sesa Sterlite is a subsidiary of Vedanta Resources Plc, a London listed company. Sesa Sterlite is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
Sesa Sterlite is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.
It produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Sesa Sterlite has a strong position in emerging markets with more than 80% of its revenues from India, China, East Asia, Africa and the Middle East.
Sustainability is at the core of Sesa Sterlite’s strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities.
In April 2013 the Vedanta subsidiaries, Sesa Goa Ltd, and Sterlite Industries, India, Ltd, announced that the High Court of Bombay at Goa had approved the Scheme of Amalgamation and Arrangement amongst Sterlite, Madras Aluminium Company, Sterlite Energy, Vedanta Aluminium, and Sesa Goa, and their respective shareholders and creditors, to create Sesa Sterlite.