Vedanta Resources Plc, a London-based mining conglomerate that has most of its assets in India, said it has resumed mining iron ore in Karnataka on Monday following clearance from a court-appointed panel.
London-listed Vedanta's shares rose as much as 2.8 per cent after the miner said its Sesa Sterlite unit had been given the go-ahead by a committee appointed by Supreme Court to restart operations at its mines in Karnataka, under certain conditions.
Vedanta, controlled by metals tycoon Anil Agarwal, has been hurt by the
ban on iron ore mining in Karnataka and Goa over the last few quarters.
Iron ore production in Karnataka is
expected to rise to 22.18 million tonnes in the year ending March 2015, according to a state government petition with the country's top court seeking to relax an annual mining cap of 30 million tonnes.
Sesa Sterlite, formerly called Sesa Goa, is India's top private-sector mining company.
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