Vedanta buys Goan mining business

London-based metals and mining business Vedanta Resources Plc, through its subsidiary Sesa Goa, has acquired the Goan mining assets of Dempo Group for $368 million (£225 million).

Dempo Group’s mining assets include processing plants, barges, jetties, transhippers and loading capacities at the region’s main port, Mormugoa. In the year ending March 2009, the company produced 3.9 million tons of iron ore in Goa.

Anil Agarwal, chairman of Vedanta, commented: “The integration of Sesa and Dempo Group’s Goa-based operations will achieve great synergies.”

Vedanta reported revenues of $6.6 billion in the year ending March 2009, with operating profits of $1.1 billion.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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