IIFL
Vedanta mining and refinery clearance
Edited by : AL CIRCLE
1 min read
MoEF(India's Ministry of External Affairs) has rejected the forest clearance for Niyamgiri Mining lease of Orissa Mining Corporation (OMC) which is one of the sources of supply of Bauxite to the alumina refinery of Vedanta Aluminium (VAL), an associate of the Company.
OMC has filed a petition in the Hon'ble Supreme Court and the hearing is fixed for January 2012.
MOEF has also denied VAL's application for expansion of alumina refinery, which was challenged by VAL before the Hon'ble Orissa High Court. The Hon'ble Orissa High Court has upheld the order of the MoEF. VAL has filed a review petition in the Hon'ble Orissa High Court for review of the judgment. The management of the Company has evaluated and considered good, its loans granted and investment made in VAL.
OMC has filed a petition in the Hon'ble Supreme Court and the hearing is fixed for January 2012.
MOEF has also denied VAL's application for expansion of alumina refinery, which was challenged by VAL before the Hon'ble Orissa High Court. The Hon'ble Orissa High Court has upheld the order of the MoEF. VAL has filed a review petition in the Hon'ble Orissa High Court for review of the judgment. The management of the Company has evaluated and considered good, its loans granted and investment made in VAL.
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