Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

Vedanta Resources (VED)

  Print      Mail a friend       Annual reports

Wednesday 14 April, 2004

Vedanta Resources

Analyst Site Visit

Vedanta Resources PLC
14 April 2004

14 April 2004

                              Vedanta Resources plc
                               Analyst Site Visit
Vedanta Resources plc ('Vedanta'), the London-listed metals and mining group,
announces that it is holding a site visit this week for analysts in India, which
will cover three of its sites: the aluminium complex at Korba, and the zinc and
lead facilities at Chanderiya and Rampura Agucha.

   •The aluminium division within Vedanta has a total annual capacity of
    135,000 tonnes of aluminium. The complex at Korba in the State of
    Chattisgarh, Central India, consists of an alumina refinery, an aluminium
    smelter, a power plant and a fabrication facility. The smelter is currently
    expanding capacity to 350,000 tpa. Work is also taking place on the bauxite
    mine and alumina refinery at Orissa which will have an ultimate capacity of
    1.4 mtpa of alumina.

   •The zinc business has a current capacity of 207,000 tonnes of zinc and
    34,000 tonnes of lead. The HZL lead-zinc smelter, located at Chanderiya, 120
    km east of Udaipur in the State of Rajasthan, is building a 170,000 tpa
    hydrometallurgical zinc smelter, together with a captive power plant of 154
    mega watts. At the same site we are also expanding the lead capacity by
    50,000 tpa.

   •The lead-zinc mine at Rampura Agucha, 225 km north of Udaipur, is one of
    the lowest cost in the world. It has an installed capacity of 2.0 mtpa of
    ore. HZL intends to increase the capacity of the mine and processing plant
    to 3.3 mtpa.

The visit will involve tours of these sites as well as presentations from senior
management on key areas of the business. It will provide analysts with an
opportunity to gain a better understanding of Vedanta's assets, strategy and
prospects. The business will further benefit in the current year from the
commissioning of the copper smelter and refinery at Tuticorin, which is
scheduled for the end of the first quarter of the financial year.

No new information on current trading will be disclosed during the visit.
Vedanta will announce its results for the year ended 31 March 2004, in June 2004
and confirms that these should be in line with expectations.

Vedanta also announces that it has increased its stake in its subsidiary
Sterlite Industries (India) Limited ('Sterlite') by 2.4% through the purchase
for cash of an additional 1.7 million shares from the Sterlite Employee Welfare
Trust at an average price of INR 550 per share. The total cost of the purchase
is US$21.4 million and it takes Vedanta's effective interest in Sterlite to
68.1%. This purchase does not have a material impact on the cash position of
Vedanta under UK GAAP and continues to advance Vedanta's stated strategy of
increasing its direct ownership in its underlying businesses.

Peter Sydney-Smith, Vedanta Finance Director, commented:

'We are delighted to be hosting this trip and showing the progress made since
listing in London last year. We continue with our strategy of simplifying the
ownership structure of our underlying businesses and maximising the value
inherent in the existing corporate structure.'

                                    - Ends -

For further information, please contact:

Peter Sydney-Smith
Finance Director
Vedanta Resources plc                  Tel:  +44 20 7629 6070

James Murgatroyd
Faeth Birch
Robin Walker
Finsbury                               Tel:  +44 20 7251 3801

Notes to Editors:

Vedanta is a diversified metals and mining group with zinc, copper and aluminium
operations in India and two copper mines in Tasmania and Queensland in

Vedanta holds its interests in these operations through two subsidiaries,
Sterlite and the Madras Aluminium Company ('Malco'). Sterlite is Vedanta's
principal subsidiary company and is currently listed on the Bombay Stock
Exchange. Vedanta's copper operations are owned and operated by Sterlite and it
also holds majority stakes in the group's zinc business, Hindustan Zinc Ltd
('HZL'), and the Bharat Aluminium Company ('Balco'), the group's principal
aluminium business.

When Vedanta listed in London in December 2003, one of its principal stated
strategies was to consolidate its group structure by increasing its direct
ownership in the Group's underlying businesses. A number of initiatives have
been pursued to implement this strategy.

These initiatives have included:

• The acquisition in November 2003 of a further 18.9 per cent. of the
  issued share capital of HZL from the Government of India for a total
  consideration of INR3,238 million (US$71.6 million). Sterlite now has a direct
  holding of 64.9 per cent. in HZL.

• The acquisition on 6 January 2004 of 4.98 per cent. of the issued share
  capital of Sterlite from the Sterlite Employee Welfare Trust by Twin Star for 
  a consideration of INR739 per share (after adjusting for the one to one bonus 
  share issue made by Sterlite at the end of January 2004). The total
  consideration for this acquisition was INR2,644 million (US$58 million).

• The most recent acquisition of 2.4 per cent of the issued share capital of 
  Sterlite from the SEWT by Twin Star for a consideration of INR550 per share. 
  The total consideration for this acquisition was INR936 million (US$21.4

In addition, Sterlite has announced plans for a rights issue and Twin Star has
undertaken to take up its entire pro-rata entitlement. To the extent that other
shareholders do not take up their rights, Twin Star may take up those unclaimed
entitlements, thereby further increasing the Group's interest in Sterlite.

At the time of its listing Vedanta had a direct holding in Sterlite of 55.1 per
cent and, as a result of Vedanta's 80 per cent. holding in Malco, which in turn
holds 7.1 per cent of Sterlite, had an effective interest in Sterlite of 60.8
per cent. The above acquisitions have resulted in an increase in Vedanta's
direct holding in Sterlite to 62.4 per cent and, accordingly, an increase in
its effective interest to 68.1 per cent. Sterlite also owns 65% of HZL, 51% of
Balco and 100% of the Australian mines.

                      This information is provided by RNS
            The company news service from the London Stock Exchange