Information  X 
Enter a valid email address

Vedanta Resources (VED)

  Print      Mail a friend       Annual reports

Thursday 14 February, 2008

Vedanta Resources

Update on KCM option

Vedanta Resources PLC
13 February 2008

                             Vedanta Resources PLC
                           Update on KCM Call Option

Further to our announcement on 18 January 2008, the Board of Vedanta Resources
plc has decided to complete the exercise of its option to purchase the 28.4 per
cent stake in Konkola Copper Mines plc ('KCM') held by ZCI Holdings S.A.
('ZCI'). Vedanta has today notified ZCI of its decision to acquire the option
shares at the option exercise price, as determined by the independent valuer, of
$213.15 million. The Zambian Competition Commission has given its interim
authorisation for the transaction to proceed. Completion of this transaction is
expected to occur shortly.

For further information:
Sumanth Cidambi
Associate Director - Investor Relations Tel: +44 20 7659 4732 / +91 22 6646 1531
Vedanta Resources plc

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

About Vedanta Resources plc
Vedanta Resources plc is a London listed FTSE 100 diversified metals and mining
group. Its principal operations are located throughout India, with further
operations in Zambia and Australia. The major metals produced are aluminium,
copper, zinc, lead and iron ore. For further information, please visit

This press release contains 'forward-looking statements' - that is, statements
related to future, not past, events. In this context, forward-looking statements
often address our expected future business and financial performance, and often
contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,'
'seeks,' 'should' or 'will.' Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. For us, uncertainties arise
from the behaviour of financial and metals markets including the London Metal
Exchange, fluctuations in interest and or exchange rates and metal prices; from
future integration of acquired businesses; and from numerous other matters of
national, regional and global scale, including those of a political, economic,
business, competitive or regulatory nature. These uncertainties may cause our
actual future results to be materially different that those expressed in our
forward-looking statements. We do not undertake to update our forward-looking

                                    - ENDS -

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