Vedanta

Sept 15 (Reuters) - Vedanta Ltd VDAN.NS:

• VEDANTA - TO CONSIDER PROPOSAL FOR ISSUANCE OF NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE7KfxX3

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By Neha Arora

NEW DELHI, Sept 1 (Reuters) - India has resumed talks with Zambia to explore investment opportunities in copper and other critical minerals, two sources said, as New Delhi looks increasingly overseas for raw materials to meet rising demand from its rapidly growing economy.

Officials from India's Ministry of Mines held preliminary discussions with Zambian officials on August 26, the two people familiar with the talks said, requesting anonymity because the discussions were confidential.

One of the sources said the two sides did not discuss a stalled project that had halted talks earlier.

Reuters reported in April that talks between India and Zambia had stalled over a lack of assurances from Lusaka on mining rights for an area of 9,000 square kilometres (3,475 square miles) awarded to India last year.

India's Ministry of Mines did not respond to a Reuters request for comment. A spokesperson for Zambia's Ministry of Mines said they could not confirm anything for now.

Khanij Bidesh India Ltd, India's main vehicle for securing critical mineral supplies overseas, is also evaluating investment opportunities in Australia, Brazil, Canada, Russia and Indonesia, and is in talks about a project in Malawi.

India has been in talks with several African countries to acquire critical mineral blocks on a government-to-government basis, while also exploring opportunities in Australia and Latin America.

Africa, and the Democratic Republic of Congo and Zambia in particular, can play an important role in meeting India's growing requirements for copper and cobalt, said a spokesperson for the Federation of Indian Mineral Industries.

"We believe Indian companies should primarily be encouraged to pursue brownfield and near-production projects, along with long-term offtake arrangements," the spokesperson said.

India is the world's second-biggest buyer of refined copper and its copper imports have risen sharply since the 2018 closure of Vedanta's VDAN.NS Sterlite Copper smelter. It may have to import 91% to 97% of its copper concentrates by 2047, the government has said.

(Reporting by Neha Arora in New Delhi; Additional reporting by Chris Mfula in Lusaka; Editing by Mayank Bhardwaj and Tomasz Janowski)

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Aug 26 (Reuters) - Vedanta Ltd VDAN.NS:

• VEDANTA RESOURCES DENIES RECENT MEDIA SPECULATION REGARDING SALE OF ITS SHAREHOLDING IN VEDANTA GROUP COMPANIES - VEDANTA SPOKESPERSON

• VEDANTA RESOURCES SAYS CURRENTLY NO PLAN TO SELL ITS SHAREHOLDING IN VEDANTA GROUP COMPANIES - VEDANTA SPOKESPERSON

Source text: [ID:]

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Vedanta Ltd released encumbrances over 2.14 billion shares, representing 54.72% of its equity, after the complete repayment of three facilities arranged for entities in the Vedanta Resources group. The release took effect on 21 August 2026, and Kroll Trustee Services said no encumbrances over Vedanta shares remained in its favour. The facilities carried aggregate commitments of up to US$1.73 billion under agreements signed in April 2025, June 2025 and January 2026, with the last agreement amended in May 2026. The release followed other promoter-financing disclosures in August covering the repayment of US$80m, US$500m and US$550m facilities, while larger arrangements remained disclosed in principle.

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Aug 14 (Reuters) - Vedanta Ltd VDAN.NS:

• DECLARED AS SUCCESSFUL BIDDER FOR PUNNAM MANGANESE BLOCK IN ANDHRA PRADESH

• DECLARATION AS SUCCESSFUL BIDDER OF PUNNAM MANGANESE BLOCK IN ANDHRA PRADESH

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India Ratings withdrew the ratings on Vedanta Ltd’s non-convertible debentures after the instruments were transferred to Vedanta Aluminium Metal Ltd as part of the group’s demerger. The debentures had previously carried IND AA-/Rating Watch with Developing Implications in Vedanta’s portfolio, while VAML’s debt was rated IND AA+/Stable. The demerger took effect on 1 May 2026, and four of the resulting entities were listed on the NSE and BSE on 15 June. Vedanta’s continuing operations reported Q1 FY27 revenue of ₹23,456 crore, cash of ₹19,992 crore and net debt of 0.3 times EBITDA.

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Aug 5 (Reuters) -

• A UNIT OF INDIA’S VEDANTA GROUP IS RAISING ABOUT 135 BILLION RUPEES ($1.4 BILLION) FROM AT LEAST THREE BANKS - BLOOMBERG NEWS

Source text: [ID: https://tinyurl.com/2dk7ycsq]

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Corrects day to 'Thursday' from 'Friday' in first paragraph

July 30 (Reuters) - India's Vedanta Aluminium Metal VEDO.NS, the pure-play aluminium company formed after Vedanta's VDAN.NS demerger, reported a more than three-fold jump in first-quarter profit on Thursday, boosted by higher aluminium prices.

Here are details from the company's earnings report:

• The company's consolidated net profit climbed to 56.29 billion rupees ($588.62 million) for the quarter ended June 30, its first as an independent company, from 17.81 billion rupees a year ago.

• Aluminium prices remained elevated in the April-June period due to Middle East supply disruptions, Chinese output constraints, and strong demand -- which boosted Vedanta Aluminium's topline.

• Spot aluminium prices rose 46% year-on-year in the June quarter, according to data from a Jefferies note.

• The company's aluminium production increased 5% on-year to 632 kilo tons.

• Spot prices of alumina, or aluminium oxide, which is used in the production of aluminium and also as a catalyst in petrochemical refining and is one of the company's products, dropped about 6%.

• A 41% increase in production limited the impact of lower alumina prices on the company's earnings.

• Vedanta Aluminium's net profit margin more than doubled to 31% from 15%.

• Total revenue from operations jumped 46% to 213.93 billion rupees.

• The firm's expenses rose 7.5% to 128.70 billion rupees, despite a near 5% drop in cost of materials consumed.

($1 = 95.6300 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Ronojoy Mazumdar)

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By Neha Arora

NEW DELHI, July 24 (Reuters) - Canadian climate technology developer Enervoxa plans talks with India's Vedanta VDAN.NS, Hindalco Industries HALC.NS and state-run NALCO NALU.NS as it looks to set up a processing plant in the country to extract rare earths from a waste byproduct of aluminium production.

A commercial-scale plant would cost around $250 million to $350 million and could be financed through a combination of strategic equity and project financing, Enervoxa Chief Executive Vandit Verma told Reuters. The company is looking at potential locations in eastern India for the project, he said.

Recovering rare earth concentrates from bauxite residue — a byproduct of aluminium production known as red mud — is a relatively new commercial application that has gained momentum amid growing geopolitical concerns over China's dominance of rare earth processing.

Rare earth elements are essential to technologies spanning mobile phones, electric vehicle motors and defence applications such as cruise missiles.

India holds substantial rare earth reserves but lacks industrial-scale facilities capable of processing the minerals to high purity levels. The country is also the world's second-largest aluminium producer and its third-biggest consumer.

Enervoxa has spent eight years developing its own process to recover rare earths from red mud, Verma said in an interview on Wednesday.

In addition to aluminium producers, Enervoxa plans to approach engineering companies, steel manufacturers and critical minerals processing companies to develop an integrated value chain for the products recoverable from red mud, which also include iron oxide, coagulants, pigments and titanium-bearing materials.

The company also plans to seek Indian government assistance, Verma said.

India's Jawaharlal Nehru Aluminium Research Development and Design Centre, along with other stakeholders under government think tank NITI Aayog, is conducting research into metal extraction and rare earth element enrichment from red mud, the government said last year.

Enervoxa's project could involve either full processing of red mud within India or production of a rare earth concentrate for refining at a dedicated downstream facility, Verma said.

The company is currently focused on evaluating commercial opportunities with companies in India, North America, Southeast Asia and other alumina-producing regions, he said.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Kevin Buckland)

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NEW DELHI, July 20 (Reuters) - India's coal-fired power plants have sufficient coal stocks to run for about two weeks at higher operating rates, easing concerns about fuel shortages amid rising electricity demand and below-average monsoon rainfall.

• Coal stocks at power plants stood at 42.8 million tonnes as of July 12, enough for 14 days of operation at an 85% plant load factor, the power ministry said in a reply to parliament on Monday.

• Utilities are also getting sufficient coal supplies to meet their daily requirements, it added.

• India's peak power demand surged last week to nearly 270.1 gigawatts (GW), driven by higher cooling demand as an El Nino pattern contributed to weaker rainfall.

• India's peak power demand had reached 270.2 GW in May, and the government expects it to touch 280 GW this year due to the absence of stronger monsoon rains.

• Coal remains the backbone of India's power system despite the country's aggressive renewable energy expansion.

• Coal and lignite-fired plants accounted for 69.5% of electricity supplied during April-June and generated about 75% of power during non-solar peak-demand hours, according to the ministry.

• The government has intensified coordination among the coal, power and railway ministries to monitor supplies and prioritize coal transportation to power stations, the power ministry said.

• India added 9.47 GW of coal-fired generation capacity in 2025-26 and a further 2.26 GW between April and July, helping support record electricity demand, the government said.

(Reporting by Sethuraman NR; Editing by Susan Fenton)

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Vedanta Ltd disclosed on Tuesday that the promoter group has created an encumbrance over 2.14 billion shares, representing a 54.72% stake in the company, in connection with a $1.75 billion bond issuance by Vedanta Resources Finance II Plc. The encumbrance, arising from trust deeds signed on 13 July 2026, restricts the promoter entities from selling or pledging the shares beyond specified conditions and requires the Vedanta Resources group to retain control of the company or directly or indirectly own at least 50.1% of Vedanta Ltd. The filing clarifies that no traditional pledge has been created over the shares, but the contractual restrictions are likely to fall within the definition of encumbrance under SEBI's takeover regulations.

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July 14 (Reuters) - Vedanta Ltd VDAN.NS:

• VEDANTA PLANS TO NEARLY TRIPLE ZINC AND LEAD PRODUCTION TO 3 MILLION TONNES BY 2031 - AGM

• VEDANTA CHAIR - VEDANTA ALUMINIUM TO DOUBLE CAPACITY TO 6 MILLION TONNES/YEAR OVER NEXT THREE YEARS - AGM

• VEDANTA CHAIR: WILL INVEST $5 BLN OVER THREE TO FIVE YEARS FOR VEDANTA OIL & GAS - AGM

• VEDANTA CHAIR: VEDANTA IRON AND STEEL WILL GROW FROM FOUR MILLION TONNES TO 15 MILLION TONNES ANNUALLY - AGM

• VEDANTA CHAIR - AT VEDANTA OIL AND GAS, WE AIM TO PRODUCE 500,000 BARRELS PER DAY - AGM

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** Motilal Oswal initiates coverage on India's Vedanta Aluminium Metal VEDO.NS, the pure-play aluminium company formed after Vedanta's VDAN.NS demerger, with a "buy" rating and PT at 540 rupees, ~20% higher than current price

** Brokerage says VEDO's consolidated revenue and PAT to grow at ~11% and 23% CAGR over FY26-28

** Growth to be driven by volume expansion, structural cost reductions, increased contribution from value-added products - Motilal Oswal

** Brokerage expects VEDO to benefit from favourable industry dynamics and company-specific structural drivers

** VEDO up 1% to 448.2 rupees

** Stock down ~14% since listing on June 15

(Reporting by Anuran Sadhu in Bengaluru)

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June 23 (Reuters) - Vedanta Ltd VDAN.NS:

• TWIN STAR HOLDINGS SELLS 65.1 MILLION SHARES IN VEDANTA AT 291.36 RUPEES/SHARE VIA BULK DEAL - NSE DATA

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By Nelson Banya

June 19 (Reuters) - Zambia's ZCCM Investment Holdings ZCCM.LZ said on Friday that Vedanta's VDAN.NS planned IPO of its copper unit could speed up their jointly owned company's $2.7 billion expansion project.

Vedanta is preparing the U.S. listing of CopperTech Metals, a U.S.-domiciled integrated copper and cobalt producer, which will operate its 79%-owned Konkola Copper Mines in Zambia's copperbelt province. ZCCM owns the balance of the shareholding.

Zambia, Africa's No.2 copper producer, plans to raise output to 3 million metric tons by 2031, from 890,346 tons last year, as it seeks to capitalise on rising copper demand, driven by the global shift to renewable energy.

Vedanta regained control of Konkola in 2023, after the asset was seized by Zambia's previous administration of former president Edgar Lungu in 2019.

The company's Konkola Deep Mine Programme (KDMP) project seeks to raise Konkola's copper output to 300,000 tons by 2031, from 80,215 tons last year.

ZCCM board chairman Phesto Musonda told investors that a listing should cut the project's ramp-up time by three years.

"The commitment by Vedanta was that they would spend $1.1 billion on the KDMP in the next five years, but with the listing now, we have adjusted the timeline," Musonda said during ZCCM's capital markets day hosted in Paris.

"We are saying, this cash is available now, the investment we have brought it to 2028. We're going to have the KDMP development way before the five years," he added.

Vedanta did not respond to a request for comment.

The expansion project includes one of Zambia's deepest shafts, reaching 1,500 metres, to access high-grade ores, as well as dewatering and processing infrastructure.

ZCCM, which is listed on the Lusaka, London and Euronext stock exchanges, said it was considering a stock buy-back to shore up its share price, which it says is significantly undervalued on the European bourses.

(Reporting by Nelson Banya; Editing by Alexander Smith)

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** Vedanta Aluminium Metal VEDO.NS stock falls 5% below listing price to 495.90 rupees in trading debut

** Listed at 522 rupees, 331.3% higher than issue price of 121.03 rupees

** Vedanta Oil and Gas VEDL.NS also drops 5% below opening price on debut

** Vedanta Power TALA.NS and Vedanta Iron and Steel VEDR.NS rise 3.3% and 5.3% post-listing on NSE

** Parent Vedanta VDAN.NS, which now houses the base metals business, slips 1%

** All four firms listed Monday following demerger scheme that split VDAN's aluminium, power, iron & steel, and oil & gas units

(Reporting by Vijay Malkar)

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By Neha Arora and Sarita Chaganti Singh

NEW DELHI, June 10 (Reuters) - Indian industrial groups Reliance, Vedanta and Adani have shown interest in developing facilities to process Andhra Pradesh state's significant reserves of increasingly important rare-earth minerals, according to two sources with knowledge of the matter.

With New Delhi seeking to cut India's dependence on China for rare earths, the three companies are among about 10 who have expressed interest in setting up rare earth facilities in the southern state, one of the sources said.

The sources declined to be identified as they were not authorised to speak to the media.

Andhra Pradesh holds 211 million metric tons of beach sand mineral resources, including rare earths, across 16 identified coastal deposits, according to a draft document. India has 482.6 million tons of rare earth ore resources, according to the Geological Survey of India.

RARE EARTH AMBITIONS

The interest comes as New Delhi steps up efforts to build domestic rare earth mining, processing and magnet manufacturing capacity, while Andhra Pradesh aims to attract 500 billion rupees ($5.2 billion) in rare earth and titanium investments over the next decade.

The plans were set out in a draft government document.

The Andhra Pradesh government, Reliance Industries Ltd RELI.NS, Vedanta Ltd VDAN.NS and Adani Enterprises Ltd ADEL.NS did not respond to Reuters emails seeking comment.

Andhra Pradesh was among four states identified in February's federal budget for the development of rare earth "corridors" covering mining, processing and magnet production.

The initiative followed New Delhi's approval in November of a 73 billion rupee programme to support rare earth magnet manufacturing.

Rare earth elements are essential for permanent magnets used in applications such as electric vehicle motors. While India holds substantial rare earth reserves, it lacks industrial-scale facilities capable of processing the minerals to high purity levels.

CAPITAL INCENTIVES AND OTHER MEASURES

Andhra Pradesh plans to issue tenders for rare earth facilities after securing cabinet approval for its rare earth corridor policy, which is expected within a month, the sources said.

The state also plans to offer capital-linked incentives and additional benefits for projects with investments of 10 billion rupees or more, the sources said.

Andhra Pradesh has been courting large-scale investments, attracting companies including Google and ArcelorMittal Nippon Steel, and aims to secure $1 trillion in investment commitments by 2029, a state minister told Reuters last November.

(Reporting by Neha Arora and Sarita Chaganti Singh; Editing by Mayank Bhardwaj and David Holmes)

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June 4 (Reuters) - Vedanta Ltd VDAN.NS:

• VEDANTA - SEARCH OPERATION WAS CONDUCTED BY THE DIRECTORATE OF ENFORCEMENT AT PREMISES OF THE COMPANY

• VEDANTA - SEARCH HAD BEEN CONDUCTED UNDER THE PROVISIONS OF THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999

• VEDANTA - NO IMPACT ON FINANCIAL, OPERATION OR OTHER ACTIVITIES OF COMPANY

• VEDANTA - NO PENALTY OR RESTRICTION HAS BEEN IMPOSED

Source text: ID:nnAZN4T0JEB

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LUSAKA, June 3 (Reuters) - Zambia has extended the suspension of a 10% duty on copper concentrate exports to September 30, to help clear stockpiles of unprocessed material as the country's major smelters undergo extended maintenance and repairs.

Copper miners in Africa's second-largest producer of the metal used in electrical infrastructure are undertaking lengthy smelter maintenance programmes following technical challenges that have impacted processed output.

Zambia mostly exports its copper in the form of refined cathodes, rather than as concentrate. The country exported 890,346 metric tons of copper in 2025 and plans to raise national output to 3 million tons by 2031.

The suspension of the duty, first implemented in August 2025, covers 271,742 tons of copper concentrates, according to a government notice seen by Reuters on Wednesday.

Mopani Copper Mines, jointly owned by Abu Dhabi-based International Resources Holding and Zambia's state mining company ZCCM-IH, has the largest duty-free export quota of 100,000 tons of copper concentrates.

Barrick Mining Corp's ABX.TO Lumwana Mining Company has a quota of 56,986 metric tons, followed by First Quantum Minerals FM.TO and the Chinese-owned Nkana Mining and Minerals Processing, with about 43,000 tons each.

Lubambe Copper Mine, 70% owned by China's JCHX Mining 603979.SS, has a 15,000-ton duty-free export quota, while Vedanta's VDAN.NS Konkola Copper Mines has a quota of 12,541 tons, according to the government notice.

(Reporting by Chris Mfula, writing by Nelson Banya
Editing by Tomasz Janowski)

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June 2 (Reuters) - Vedanta Ltd VDAN.NS:

• VEDANTA - ENFORCEMENT DIRECTORATE VISITS OFFICES OF VEDANTA AND HINDUSTAN ZINC

Source text: ID:nNSEb8Bq1N

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Adds dropped word 'president' in paragraph 10

By Neha Arora

NEW DELHI, May 19 (Reuters) - India's top copper producers, including Adani, Vedanta and Hindalco, are opposing plans to make copper wire made by secondary refiners acceptable under government quality standards, saying products made from scrap pose safety risks.

The dispute has triggered a months-long standoff between large primary producers and smaller refiners over fire-refined high conductivity (FRHC) copper rods, which are mainly used in electrical applications such as transformers, power cables and wires.

Large producers argue that copper rods from smaller refiners, which mostly use scrap as raw material, should not be under the same standards because the products may not consistently meet the purity levels required for electrical applications.

"Indian fire (secondary) refiners may not have the requisite technology and hence are incapable of manufacturing the FRHC grade consistently," the large producers said, according to the minutes of a March 23 meeting of the Bureau of Indian Standards (BIS) that was reviewed by Reuters.

The state-run BIS oversees product quality standards in India.

"Many of the manufacturers are not refining and just re-melting scrap to make substandard product," the minutes said of the views expressed by the Indian Primary Copper Association (IPCPA).

The IPCPA's partners include Adani ADEL.NS, Vedanta VDAN.NS, Hindalco HALC.NS and Hindustan Copper HCPR.NS.

In the minutes, secondary producers defended their production method, saying fire refining is used to control the chemical composition of copper and meets conductivity requirements used internationally for cable manufacturing.

The BIS did not respond to requests from Reuters for comment.

IPCPA President Rohit Pathak said the industry body was seeking separate standards for FRHC copper because "fire refining which uses copper scrap as the primary input, cannot remove impurities to achieve 99.99% purity required for electrical applications."

"Lower purity will increase overheating and fire risks. A separate standard will help ensure safe usage," Pathak, who is also CEO of Hindalco's copper business, told Reuters in a statement.

India's total demand for copper rods in the fiscal year to end-March 2025 was estimated at 1.2 million metric tons, of which imports accounted for 0.1 million tons, while FRHC copper rod production stood at 0.4 million tons, according to industry estimates.

Imports are mainly sourced from the United Arab Emirates, although supplies have been disrupted this year by the Middle East conflict.

As a result of the dispute, about 400,000 tons of copper wire rod is currently being traded outside the quality control regime, an industry source said.

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Raju Gopalakrishnan)

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May 15 (Reuters) - Vedanta Ltd VDAN.NS:

• VEDANTA - AMENDS FACILITY AGREEMENT WITH TOTAL COMMITMENT UP TO $600 MILLION

Source text: ID:nBSE1SYMhT

Further company coverage: VDAN.NS

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** Vedanta VDAN.NS shares rise 4.5% to 337.80 rupees, hitting a record high

** S&P raises long-term issuer credit rating for London-based parent company Vedanta Resources to BB from B+

** S&P upgrades citing improving operating performance, stronger cashflows and better access to funding

** Says the company is benefiting from higher commodity prices and a more integrated cost structure, particularly in aluminum

** Moody's in May upgraded the company to Ba3 from B1; Fitch in April upgraded to BB– from B+

** Moody's said Vedanta's demerger into five listed companies will improve the organization structure

** Nine of 13 brokerages rate the stock "buy" or higher; their median PT is 847.5 rupees

** YTD, stock up 50.3% vs 10.4% decline in benchmark Nifty 50 Index .NSEI

(Reporting by Abhinav Parmar in Bengaluru)

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** Shares of Vedanta VDAN.NS climb 7.7% to 292.6 rupees, highest intraday pct rise since Sept 2022

** An Indian appeals court rejected Vedanta's challenge to Adani Group's winning bid for bankrupt real estate giant Jaiprakash Associates JAIA.NS

** "The tribunal’s ruling brings clarity and removes uncertainty around the Jaiprakash Associates bid," Deven Choksey, managing director at DRChoksey FinServ said

** Adds, stock move is also supported by rising metal commodity prices

** The metals-to-oil conglomerate posted a 92.3% jump in quarterly profit last week, helped by strong base metal prices that boosted margins

** Co's shares have risen 5.4% since results

** In April, Vedanta approved its split into four separate listed companies, effective May 1, which will begin trading in mid-June

** Stock rated as "Buy" on average by 13 analysts; median PT at 855 rupees as per data compiled by LSEG

** More than 71.8 million shares change hands vs 30 day avg of 20.6 million shares

** YTD, shares up 29.3%

(Reporting by Mridula Kumar and Surbhi Misra in Bengaluru)

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