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Legal▼ Bearish for Vedanta
Setback for Vedanta as Orissa HC rejects old bauxite supply pact
The brief
- Orissa High Court rejected Vedanta’s old bauxite supply pact
- The ruling could sharply raise bauxite costs for Vedanta’s aluminium business
- Higher bauxite costs could weigh on Vedanta’s aluminium business and margins
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Vedanta’s Odisha investment plans and bauxite dispute
Vedanta announced a ₹1 lakh crore investment drive in Odisha, targeting 50,000 jobs and proposing aluminium projects including a smelter in Dhenkanal and a refinery in Rayagada. The Orissa High Court rejected Vedanta’s plea to enforce a 2004 bauxite supply agreement, saying it could not override mining law.
Thursday, 1 October
- Setback for Vedanta as Orissa HC rejects old bauxite supply pact