Latest News | Vedanta Forays into Iron Ore Mining Overseas

New Delhi, Jun 10 (PTI) Vedanta Ltd on Friday said that it has forayed into iron ore mining operations overseas through its arm Western Cluster Limited, Liberia.

WCL (Western Cluster Limited, Liberia) is a wholly-owned arm of Bloom Fountain Ltd (BFL) which is a wholly-owned subsidiary of Vedanta Ltd.

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"Vedanta Limited iron and steel sector has ventured into international iron ore mining operations in Liberia, West Africa through its subsidiary WCL with the ground-breaking ceremony that was held at the Bomi iron ore mine on June 8," the mining giant said in a filing to BSE.

WCL had entered into a mineral development pact with the government of Liberia for three iron ore mining concessions -- Bomi, Bea and Mano -- in 2011.

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However, the mining operations could not be started on account of outbreak of Ebola epidemic.

WCL is set to restart its operation in a much bigger way with further expansion potential through exploration.

Vedanta's iron ore business Sesa Goa Iron Ore is India's leading producer and exporter of iron ore in the private sector. Founded in 1954 and acquired by Vedanta in 2007, it owns large iron ore mines and operates in Goa, Karnataka and Jharkhand. It is headquartered in Panaji.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)