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Hindustan Times
5 days ago
- Politics
- Hindustan Times
Odisha: Medha Patkar, IRS officer detained over planned protest against bauxite mining
Environment activist Medha Patkar was detained along with over 20 others by the Rayagada administration shortly after she arrived in the Odisha district on Thursday to participate in a public meeting in protest against the proposed bauxite mining by Vedanta Limited. Officials barred her from reaching the place along with 24 others, including activist Prafulla Samantra and IRS officer Sunanda Jhodia, citing that her presence at the protest at Sunger Hatapada village, organised by anti-mining forum 'Maa Mati Mali Surakshya Mancha', could create a law-and-order situation. Rayagada district collector Parul Patawari's order, dated June 4, said there is a reasonable apprehension the movement and the presence of Patkar and other activists may lead to deterioration of law and order, disturb public peace and hinder smooth conduct of administrative affairs and development processes in the district. 'Therefore in exercise of the powers conferred under Sec 163(3) of Bharatiya Nagarik Surakhya Sanhita,2023, Collector hereby issues prohibiting order restricting the above named individuals from entering or remaining present in Rayagada district for a period of two months from the date of issue of this order & participating in or instigating any form of protest, Dharana or unlawful assemblies within the said area. Any violation of this order shall be liable for action as per the law,' the order stated. After she was detained at the Rayagada railway station by police, Patkar was swiftly sent to Berhampur from where she travelled to Bhubaneswar. 'When I got off the train, the police stopped me at the station. I sat there and they asked me to wait in the VIP lounge, but I refused. I was supposed to go to the house of the person who came to receive me and then attend the programme. But the police did not allow it and showed me an order from the Collector listing 20 to 25 names of people who were barred from entering Rayagada district. They accused me of coming here to 'instigate' people,' she said. The meeting at Sunger, where Patkar was scheduled to speak, was planned in protest against bauxite mining at hills that straddle Kalahandi and Rayagada districts. In March 2023, the Odisha government issued a 50-year mining lease for a proposed bauxite mining project in the Sijimali hills, with the mines extending over an area of 1,549 hectares. After facing setbacks in its plans to mine at the Niyamgiri hills, Vedanta's interest shifted to the Sijimali. The mines have an estimated bauxite reserve of 311 million tonnes. The Sijimali mining project is likely to displace 100 families from 18 villages in the two districts, activists claim. Vedanta has applied for the mandatory Environment Clearance under the Environment (Protection) Act, 1986, and Forest Clearance under the Forest (Conservation) Act, 1980. In October 2023, two public hearings in Rayagada and Kalahandi districts for environmental clearance ended amid much protests. Protesting the detention of Patkar, former state Congress chief Niranjan Patnaik called it unfortunate. 'It is an assault on the very spirit of democracy. People who believe in democratic values should reflect seriously on this. Who are the architects behind this decision? In whose interest such a decision has been taken,' Patnaik asked.
Business Wire
01-05-2025
- Business
- Business Wire
Vedanta Limited Reports Highest-Ever Quarterly & Annual Revenue
MUMBAI, India--(BUSINESS WIRE)--Indian multinational Vedanta Limited ('Vedanta') (NSE: VEDL), one of the world's leading transition metals, critical minerals, energy, and technology conglomerates, announced its results for Q4 and the financial year ending March 31, 2025. The company recorded its highest-ever fourth quarter Consolidated Revenue at $4.6 billion, up 9% YoY. EBITDA for the quarter was at $1.3 billion, up 24% YoY, while the EBITDA margin was 35%, up ~465 bps YoY. The quarterly Profit After Tax stood at $0.6 billion, up 109% YoY. For the financial year 2025, Vedanta recorded its highest ever Consolidated Revenue at $17.8 billion, up 8% YoY 1. EBITDA for FY25 stood at $5.1 billion, the second highest ever, up 34% YoY 1, while the Profit After Tax was $2.4 billion, up 167% YoY. Speaking on the company's results, Ajay Goel, CFO, Vedanta Ltd. said, ' This outstanding performance has been driven by our continuous focus on operational excellence, disciplined cost optimization, and the advantage of buoyant market dynamics. Furthermore, Vedanta Limited balance sheet deleveraged by ~$500 million in Q4 with a closing Net Debt of $ 6.2 bn, enabling substantial improvement in leverage to 1.2x, reinforces our robust financial foundation.' Arun Misra, Executive Director, Vedanta Limited, added, ' This quarter concludes a year of exceptional achievement in FY25, where we not only delivered the highest-ever annual volumes for Aluminium and Zinc but also drove costs of production down significantly, reaching four-year lows for Zinc India CoP and ex-Alumina CoP at Aluminium. Our outlook for FY26 is firmly focused on growth and efficiency.' Vedanta recorded its ever-highest annual production of aluminium at 2,422 KT. The company's Indian zinc operations achieved highest ever mined and refined metal production at 1,095 KT and 1,052 KT respectively. Vedanta is currently in midst of a demerger that will result in creation of five independent sector specific companies that is expected to significantly unlock shareholder value. For more information, please visit
Time of India
01-05-2025
- Business
- Time of India
Labour ministry exempts Vedanta Coal block in Odisha from certain provisions of Contract Labour Act for three years
The ministry of labour and employment exempted the coal block in Odisha allotted to Vedanta Limited from the provisions pertaining to the employment of contract labour employed in its Jamkhani Coal Mines , Bileimunda in the Sundargarh district of Odisha for a period of three years. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan In a notification dated April 29, the ministry said this exemption has been given by the Centre in exercise of the powers conferred by section 31 of the Contract Labour (Regulation and Abolition) Act, 1970 after consultation with the Central Advisory Contract Labour Board. 'The central government hereby exempts the coal block allotted to M/s Vedanta Limited namely Jamkhani Coal Mines, Bileimunda, District Sundargarh (Odisha) from the applicability of government notification dated 21st June, 1988 in respect of employment of contract labour in the works specified in the Schedule to the said notification for the period of three years with effect from the date of publication of this notification,' it said. The government, however, said this exemption will be subject to the condition that the interest of the workmen engaged in the above mentioned works shall be protected and that such workmen be paid wages and other benefits as per the recommendations of the high-powered committee appointed by the Coal India and the rates notified by the Coal India Limited from time to time. 'Further, the Central Advisory Contract Labour Board shall have the right to inspect the establishment to ensure and check whether such wages and benefits are given to such workers in establishment while the management of Vedanta shall ensure that whenever there is a change of contract, existing contract workmen who are working may be given preference in employment by the incoming contractor, subject to satisfactory performance of duties,' it said. 'The workmen working in jobs ancillary or incidental to coal mining works shall get wages as determined by Coal India and the contractor, as well as the principal employer, shall ensure payment of the said wages, which increases in every six months, and also other benefits,' it added. As per the notification, the management will have to ensure that the contract workers shall be covered under the provisions of the Payment of the Gratuity Act, 1972 and shall be paid bonus and leave with wages as per the provisions of the Mines Act, 1952.
Time of India
30-04-2025
- Business
- Time of India
Vedanta hits record 13.1 million tonnes in metal reserves, adds 9.0 million tonnes in five years
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mining major Vedanta Limited surpassed 13.1 million tonnes (Mt) of metal reserves for the first time, following a gross addition of 9.0 Mt over the past five years, the company announced in an exchange filing with its Q4FY25 results on achievement comes despite a production of 1.2 Mt during the same period. The company's total metal resources and reserves now stand at 29.6 Mt, offering over 25 years of mine life.'I'm pleased to report strong Q4 FY25 results, reflecting our consistent focus on operational discipline. This quarter concludes a year of exceptional achievement, where we not only delivered the highest-ever annual volumes for Aluminium and Zinc but also drove costs of production down significantly," said Arun Misra, Executive Director at Vedanta line with its transformation strategy, Vedanta has focused on several strategic projects to enhance its operational efficiency and cost position, he company posted a 154% year-on-year rise in consolidated net profit, reaching Rs 3,483 crore. Revenue from operations grew by 14% YoY, amounting to Rs 40,455 crore. Consolidated EBITDA for the quarter stood at Rs 11,618 crore, marking a 30% YoY increase and a 3% QoQ rise. The EBITDA margin reached an impressive 35%, the highest seen in the last 12 Vedanta's aluminium business showed impressive growth, with quarterly production rising 1% YoY to 604 kt. The company achieved record sales of value-added products (VAP), which increased by 16% YoY, reaching 338 kt. Domestic sales also saw a significant 17% zinc, Vedanta delivered its highest-ever mined and refined output in a single quarter, producing 310 kt and 270 kt, respectively. The cost of production for zinc decreased to $994/tonne, marking a 16-quarter low, driven by operational efficiencies and improved grades. Silver production also saw an increase, rising to 177 tonnes in Zinc International business recorded a 52% YoY increase in mined metal production to 50 kt. The company's Gamsberg mine contributed significantly to the growth, reporting improved grades and volumes. This resulted in a 25% YoY reduction in the cost of production to $1,263/tonne. With Phase II of the Gamsberg expansion underway, production from this region is expected to continue rising.
New Indian Express
26-04-2025
- Business
- New Indian Express
Sunil Gupta appointed new CII Odisha chairman
BHUBANESWAR: The Odisha state council of Confederation of Indian Industry (CII) on Friday announced Sunil Gupta, chief operating officer (aluminium business) of Vedanta Limited, Jharsuguda as the chairman for 2025-26. Suresha G, executive director (Odisha assets operation) of AM/NS India has been appointed as the vice chairman. Speaking on the occasion, Gupta emphasised CII's strategic focus on driving Odisha's growth across critical sectors including MSMEs, metals and mining, healthcare, agriculture and food processing. 'CII aims to catalyse inclusive economic progress across the state by expanding its operations, particularly in western Odisha, and partnering closely with the government. We will also focus on strengthening the industrial ecosystem by promoting green building certification, enhancing export potential, and improving infrastructure,' he said. Suresha reiterated the council's commitment to leveraging CII's Centres of Excellence to bring sectoral expertise to Odisha. 'We will support job creation and productivity by providing training on GST, GEM, TQM, and export documentation, while collaborating on skill development of youths,' he said.
