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Fresh trouble for Vedanta Aluminium in Orissa

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BHUBANESWAR (Commodity Online): Vedanta Aluminium is bracing for fresh trouble at its proposed bauxite mining site in Orissa, even as local
authorities gave a report to Orissa government stating that the company had not violated any government guidelines.

Vedanta’s proposed bauxite mining operation is critically linked to VAL’s Rs 11,000-crore aluminium project in the state. While it has already commissioned its alumina refinery at Lanjingarh, the company has been unable to start work at Niyamgiri, the chosen site of its captive bauxite mining operations.

Vedanta’s fears stem from the fact that it is yet to even kick off in the Niyamgiri hills, even a year after it received the go-ahead from the Supreme Court. In a letter to the police superintendents of Rayagada and Kalahandi last week, Vedanta COO-Lanjigarh Mukesh Kumar, told Business Standard newspaper: “We are seeing increased movement of foreigners from various countries in the area. We also came to know that several confrontations have taken place in various villages between tribals and foreigners, and we apprehend that this may lead to some serious law and order situations.”
MCX Copper 29 June 2012 contract was trading at Rs 400.9 , up Rs. 3.15 . What's your view on it?
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