What is the business profile of your company?
Vedanta is a diversified natural resources group having
business interests in commodities such as copper, zinc, lead,
silver, aluminium, power, iron ore and oil and gas. Vedanta is
listed on the London Stock Exchange.
As a supplier, who are your major institutional and project
As a customer of commodities, our clients include: for oil
and gas, refineries in India such as Reliance Industries, ONGC
subsidiary Mangalore Refineries and Petrochemical, and
IndianOil Corporation. Domestic sales for zinc, aluminium and
copper are to metal producers or end-users in India, while
export sales are mainly to the Far East, the Middle East,
Africa, Europe and China. For iron ore, we sell mainly to
How many lawyers work in-house at Vedenta Resources, and to
what extent do you outsource work and to which law firms?
The in-house legal team is separate for each company within
the Vedanta Group. We do outsource legal work, and some of the
firms we have used recently include Allen & Overy, Ashurst,
Baker & McKenzie, Latham & Watkins, Linklaters and
Shearman & Sterling.
Do you think the Indian regulators are working towards a
more robust environment programme?
One of the key challenges facing India today is how to
maintain high economic growth and, at the same time, ensure
environmental sustainability and social justice. The government
has been working on various bills and initiatives, such as the
MMDR bill for mining, the land acquisition bill for land, and
establishing a new environment regulator.
How do you think the regulators will respond to the coal
licensing issue raised by the Comptroller and Auditor General
We understand that the regulators will be working on the
auctioning of coal assets, which is a more efficient manner of
allocating natural resources. We believe that, in the near
future, coal and other mining assets will also be
What will be the financial implications for developers and
investors if such decisions are implemented?
We can see coal assets being auctioned moving forwards,
which is more efficient. In a way, only serious players will be
to return to IFLR supplements