Vedanta Limited inaugurates its International Iron Ore Operations through its subsidiary Western Cluster Limited, Liberia

Vedanta Limited Iron & 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 08, 2022.

WCL is a wholly owned subsidiary of Bloom Fountain Limited ('BFL') which is in turn a wholly owned subsidiary of Vedanta Limited. WCL had signed a Mineral Development Agreement with the Government of Liberia ('GoL') for three Iron Ore Mining concessions in Liberia namely Bomi, Bea, and Mano in 2011. However, the operations could not be started due to outbreak of Ebola epidemic. WCL is set to restart its operation in a much bigger way with further expansion potential through exploration.

Shares of Vedanta Limited was last trading in BSE at Rs. 301.20 as compared to the previous close of Rs. 302.85. The total number of shares traded during the day was 314619 in over 5320 trades.

The stock hit an intraday high of Rs. 303.35 and intraday low of 294.80. The net turnover during the day was Rs. 94101421.00.

Source : Equity Bulls

Keywords

Vedanta INE205A01025 VEDL IronandSteel IronOreMining Liberia WestAfrica