Vedanta starts iron ore mining in Liberia via subsidiary

The ceremony was held at the Bomi iron ore mine on 8 June 2022.

Vedanta Iron & Steel sector has ventured into International Iron ore mining operations in Liberia, West Africa through its subsidiary Western Cluster Limited (WCL).

WCL is a wholly owned subsidiary of Bloom Fountain ('BFL'), which is in turn a wholly-owned subsidiary of Vedanta.

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 with further expansion potential through exploration, Vedanta said.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

The company reported 10% drop in consolidated net profit to Rs 5,799 crore on a 41% increase in revenue from operations to Rs 39,342 crore in Q4 FY22 over Q4 FY21.

Shares of Vedanta were down 3.45% to Rs 290.80 on the BSE.

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