Vedanta Produces 2.2 MnT Iron Ore from Goa in FY16

Mining conglomerate-Vedanta has today (11 Apr’16) announced its fourth quarter results ending Mar’16.

Major highlights of Vedanta’s FY16 annual result are as follows-

1. Iron ore mining operations in Goa ramped up to 2.2 MnT in FY16
2. Iron ore sales from Goa were recorded at 2.2 MnT which includes 1.4 MnT of traded ore purchased from the e-auctions
3. Karnataka iron ore production was recorded at 3 MnT in FY16, through a combination of production of 2.15 MnT and opening crude ore inventory of 0.8 MnT

Q4 FY16 highlights-

1. Iron ore production in Goa stood at 1.9 MnT in Q4 FY16 and sales stood at 1.6 MnT in the same time period
2. Company’s Goa iron ore production was impacted due to delay in transportation rate negotiations which were resolved in Mar’16
3. At Karnataka production was 0.9 MnT in last quarter of FY16 and sales stood at 1 MnT

Source: Company report