Vedanta Resources Limited Results for the Year Ended 31 March 2020
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Skorpion Zinc a Jewel in the Desert
January 2018 FACT SHEET SKORPION ZINC A JEWEL IN THE DESERT • Key to the vision of Vedanta Zinc International (VZI) for a Southern African zinc complex of international standing • Aiming to become the safest, socially responsible 1Mtpa integrated zinc producer, in the Q1 median of the global cost curve Lisheen Mine OVERVIEWIRELAND Skorpion Zinc (Skorpion), a part of VZI, is located 25 kilometres north of the town of Rosh Pinah in the //Karas region of Head office southern Namibia. NAMIBIA Skorpion With Black Mountain Zinc Mining and the new, Black Mountain Mining flagship Gamsberg mine Gamsberg project across the border in South Africa’s Northern Cape SOUTH AFRICA province, Skorpion is a key component of VZI’s vision for a Southern African zinc complex of international standing. PAGE 1 SKORPION ZINC: A JEWEL IN THE DESERT Skorpion is the largest integrated zinc producer in Africa and the 8th largest zinc mine in the world. It is a conventional open pit oxide mine where the zinc oxide is quarried and then passed through a complex refining and metallurgical process, producing special high grade (SHG) zinc. It is the only Zinc Refinery in Africa. RESERVE AND RESOURCE The current reserve and resource is 26Mt The Pit 112 expansion, currently under There are further prospects for Skorpion (3Mt zinc), giving a life of mine (LoM) way, has allowed Skorpion to continue Zinc to play an important role in VZI’s vision to 2020. mining beyond 2017. for a Southern African zinc complex. See The Pit 112 expansion on page 3 for See Looking ahead on page 3 for more more information. -
EUROZINC MINING CORPORATION TAKEOVER PROPOSAL for VEDANTA RESOURCES Plc
Private and Confidential August 28, 2006 EUROZINC MINING CORPORATION TAKEOVER PROPOSAL FOR VEDANTA RESOURCES plc TABLE OF CONTENTS Sl. No. Particulars Page No. I Market Data and Valuation Summary 1-1a II Key Financial and Operational Parameters at a Glance 2-5 III Basic Financial and Operational Data 6-8 IV Share Structure and Key Valuation Assumptions 9 V Background 10-11 VI Operations, Resources and Exploration 11-22 VII Industry Trend 23-34 VIII Peer Group Comparison Snapshots 35-42 IX Canada Base Metal Hot Deals 43-47 X EuroZinc and Lundin Merger Announcement 48-52 XI EuroZinc’s 2nd Qtr Management’s Discussion & Analysis (Jun 06) 53-63 APPENDICES I EuroZinc’s 2nd Qtr Financial Report (Jun 06) 1-13 II EuroZinc’s Consolidated Financial Statements (2005-04) 1-29 III Lundin’s 2nd Qtr Financial Report (Jun 06) 1-26 IV Lundin’s Financial Statements (2005-04) 1-57 Prepared By: Dr. S. S. Mohanty President & CEO SMART Intl. Holdings, Inc. Private & Confidential August 28, 2006 EUROZINC MINING CORPORATION MARKET DATA SUMMARY TSX (SYMBOL: EZM) AMEX (SYMBOL: EZM) CURRENT MARKET PRICE: (August 25, 52-Week High: 2006) CDN$ 3.49 /US$3.25 TSX: CDN$ 3.31 Low: AMEX: US$ 2.97 CDN$ 0.77/ US$1.05 STOCK RATING: MARKET OUTPERFORMER INDUSTRY OUTPERFORMER EZM VS. S&P TSX COMPOSITE EZM VS. S&P TSX CAPPED MATERIALS VALUATION SUMMARY MARKET MULTIPLE APPROACH (Based on 2007P) UNDERVALUED CAPM Assumptions: Cost of Capital: 8.8% MULTIPLE APPROACH 2 YEAR 2 YEAR 2 YEAR 2 YEAR FORWARD FORWARD FORWARD FORWARD P/E P/CF P/SALES EV/EBITDA (Industry (Industry (Industry -
Redstone Commodity Update Q3
Welcome to the Redstone Commodity Update 2020: Q3 Welcome to the Redstone Commodity Moves Update Q3 2020, another quarter in a year that has been strongly defined by the pandemic. Overall recruitment levels across the board are still down, although we have seen some pockets of hiring intent. There appears to be a general acknowledgement across all market segments that growth must still be encouraged and planned for, this has taken the form in some quite senior / structural moves. The types of hires witnessed tend to pre-empt more mid-junior levels hires within the same companies in following quarters, which leaves us predicting a stronger than expected finish to Q4 2020 and start to Q1 2021 than we had previously planned for coming out of Q2. The highest volume of moves tracked fell to the energy markets, notably, within power and gas and not within the traditional oil focused roles, overall, we are starting to see greater progress towards carbon neutrality targets. Banks such as ABN, BNP and SocGen have all reduced / pulled out providing commodity trade finance, we can expect competition for the acquiring of finance lines to heat up in the coming months until either new lenders step into the market or more traditional lenders swallow up much of the market. We must also be aware of the potential impact of the US elections on global trade as countries such as Great Britain and China (amongst others) await the outcome of the impending election. Many national trade strategies and corporate investment strategies will hinge on this result in a way that no previous election has. -
Most Environmentally and Socially Controversial Companies of 2010 Zurich, December 15, 2010 / Karen Reiner
Most Environmentally and Socially Controversial Companies of 2010 Zurich, December 15, 2010 / Karen Reiner According to the reputational risk radar RepRisk, the top ten most environmentally and socially controversial multinational companies in 2010 were: 1. Transocean Ltd 6. Chevron Corp 2. BP PLC 7. BG Group PLC 3. Vedanta Resources PLC 8. Royal Dutch Shell 4. ExxonMobil Corp 9. Sinar Mas Group 5. Foxconn Electronics Inc 10. Magyar Aluminium (MAL) Companies on the list have been severely criticized by the world’s media, governmental organizations and NGOs for issues including human rights abuses, severe environmental violations, impacts on local communities, corruption and bribery, as well as breaches of labor, and health and safety standards. Rankings are based on the Reputational Risk Index (RRI), as measured by RepRisk throughout 2010. The RRI is directly derived from the negative pr ess captured by RepRisk and its calculation is strictly rule-based. RepRisk does not measure a firm's overall reputation. Instead, by capturing criticism, RepRisk computes a firm's exposure to controversy and therefore provides an indicator for reputational risk. RepRisk is used by asset owners and asset managers, commercial and investment bankers, supply chain managers, and corporate responsibility experts. The Reputational Risk Index (RRI) ranges from zero (lowest) to 100 (highest) and its calculation is based on the reach of news sources, the frequency and timing of news, as well as its content, i.e. severity and novelty of the issues addressed. The RRI is an indicator of a company's exposure to controversial issues and allows an initial assessment of risks that are attached to investments and business relationships. -
Printmgr File
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the action you should take, you are recommended immediately to seek your own personal financial advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser authorised under the Financial Services and Markets Act 2000. If you have sold or otherwise transferred all of your shares in Cairn Energy PLC, you should pass this document, the accompanying form of proxy and the Annual Report and Accounts of Cairn Energy PLC for the financial year ended 31 December 2016 without delay to the stockbroker, bank or other person who arranged the sale or transfer so they can pass these documents to the person who now holds the shares. CAIRN ENERGY PLC (incorporated in Scotland with registered number SC226712) Notice of Annual General Meeting Proposed New Long Term Incentive Plan and Proposed renewal of authority to dispose of or reduce the Group’s residual interest in Cairn India This document should be read as a whole and in conjunction with the accompanying Form of Proxy. Your attention is drawn to the letter from the Chairman of Cairn which is set out in Part I of this document recommending, on behalf of the Directors, that you vote in favour of the resolutions to be proposed at the Annual General Meeting referred to below. Notice of the 2017 Annual General Meeting of Cairn to be held in the Castle Suite of The Caledonian, a Waldorf Astoria Hotel, Princes Street, Edinburgh EH1 2AB at 12.00 noon (BST) on Friday 19 May 2017, is set out at the end of this document. -
(Volcan) and Vedanta Resources Limit
Further Clarification in relation to the transaction with Volcan Volcan Investments Limited (Volcan) and Vedanta Resources Limited, the parent companies of Vedanta Limited, holding more than 50%, have played a significant role in shaping and building Vedanta Limited businesses in a visionary and entrepreneurial manner. Volcan owns a 21% stake (voting interest) in Anglo American Plc (AA Plc). AA Plc is a globally diversified mining business that comprises of De Beers (largest diamond producer), copper, platinum and other precious metals, iron ore, coal and nickel. Cairn India Holdings Limited (CIHL), an overseas subsidiary of the Company, was offered the opportunity by Volcan to invest some of its surplus cash resources in a structured investment representing the economic interest in upside potential of ~24.71 million shares (~1.8% of outstanding shares) of AA Plc. The structure provides significantly higher returns compared to other overseas cash management investments that would typically return around 2%. After careful consideration of the risk adjusted returns of this opportunity relative to other available investments, it elected to invest a portion (which is less than 5% of Group’s cash and cash equivalent of around US$5.0bn) of its available cash resources, as part of its cash management activity. The ownership of the underlying shares, and the associated voting interest, remains with Volcan. The investment now has full capital and downside protection to ensure that the interests of Vedanta Limited shareholders’ are protected. The investment was made on an arm’s length basis in December 2018, after meeting all governance requirements. The economic interest was valued by an independent valuer and approved by the boards of CIHL and Vedanta Ltd. -
VRPLC Results Presentation FY2019.Pdf
Cautionary Statement and Disclaimer The views expressed here may contain information derived from statement involves risk and uncertainties, and that, although we publicly available sources that have not been independently verified. believe that the assumption on which our forward-looking statements are based are reasonable, any of those assumptions No representation or warranty is made as to the accuracy, could prove to be inaccurate and, as a result, the forward-looking completeness, reasonableness or reliability of this information. Any statement based on those assumptions could be materially forward looking information in this presentation including, without incorrect. limitation, any tables, charts and/or graphs, has been prepared on the basis of a number of assumptions which may prove to be This presentation is not intended, and does not, constitute or form incorrect. This presentation should not be relied upon as a part of any offer, invitation or the solicitation of an offer to recommendation or forecast by Vedanta Resources plc and Vedanta purchase, otherwise acquire, subscribe for, sell or otherwise dispose Limited and any of their subsidiaries. Past performance of Vedanta of, any securities in Vedanta Resources plc and Vedanta Limited and Resources plc and Vedanta Limited and any of their subsidiaries any of their subsidiaries or undertakings or any other invitation or cannot be relied upon as a guide to future performance. inducement to engage in investment activities, nor shall this presentation (or any part of it) nor the fact of its distribution form This presentation contains 'forward-looking statements' – that is, the basis of, or be relied on in connection with, any contract or statements related to future, not past, events. -
Skorpion Zinc Refinery Sulphide Conversion Amendment to EIA Report
94 Mandela Avenue, Klein Windhoek, Namibia PO Box 81808, Windhoek, Namibia Tel: (+264) 61 248 614 Fax: (+264) 61 238 586 Web: www.gcs-na.biz Skorpion Zinc Refinery Sulphide Conversion Amendment to EIA Report Version – Final 25 August 2015 Skorpion Zinc (Pty) Ltd GCS Project Number: 14-756 Client Reference: Order Number - 4100019309 GCS (Pty) Ltd. Reg No: 2006/717 Est.2008 Offices: Durban Johannesburg Lusaka Ostrava Pretoria Windhoek www.gcs-na.biz Director: AC Johnstone Skorpion Zinc (Pty) Ltd Skorpion Zinc Sulphide Conversion Report Version – Final 25 August 2015 Skorpion Zinc (Pty) Ltd 14-756 DOCUMENT ISSUE STATUS Report Issue Final GCS Reference Number 14-756 Client Reference Order Number - 4100019309 Title Skorpion Zinc Refinery Sulphide Conversion AmendmentName to EIA Signature Date Author Eloise Carstens 28 July 2015 Document Reviewer Andrew Johnstone 28 July 2015 Director Andrew Johnstone 28 July 2015 LEGAL NOTICE This report or any proportion thereof and any associated documentation remain the property of GCS until the mandator effects payment of all fees and disbursements due to GCS in terms of the GCS Conditions of Contract and Project Acceptance Form. Notwithstanding the aforesaid, any reproduction, duplication, copying, adaptation, editing, change, disclosure, publication, distribution, incorporation, modification, lending, transfer, sending, delivering, serving or broadcasting must be authorised in writing by GCS. 14-756 25 August 2015 Page ii Skorpion Zinc (Pty) Ltd Skorpion Zinc Sulphide Conversion EXECUTIVE SUMMARY Skorpion Zinc life of mine will end in 2019. This will have an economic impact on both Rosh Pinah and the Namibian economy as a whole. In order to extend the life of the refinery and maintain the design production rate beyond 2019, Skorpion Zinc is planning to treat zinc sulphide concentrates in parallel to the oxide stream from 2017 to 2021. -
Vedanta Resources V Zambian State Mining Company ZCCM-IH: Does Anyone Win?
Vedanta Resources v Zambian State Mining Company ZCCM-IH: Does Anyone Win? Kluwer Arbitration Blog October 8, 2019 Sadaff Habib (Assistant Editor for Africa) (Beale & Company LLP) and Abdul Jinadu (Keating Chambers) Please refer to this post as:Sadaff Habib (Assistant Editor for Africa) and Abdul Jinadu, ‘Vedanta Resources v Zambian State Mining Company ZCCM-IH: Does Anyone Win?’, Kluwer Arbitration Blog, October 8 2019, http://arbitrationblog.kluwerarbitration.com/2019/10/08/vedanta-resources-v-zambi an-state-mining-company-zccm-ih-does-anyone-win/ With over $3 billion invested by Vedanta Resources in Zambia since it became a shareholder in Konkola Copper Mines (KCM) in 2004, it is a less optimistic turn of events with Vedanta Resources and fellow shareholder, the government-owned Zambian State Mining Company ZCCM-IH (ZCCM), being at loggerheads in arbitration. In this post, we examine what led to this downward spiral in relations and what this means for investors in the mining industry in Zambia. Why Arbitrate Against Zambia? On 21 May 2019, the Zambian government sought anex parte order from the Lusaka High Court in Zambia to appoint, Mr Milingo Lungu, as provisional liquidator of Konkola Copper Mines (KCM), one of the country’s biggest employers in the mining industry. KCM is majority-owned by Vedanta Resources (part-owner of the Mumbai listed Vedanta group of companies) and the Zambian State Mining Company ZCCM-IH (ZCCM) holds a roughly 20 percent stake. Why did Zambia take such a serious step against one of its most prominent investors? The Zambian government appears to have several grievances with Vedanta’s operations in Zambia. -
The Mineral Industry of Namibia in 2016
2016 Minerals Yearbook NAMIBIA [ADVANCE RELEASE] U.S. Department of the Interior February 2020 U.S. Geological Survey The Mineral Industry of Namibia By James J. Barry In 2016, the diamond sector continued to be a significant 16%, for Swakop Uranium; about 10%, for Rössing Uranium contributor to Namibia’s economy. In terms of the average Ltd.; and 9% each, for B2Gold Namibia (Pty) Ltd., De Beers value of diamond production in dollars per carat ($533), the Marine Namibia (Pty) Ltd. (Debmarine), and Skorpion Zinc and country ranked second in the world after Lesotho. In terms of Namzinc (Pty) Ltd. (Chamber of Mines of Namibia, 2017, p. 19, the total value of its rough diamond production ($915 million), 90–91). the country ranked fifth after South Africa. Namibia was ranked ninth in the world in terms of rough diamond production by Production weight (carats). Namibia’s total diamond exports were valued at In 2016, copper electrowon production increased by 54% about $1.1 billion (about 1.9 million carats of diamond) in 2016. to 16,391 metric tons (t) from 10,659 t in 2015, which was According to the World Nuclear Association, Namibia’s Rössing attributed to the Tschudi Mine reaching nameplate capacity Mine and Langer Heinrich Mine were capable of providing 10% of 17,000 metric tons per year (t/yr). Uranium production of the world’s uranium output; the Langer Heinrich Mine was increased by 22% to 3,654 t (uranium content) in 2016 from one of the leading producing uranium mines in the world. The 2,993 t in 2015. -
Southern Africa Human Rights Policies & Practices of Companies May 2020 Featured on the Transition Minerals Tracker
01 Southern Africa Human rights policies & practices of companies May 2020 featured on the Transition Minerals Tracker Background Regional distribution The Business & Human Rights Resource Centre conducted research of allegations on the human rights policies and allegations relating to companies mining cobalt, copper, lithium, manganese, nickel and zinc, minerals We collected 73 allegations from the Southern Africa that are crucial in the transition to low-carbon technologies (including Development Community, the majority of which came solar panels, wind turbines and electric vehicle batteries). Companies from DRC and Zambia. were selected if they were among the top 5 global producers of one of these minerals, or alternatively, if they were among the top 5 producers of one of these minerals in the Southern Africa Development Community.* The following findings relate to companies operating in the Southern Africa Development Community. Overall findings 39/73 DRC We tracked a total of 22 mining companies with operations in the Southern Africa Development Community. Out of these: 4/73 Madagascar 25/73 Zambia Have a publicly available Have human rights human rights policy allegiations against them 10 11 1/73 Namibia The number of companies had changed from 24 to 22 in this updated because of methodological changes in the way joint ventures are recorded. 1/73 South Africa 3/73 Zimbabwe * Tanzania is not included in this analysis THEMATIC DISTRIBUTION OF ALLEGATIONS Health Tax avoidance The issues most frequently raised against Deaths 8 mining companies in the Southern Africa 7 8 Development Community were related to Labour rights the environment, access to water, health, 3 tax avoidance and land rights. -
Announcement
Zambia Copper Investments Limited (Registered in Bermuda) JSE code: ZCI ISIN: BMG988431240 ("ZCI" or “the company”) THE INTRODUCTION OF A STRATEGIC EQUITY PARTNER FOR KONKOLA COPPER MINES PLC AND FURTHER CAUTIONARY ANNOUNCEMENT 1. Introduction Further to the cautionary announcements published over the period 16 May 2003 to 23 July 2004, Rand Merchant Bank (“RMB”) is authorised to announce that ZCI, the Government of the Republic of Zambia (“GRZ”), ZCCM Investments Holdings plc (“ZCCM- IH”), Konkola Copper Mines plc (“KCM”) and Vedanta Resources plc (“Vedanta”) (collectively, “the Parties”) have reached agreement on the terms of an investment by Vedanta into KCM (“the Vedanta investment”), subject to the fulfilment of certain conditions precedent set out in paragraph 4 below (“conditions precedent”). 2. Background and rationale for the Vedanta investment Concomitant with the exit of Anglo American plc from ZCI (and indirectly KCM) in September 2002, the KCM shareholders and GRZ embarked on a process to ensure the long-term sustainability of KCM. It was agreed that the introduction of a new strategic equity partner was the most appropriate route to follow to secure the future of KCM and to address two key issues, namely:: the provision of technical expertise and management experience; and funding support and financial stability for KCM. The introduction of a new strategic equity partner would therefore address the management and capital constraints of the business. A bid process was therefore initiated in October 2002 and bids were received in February 2003. After due consideration of the bids received, Vedanta was selected as the preferred bidder by the KCM board and endorsed by GRZ.