BackTimeline | Vedanta mine imbroglio
Timeline | Vedanta mine imbroglio
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Union environment minister Jairam Ramesh on Tuesday rejected a plan by India-focused mining group Vedanta Resources Plc to mine bauxite in Orissa.
Vedanta’s project is valued at about Rs45,000 crore ($9.6 billion).
The company is already facing regulatory hurdles in its bid for control of Cairn India.
The following is a chronology of how the mining crisis began and the journey so far:
24 August 2010 | After five long years of court hearings, violent public protests, Centre-state wrangling and media coverage, the government denied permission for bauxite mining at Niyamgiri in Orissa, settling the dispute in favour of the tribe that’s indigenous to the area. Read story
Edit | A rule, not an exception
23 August 2010 | Orissa chief minister naveen Patnaik met Prime Minister Manmohan Singh and raised concerns over the delay in environment clearances to projects like the Posco steel project and Vedanta bauxite mining initiative. Read story
17 August 2010 | $9.6 billion deal requires approval from government; ONGC has not raised concerns on the deal yet, says oil secretary; ONGC will continue to remain a partner assured Vendanta chairman; Cairn India edge up, Cairn Energy shares dip. Read story
Quick Edit | Defying logic
16 August 2010| Allowing Vedanta mining in the proposed area in Orissa by depriving tribals of their rights may have serious consequences, the government panel said. Read story
Mark to Market Column| Vedanta goes down the beaten path
Vedanta and Sterlite Industries Ltd’s share prices fell while Cairn’s gained. Read story
13 August 2010 | Deal likely to be announced by Monday, says source; Cairn India shares up 4.8%; Vedanta down 6.8%; deal will need India govt approval, says petroleum secretary. Read story
02 July 2010 | Ministers to meet 22 July on mining law
Plan aims for 26% equity for affected people; Bill to face several panels before reaching parliament; analyst feel that proposal too big, may put off miners. Read story
30 June 2010 | A new panel would investigate the “specific impact on the livelihood, culture and material welfare" of a local tribal group in Orissa. Read story
24 June 2010 | The minister wants to protect and expand India’s remaining forest land as part of a strategy to fight climate change, but that could mean giving up mining about a quarter of the country’s mineral reserves. Read story
16 March 2010 | Vedanta wants to mine bauxite for its alumina refinery in Orissa, but the project, bogged down since 2005, is opposed by tribes people who fear losing their homes and livelihood. Read story
14 march 2010 | In two separate letters to officials of the Union ministry of environment and forests, Orissa’s forest and environment department special secretary B P Singh said the proposed mining by Vedanta Resources jointly with Orissa Mining Corporation is not in violation of ‘any Act’. Read story
22 February 2010 | Bigger compensation could boost govt’s rural support base; mines minister not in favour of iron ore export duty hike; large mines may see costs up but quick start to projects. Read story
Edit | The minefields of OrissaOur View
09 February 2010 | Amnesty calls for halt to Vedanta’s mine plans
The government should not allow the mining to go ahead until the 8,000-strong Dongria Kondh give their permission. Read story
09 February 2010 | Amnesty rejected our offer for engagement: Vedanta
The Amnesty report had alleged that Alumina mining in Orissa by Vedanta has affected the communities living around and led to violations of human rights. Read story
03 February 2010 | Sterlite’s project may face another setback
The documents highlight the inadequacies of the process by which industrial projects are given clearance. Read story
12 November 2009 | While some say that the amendments would not have been beneficial for the environment, others claim that continuing the clearance process for such projects will deter India from achieving its 10% economic growth target. Read story
Root Cause Column | Facing local protests: where Vedanta’s erring
Vedanta would do well to pay attention to protests. It bought Mitsui and Co.’s majority stake in Sesa Goa Ltd, a major iron ore extractor and exporter, in 2007. Click here to read full column
14 July 2009 | Anil Agarwal, chairman, Vedanta Resources Plc. talks about his outlook on commodities and his strategy for mergers and acquisitions. Read story
10 July 2009 | The start of the mining to feed the alumina refinery in Orissa has been delayed for at least four years by protests from indigenous people, who consider the area that will be mined as sacred ground. Read story
27 June 2009 | The ministry of environment and forests would like to see a higher rejection rate in environmental and forest clearances, said Jairam Ramesh, who holds independent charge of the ministry. Read story
12 June 2009 | The NRI billionaire Anil Agarwal-led firm has launched the $1 billion convertible bond issue due 2016 and said its size could be further increased by up to $250 million. Read story
05 June 2009 | The company is in dialogue with a syndicate of banks to arrange the debt, which would be used for expanding its aluminium production capacity in Orissa. Read story
09 March 2009 | Vedanta Resources has lined up a whopping Rs70,000 crore investment in its aluminium, copper, zinc and iron ore businesses in India by 2011-12. Read story
03 March 2009 | The metal and mining major saw prices of all its major products dip by about 60% in the past six months due to the slackening demand amid the global industrial downturn. Read story
25 September 2008 | Vedanta, which says it will consider going ahead with attempts to “simplify" the structure of the group at a more conducive time, has all along maintained that the restructuring is neutral to all shareholders. Read story
08 August 2008 | The Supreme Court has finally gave approval for Sterlite Industries (India) Ltd and Posco-India Pvt. Ltd to start projects delayed over protests and land disputes in Orissa. Read story
Anil Agarwal | Wheels of fortune
From the Patna lad who left school at 15 to founder, chairman and majority stakeholder of the $10 billion conglomerate Vedanta Resources, Agarwal has travelled a long way. Click here to read full article
26 October 2007 | SC nears decision on Vedanta mine
Tribals say the mine will destroy hills they consider sacred, force them from their homes and destroy their livelihoods. Read story
09 September 2007 | British mining giant Vedanta Resources faces fresh delays in its battle to mine an Indian forest considered sacred by tribals after the nation’s top court ordered a sweeping impact study. Vedanta Resources Plc’s legal fight to mine the area is being seen in India as a test case, pitting industrial development interests against those of indigenous peoples and the environment. Read story
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