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Stock impact report

Court expected to reopen Vedanta copper smelter but appeal likely - sources [Reuters]

Vedanta Limited American Depositary Shares (Each representing four equity shares) (VEDL) 
Company Research Source: Reuters
Court expected to reopen Vedanta copper smelter but appeal likely - sources | Reuters 3 Min Read THOOTHUKUDI, India (Reuters) - An Indian court is expected on Friday to follow an experts’ panel recommendation and order the reopening of a copper smelter closed after 13 people died when police fired on environmental protesters in May, two sources familiar with the matter said. However, the Vedanta Ltd plant in southern India is unlikely to resume production anytime soon because the Tamil Nadu state government will likely appeal to India’s Supreme Court, the sources said. State authorities permanently shut down the smelter after police fired on protesters calling for the closure of the plant in the town of Thoothukudi in May. But a panel of experts set up by the National Green Tribunal, the environmental court, said last week authorities in Tamil Nadu state had failed to comply with procedures before shutting down the smelter. The panel also said the grounds for a permanent closure were Show less Read more
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