Vedanta Resources PLC (VED.L)
27 Feb 2015
- Vedanta Resources Plc, hit by weaker commodity prices, said it planned "hundreds of millions of dollars" in capital spending cuts and deferrals, while looking at a "deep restructuring" of its struggling Zambian copper business.
* Plans "hundreds of millions of dollars" in capex cuts, deferrals
* CEO Tom Albanese - "looking at capex reductions or deferrals in multiples of hundreds of millions of dollars"
Jan 30 - Vedanta Resources Plc's third-quarter core earnings fell 11 percent and the mining conglomerate said it was reviewing its operating and capital spending plans across its businesses.
Nov 13 - Vedanta Resources Plc reported a 5 percent fall in first-half core earnings due to lower production and higher costs at its oil and gas and Zambian copper businesses, where the company said it was continuing to face challenges.
Nov 13 - Vedanta Resources Plc reported a 5 percent fall in first-half core earnings due to lower production and higher costs at its oil and gas and Zambian copper businesses.
Reuters Market Eye - Sesa Sterlite falls 5 percent and Hindustan Zinc loses 3.8 percent.
* Sesa Sterlite falls 2.9 percent and Hindustan Zinc slips 2 percent. * Stocks track slump in parent Vedanta Resources Plc's shares, dealers say. * Vedanta shares fall 8 percent after reporting lower quarterly output at its oil and gas, zinc and Zambian copper businesses. (email@example.com / firstname.lastname@example.org)
* Oil & gas: rajasthan production normalised after successful completion of planned maintenance shut down at mangala processing terminal
* Vedanta CEO says export tax an "economic barrier to mining"