• Most Popular
  • Most Shared

Sesa Goa sees FY10 iron ore output 22.75 mln T-MD

Thu Jun 11, 2009 11:02pm EDT

Stocks

   

MUMBAI, June 12 (Reuters) - Indian miner Sesa Goa (SESA.BO) hopes to raise iron ore output by more than half to 22.75 million tonnes in 2009/10, helped in part by the acquisition of assets from a small rival, its managing director said on Friday.

"Last year, we had a production of 15 million tonnes. This year, we are likely to have volume growth of 25 percent. Plus, you could add 4 million tonnes (from the acquisition)," P.K. Mukherjee told Reuters over the telephone.

Sesa, a subsidiary of London listed metal and mining group Vedanta Resources (VED.L), said late on Thursday it acquired the mining assets of Dempo Group in the western state of Goa for 17.5 billion rupees ($368 million) to boost its output of iron ore. [ID:nBOM345267] (Reporting by Ruchira Singh; Editing by Ranjit Gangadharan)



More from Reuters

Photo

Obama reaches climate deal with emerging powers

COPENHAGEN (Reuters) - President Barack Obama forged a climate deal with emerging economic powers on Friday, breaking a deadlock at U.N.-led talks, but said the world still had "much further to go" in the fight against global warming. | Video

A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

Two men shake hands in a file photo.    REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article