Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
State-owned Indian Rare Earths Ltd. (IREL) has applied for approval from the Odisha (Orissa) state government for a rare earth exploration permit on a 2,500ha coastal land package at Bramhagiri in Puri district.
The Atomic Minerals Directorate for Exploration and Research (Amder) which falls under India’s Department for Atomic Energy, has conducted surveys that show large deposits of rare earths in the area according to ” target=”_blank”>a Business Standard report:
The identified area is the second coastal stretch in Odisha, where deposits of rare earth minerals have been found. IREL is already harnessing rare earth deposits over 24.64 sq. km area near Chhatrapur in Ganjam district through its subsidiary Odisha Sands Complex (OSCOM).
