The company had warned last week that operations at the open pit mine would be affected by the strike, as fuel and consumables failed to be delivered to site, while road blocks on highways prevented sending output to port.
Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.
A combination of bad news across its operating industries has made Vedanta one of the biggest losers this year among the 10-member S&P BSE India Metal Index.
Deadly protests last week over alleged pollution from the Tuticorin smelter have prolonged a shutdown of the 400,000 tonnes-a-year operation. This time it seems to be forever.
In late April, Millbrook Minerals became the first copper-zinc explorer to sign an International Economic Association (IEA) contract with Cuba's GeoMinera, becoming the first Canadian firm to sign a deal with the Island since the mid 90’s.