India’s Vedanta establishes copper unit in Saudi Arabia ‎

The Indian mining company “Vedanta” announced the establishment of a new copper unit in the Kingdom of Saudi Arabia through its subsidiary Malco for 1,00,000 Saudi riyals.

The company said in a filing to the stock exchange, according to the Money Control newspaper, that the new unit was named Vedanta Copper International VCI.

Vedanta’s board of directors had approved a plan to divide the business into six separate listed entities last September.

It is worth noting that Vedanta Limited is an Indian multinational mining company with its headquarters in Mumbai, and its main operations are in iron ore, gold and aluminum mines in Goa, Karnataka, Rajasthan and Odisha.