Vedanta will have to Cease Bauxite Mining: Government

NEW DELHI, INDIA (GaeaTimes.com) — London listed mining firm Vedanta resources are not given permission for bauxite mining in Orissa. A government panel has taken up this decision in order to protect the rights of two primitive tribal groups.

Vedanta Resources declared today that they will acquire 51% to 60% stake in Cairn India, oil field company for $9.6 billion. This acquisition of Vedanta is raising mixed reactions among the panel of authorities. Some are saying that the deal is interesting but some are seeing it as not so fair deal. Vedanta will be under a lot of pressure after this deal.

Vedanta firm is strictly forbidden not to carry bauxite mining in Orissa as it will put the lives of the tribal groups at stake. The government panel has raised the voice against it because such an action will shake the faith of the tribal people in the law of the land.