Report Indicts Vedanta Resources for Flagrant Human Rights, Environmental Violations  

Counter Report Challenges Vedanta at August 3 London Shareholders Meeting

For Immediate Release
August 3, 2005
Roger Moody +44 20 7700 6189 (UK) E: partizans@gn.apc.org
Samendra Das +91 94373 81331 (India)
Amit Srivastava +91 98103 46161 (India) E: info@IndiaResource.org

New Delhi (August 3, 2005): A new report published today, Ravages through India, highlights the egregious violations of human rights, environment and the law by Vedanta Resources plc, a publicly traded metals and mining company on the London Stock Exchange.

The report, published by the US-based India Resource Center and the UK-based Nostromo Research, comes on the day of Vedanta Resources' shareholder meeting in London on August 3, 2005.

Maintaining that the international media has been largely silent on the mining company's flagrant violations, the report is supported by "a large group of concerned organizations and individuals, including minority shareholders, community representatives, workers, environmental, human rights and worker's rights campaigners, who are determined that this veil of silence should be lifted."

Although a global corporation, Vedanta Resource's primary metal and mining operations are in India. The company is India's biggest producer of zinc, its second largest producer of copper, and number three in aluminium.

The report documents the forced displacement of communities, flagrant violations of environmental laws, land grabs, shady financial dealings, public health crisis and worker's rights abuses - all part of Vedanta Resources' practices in India.

The company is principally owned by Mr. Anil Agarwal and his family, a non resident Indian residing in the UK.

Vedanta Resources (and its subsidiaries) is the target of various human rights and environmental campaigns in India, from Orissa to Chattisgarh to Tamil Nadu. Its subsidiaries include Bharat Aluminum Company (BALCO), Madras Aluminium Company (MALCO) and Vedanta Alumina.

"Our hope and expectation is that those who brought this dubious company to the market - such as the J P Morgan investment bank, which recently announced an "ethical policy," and ABN AMRO which purports to have one already in place - will revise their assessment of Vedanta as a company with which conscientious investors can continue to do business."

The report can be downloaded from www.IndiaResource.org


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