Sesa Goa buys V S Dempo Mining Corp for Rs 1750 cr

>> Thursday, June 11, 2009

Sesa Goa, the country’s largest private iron ore exporter, has bought Goa-based V S Dempo Mining Corporation for Rs 1750 crore.

A part of London-listed Vedanta Resources, Sesa Goa will fund the transaction through internal accruals. Sesa Goa has reserves of Rs 4,000 crore.

Dempo has 19 mining leases spread over 1800 hectares in Goa. Its total reserve is estimated to be 70 million tonne. Last year, it extracted 4 million tonne of iron ore. - ET