Vedanta shares drop after government orders plant to be closed

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Vedanta shares drop after government orders plant to be closed

Miner Vedanta Resources (LON:VED) has been ordered by the Government of Tamil Nadu to seal and permanently close its Tuticorin copper smelter. The government has also withdrawn the allocation of 342 acres of land for the extension of the facility. The company has struggled over the last month after local protests against the expansion turned deadly and 13 people were killed by security forces.

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The company had previously said that it would legally challenge any closure order, but today commented that it would study the order and decide on a course of action. Shares in Vedanta had fallen by 8p to 720.20p at 14:30 BST.

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