Vedanta Limited Iron & Steel sector has ventured into International Iron ore mining operations in Liberia, West Africa through its subsidiary Western Custer Liberia with the Ground-breaking ceremony that was held at the Bomi iron ore mine on June 08, 2022.
WCL is a wholly owned subsidiary of Bloom Fountain Limited (‘BFL’) which is in turn a wholly owned subsidiary of Vedanta Limited. WCL had signed a Mineral Development Agreement with the Government of Liberia (‘GoL’) for three Iron Ore Mining concessions in Liberia namely Bomi, Bea, and Mano in 2011.
However, the operations could not be started due to outbreak of Ebola epidemic. WCL is set to restart its operation in a much bigger way with further expansion potential through exploration, said company in a regulatory filing.
At around 10:17 AM, Vedanta was trading at Rs291.30 apiece down by Rs9.9 or 3.29% from its previous closing of Rs301.20 apiece on the BSE.