He said that the company will resume mining even though the global iron ore price are on free-fall. The iron ore industry in the state has been closed since 2012 after a Supreme Court order. The ban was lifted in 2014 but operations are yet to resume.

Agarwal also told the shareholders that the company will be shifting its registered office from Goa to Mumbai. "As a global resource company we are now in the process of shifting the registered office to Mumbai. This is a natural shift of location as the company has a large shareholder base of over 3.5 lakh based out of Mumbai," Agarwal added.

He stated the shifting of its base to Mumbai will have no impact on Vedanta's association with the coastal state. "As an organisation we have strong moorings in Goa and a close community connect with the presence of our Sesa Goa iron ore business. This warm relationship will continue as before and this shift will have no impact on our long-standing association and presence in the state," Agarwal said.

Latest News  from Business News Desk