(Reuters) - Diversified miner Vedanta Resources Plc (VED.L) said it expects production at its Indian zinc unit to be significantly higher in the second half of the financial year ending March 31, 2017 compared with the first half.
Zinc India’s mined metal production was 318,000 tonnes in the first half ended Sept. 30, 2016, down about 33 percent on year due to lower production from the Rampura Agucha mine in the northwestern state of Rajasthan, Vedanta said.
The company’s shares rose as much as 2.5 percent, before paring gains to trade up about 1.1 percent at 0716 GMT on the London Stock Exchange.
Vedanta said it expected to complete the takeover of oil and gas explorer Cairn India Ltd (CAIL.NS) in the first quarter of calendar year 2017.
Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri