Vedanta Resources posts record iron ore output in Q3 FY 2009-10

On January 27, India-headquartered miner Vedanta Resources announced its production results for the third quarter of FY 2009-10, which ended on December 31, 2009, and for the first nine months of the fiscal year.
 
Accordingly, during the third quarter, the company achieved record iron ore production of 5.4 million wet metric tons (wmt), with an increase of 36 percent year on year, compared to 3.98 million wmt produced in the corresponding period of the previous fiscal year, due to the additional volumes from the Dempo acquisition in Goa.
 
In addition, Vedanta Resources' iron ore sales during the same period increased 25 percent year on year, reaching 6.79 million wmt.
 
In the given period, the company registered revenue of $389.3 million from its iron ore sales, with a year on year increase of 40.3 percent, while its EBITDA in the iron ore segment totaled $216.1 million, climbing by 151.9 percent compared to Q3 FY 2008-09.
 
In the first nine months of the current fiscal year, Vedanta Resources produced 13.6 million wmt of iron ore, increasing by 25.5 percent, registered revenue of $705.5 million from iron ore sales, down 9.6 percent, and recorded EBITDA of $346.5 million, down 15.2 percent, all compared to the corresponding period of the previous fiscal year.