Indian miner Vedanta Resources is reportedly considering merging India-based iron ore miner Sesa Goa with India's largest copper and aluminum producer Sterlite Industries, according to media reports. At the end of December 2011, Vedanta owned 53.3 percent of Sterlite Industries and 55.1 percent of Sesa Goa.
If the group proceeds with the restructuring plan, it will create a metals and mining company with the third biggest profit in the private sector in India. Vedanta's shares increased by seven percent upon the merger speculation.
Vedanta said that it aims to simplify and consolidate its corporate structure and is currently considering its options. The company stated that it will make an announcement later accordingly.