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CASE STUDIES

BACK TO FARMING

Agriculture is considered to be the backbone of the Indian Economy. But today it is suffering due to various reasons, such as high input costs, low
returns, shortage of skilled manpower, lack of interest in farming and inclination towards white -collar jobs. Agriculture in the state of Goa too is passing
through the same turmoil. In the vicinity of SESA Goa's mining operations as well, lots of paddy fields were left barren for years and villagers were
discouraged from farming.
SESA's CSR group came up with a program called 'Back to Farming'. The main purpose was to assist the farming community in all possible manners,
enabling them to resort back to their traditional means of livelihood (i.e. agriculture) and to promote sustainable agricultural livelihood. This project was
launched in Wagona a hamlet of Kirlapal-Dabal Panchayat in the year 2005-06. Awareness programs and meetings of farmers and village panchayat
members were organized. Officers of Zonal Agriculture Departments provided guidance on the best agricultural practices, improved technologies,
hybrid seeds, proper application of fertilizers etc. Necessary farming materials like paddy seeds, organic manure, chemical fertilizers, irrigation
facilities, fencing of fields etc. were distributed to farmers free of cost. The program helped farmers with getting Government subsidies for ploughing
their fields by tractors and SESA contributed the remaining cost. The initiative also took care of the repairing of sluice gates, bandharas, bundhs etc.
About 9ha of agricultural land was revived through this program, benefitting about 70 farmer families. The sown seeds have grown to give a lush green
look owing to the efforts of the farmers and the assistance of SESA. This was a great achievement for the company as well as for the farmers of
Wagona village, setting an example for other villages. Getting inspired by this, the farmers Associations of Cudnem & Navelim villages too approached
SESA for similar assistance. The fields of these farmers were in a similar situation; hence SESA replicated the 'back to farming' program to benefit
these villages as well

Sesa Goa
BSE: 500295 | NSE: SESAGOA | ISIN: INE205A01025 | Mining/Minerals
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Company History - Sesa Goa
YEAR EVENTS
1954
-Baron Ludovic Toeplitz lands in Goa. With the financial backing of
an enterprising Italian, Alessandro, he acquires the Orosso Dongor
Mining Concession in North Goa and starts a Company called Scambi
Economici S.A. Goa

1955
-The Company renamed Sesa Goa Limitada is bought over jointly by
Gewerkeshaft Exploration e Bergbau represented by Eugene Plotzki and
by Ferromin S.p.A. of Italy ( a subsidiary of Finsider S.p.A. of the
IRI Group) represented by Paolo Tradardi, both parties having equal
shareholding

1957
-Another company started in Goa, Mingoa Sociedade Minieral Goesa
S.a.r.l. is incorporated with Fiat of Torino as the principal
shareholder.

1963
-Finsider S.p.A. acquires the West German interest in Sesa Goa
Limitada and also all the shares of Mingoa.

1965 - With the application of the Companies Act 1956, to Goa, it
was
incorporated under the Act on 25th June, as a Private
Limited
Company under the name Sesa Goa Pvt. Ltd. It was wholly
owned
subsidiary of Istututo per la Recostruzion Industriale,
an
Italian Govt. controlled company.

1978 - 14,000 Bonus shares issued in prop. 2:3.

1979 - In April, another wholly owned subsidiary of Finsider S.P.A.,

Italy was also engaged in the mining and export of iron
ore.
Mingoa Pvt. Ltd., was amalgamated with the company. As
per the
Scheme of Amalgamation, 38,500 No. of equity shares of Rs
500
each were allotted to Finsider S.P.A., Italy without
payment in
cash.

1981 - The Company was converted into a public limited company on
25th
March.

- During November, Finsider S.P.A., Italy offered for sale
out of
its holding in the Company 22,05,000 No. of equity
shares of Rs
10 each at a premium of Rs 2.50 per share in the
following
manner: (i) 1,83,750 shares reserved for firm allotment
to public
financial institutions, (ii) 1,83,750 shares reserved
for firm
allotment to the business associates and employees of
the Company
and (iii) 18,37,500 shares to the public.

1984 - A beneficiation plant with a throughput capacity of 15 lakhs
tonnes was being set up in two stages to improve the
quality and
marketability of the ore.

1986 - The first phase of the beneficiation plant and with a
capacity
of 7.5 lakh tonnes per year, was commissioned in
January.

- The Company decided to enter a new area of activity of
information systems and services in collaboration with
STET, the
financial holding for electronics in the IRI Group.

- 14,70,000 Bonus shares issued in prop. 2:5.

1987 - The ship building division suffered a setback due to labour
problems with subcontractors resulting in delay in the
completion
of some of the vessels.

- The Ship building division proposed to carry out a
programme of
phased investment to upgrade the shipyard's
technological
capability as also to increase its capacity.

- The Company obtained initial registration for the

270-12. .48. was received for technology agreement for manufacture of a sophisticated fishing trawler based on drawings from a Norwegian Company and Technical collaboration with Fincantieri of Italy.870 debentures offered to the employees of the Company (all were taken up).Sesa Seat Information Systems Pvt. Ltd.Approval from Govt.A biotech pilot plant was set up in the mines for the treatment of tailing waste with micro organisms which feed on the mangniferous clay.000 tonnes per year of low phosphorus pig iron at Amona near Sanquelim in Goa.400 debentures were offered to the equity shareholders on rights basis in the ratio of 1 debenture: 5 equity shares (all were taken up) and 30.000 tonnes of low phos pig iron at Navelim near Sanquelim in Goa. 1988 . .17.. the Company ceased to be a subsidiary of the company. 1989 .5% secured partly convertible debentures of Rs 110 each. the Company issued 6. particularly the fishing of marine propellers. 1990 . Effective 29th March. . . 1993.manufacture of 60. 6. member of the IRI group was entered into for the technological upgradation of the shipyard.50.The Company laid the foundation stone of the project to manufacture 1. was incorporated in January.On 11th January.Along with indigenous stern gear. as a subsidiary of the Company.The Company obtained the necessary pollution clearance for the project and a final technological evaluation of the project was undertaken to maximise operational efficiencies in future. a separator tank capable of efficiently recovering iron ore fines from cyclone under-flows was developed. Of these. .

.64.73.. A new Company in the name of Sesa Industries Ltd. .. . .220 No.80.50 per share) to the shareholders of Sesa Goa Ltd. 1992.The Sesa Industries Ltd. Kembla Coal & Coke Pvt.360 No.900 bonus shares allotted in prop.000 TPA of pig iron... Australia set up Sesa Kembla Coke Co.A. Ltd. Rs 12. of .Two 2500 tonnes barges and ten small steel boats were delivered by the shipbuilding division.. .12. Rs 20 per share) in conversion of debs..With a view to manufacturing indigenous coke. at a premium of Rs 20 per share on 1st February. of equity shares (prem. Another 8. Pvt.05. 1993 . 1992 . was set up for implementing expansion and diversification plans in the steel related areas. Ltd. Australia is to participate to the extent of 40% in the share capital of the new venture through its subsidiary Kembla Goa holdings Ltd. 1991 . 32.The pig iron plant was commissioned.96. the Company in collaboration with Kembla Coal & Coke Pvt. 7th and 8th year respectively from the date of allotment. Luxembourg to maintain their equity stake in this company at the existing level. of equity shares allotted (prem.The convertible portion of Rs 60 per debenture was converted into 2 equity shares of Rs 10 each. Ltd. It was proposed to make a preferential issue of its equity shares (prem.540 No. Rs 20 per share) allotted to Finalder international S. 1:1.The amount of Rs 50 representing the non-convertible portion will be redeemed in 3 instalments of Rs 15. set up a second pig iron plant with a capacity of 90. Rs 15 and Rs 20 at the expiry of the 6th. in the ratio of 1:2.

44.2. . Sesa Shipping Ltd. to maintain their stake at 51%. with Sesa Goa Ltd. . . November. . with two Mitsui directors now on the board. 1:10 prem. Ltd. a subsidiary of Sesa Goa. . Rs 90).Second blast furnace was commissioned in the pig iron plant of Sesa Industries. Sesa Industries Ltd. it has become a subsidiary of Mitsui.17.525 shares kept in abeyance issued. equity shares (prem. is a subsidiary of the Company. . 1994 . .During 7th.Appropriate agreement was been reached whereby shares of Australian collaborators were taken over by the company making Sesa Kembla Coke Company a 100% subsidiary. there was an amalgamation of the 100% subsidiary. is learnt to be all set to acquire the entire equity holding of its Australian collaborator. in Sesa Kembla Coke Company Ltd (SKCCL). an Australian company.898 shares issued kept in abeyance in the rights issue.613 shares were kept in abeyance.89.The company. Mauritius.Sesa Goa Ltd. . 1997 . 1995 . Of these 47. Kembla Goa Holdings Ltd.200 rights shares issued (prop.8 lac tonnes of pig iron through a subsidiary and producers metallurgical coke through a joint venture with Kembla Coal and Coke. 1996 .The Company owns 21 mining concessions. These mining concessions were granted to the Company under the Portuguese Law according to which they are to run in perpetuity so long as the terms of the concessions are complied with.The Company installed a plant for the recovery of pellet feed from the tailings through high intensity magnetic separating process at Codli Mines. Rs 50) allotted to Finalder International Co.The company manufacturers 1.

1998 . -Iron ore sales crosses 8. 2003 -The Board of Directors of Sesa Goa Ltd at its meeting held today (January 29. 2000 . . a 100% subsidiary of Sesa Goa Limited. . -Sesa Industries and Sesa Kembla sign an agreement with M/s Goa Energy Private Limited. a subsidiary of Fiat. to set up a 30MW Power plant at Amona. being set up here. as Managing Director of the company wef April 01. 2003) has appointed Mr Leonard Anthony Dean. 2002.Sesa would also be supplying hot metal to the proposed Teksid plant. -Sesa Goa's Shipbuilding Division builds its 62nd vessel. to shield itself from any price increase or variation in the quality of iron ore. -Receives Iron ore supply order from Pakistan Steel Mills for next 5 years. to manufacture fishing transfers. .The Company has closed down its Engineering Unit at Sirsaim and its workshop at Sanquelim with effect from September 19. 1999 .Sesa Goa is entered into a technical collaboration with Vaagen Verft. 2004 -Sesa Group completes 50 years of operations. a part of Videocon Group. -First sale of Sesa Kembla technology effected. is merged with Sesa Goa Limited with effect from 1 April . Norway.The company has acquired Narrain Mines. Karnataka.The company has introduced Voluntary Retirement Scheme during the year to restructure the organisation. 2002 -Sesa Goa Ltd informs that the Board of Directors of the Company have accepted the withdrawal of nomination of Dr K S Subramanian as Director by ICICI Ltd and Mr K R V Subramanian has been appointed as an Additional Director of the Company w e f May 22. -Compact charging system for coke plant is being commissioned.5 million MT. a 2200T barge for its own fleet. 2003 in place of C M Brown whose term expires on March 31. 2003. -Sesa Kembla Coke Comany Limited.Sesa Goa became part of the Mitsui family after the latter took over Finsider International of Italy a couple of years ago.

Vedanta Resources plc.07. Private Limited. 2008 -Iron ore sales rise to 12. 2005 -Sesa Goa issues bonus shares to its shareholders. 2007 . listed on the London Stock Exchange acquires 51% controlling stake in Sesa Goa Limited from Mitsui & Co. -Sesa Group declares a final dividend of 200% in addition to an interim dividend of 50% on the pre-bonus share capital.87 million tonnes in 2006 . -Forbes Asia ranks Sesa Goa as one of Asia's 200 companies with sales than 1 billion US $ in its Best Under A Billion study.39 million tonnes in 2007 . -The Company has issued Bonus Shares in the Ratio of 1:1.07. -Sesa Industries Limited is ranked 8th Best transitioning medium enterprises in a study conducted by Citigroup and IMA India.2004. 2006 -Dun & Bradstreet ranks Sesa Goa as the 4th best in the Indian Mining Sector among India's top 500 companies. -Iron ore sales crossed 9. . along with its 100% equity shares of Dempo Mining Corporation Pvt.The Company has splits its face value from Rs10/. a diversified metals and mining group.to Rs1/-.08. Ltd.07 and declares a dividend of 400%. -Iron ore sales rise to 10. . -Sesa Group records its highest profit in 2006 . 2009 -Sesa Goa Limited and Dempo Group have signed a definitive Share Purchase Agreement under which Sesa has acquired all the outstanding common shares of VS Dempo & Co.87 million tonnes in 2006 .8 million tonnes.Iron ore sales rise to 10. . Ltd and 50% equity shares of Goa Maritime Private Limited.

.english banks français español 中国版 home publications loading. login members search loading... 2010 .... active file ongoing campaign effort last update: Sep 19. companies loading.. about banktrack focus contact us loading.. mailing list dodgy deals follow us on: loading...

India location new location saved Top of Form 15.further resources documents links pictures videos location contact bank comment external news print Mining in Goa/ Sesa Goa .685848499787 save location Bottom of Form .

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2008. Sesa Goa also has other mining sites in villages such as Pissurlem in Sattari and Advalpal in Assonora. Local communities and civil society groups have raised serious concerns about the impacts of mining in Goa. Open cast iron ore.Advalpal villagers protest against Sesa Goa mining company in front of the Company headquarters in Goa's Capital city of Panjim. Sesa Goa is also mining in Karnataka and Orissa. fisheries losses. Read more. water pollution and scarcity. Since 2007 Vedanta Resources is the majority shareholder of Sesa Goa. and more. human right problems. destruction of agricultural fields. atmospheric dust. June 4. sector mining description Sesa Goa is the largest iron ore producer and exporter of Goa. Besides mining activities in Goa. current status (Oct 07. including air pollution. Sesa Goa's main mining operations are at Codli and Sonshi. 2009) Sirigaon Litigation In June 2008 Sirigaon village residents filed a petition to the Bombay High Court claiming . manganese and bauxite mining in Goa causes major social and environmental threats.

restore the damaged rice fields and stabilise mine waste”. likely in October 2009. It recommended that the companies (among others Sesa Goa) should “replenish the aquifier. These actions are estimated to cost $1. The Bombay High Court ordered an independent government body to investigate the case (National Environmental Engineering Research Institute). 2009 the High Court of Bombay (interim order) restrained Sesa Goa from undertaking Phase I and II mining in Advalpal. Read more. On September 17. The petitioners alleged that Sesa Goa was indulging in hazardous mining in violation of the approved mining plan.4 million over 18 months.dried up well and siltation as a result of the mining activities. In 2009 a report from this government body confirmed the depletion of water supplies and the land situation. Read more. Advalpal Litigation In 2009 a public interest litigation was filed by a nine-year-old child of Advalpal village through his mother Sharmila Naik together with the Goa Foundation. companies involved companies Sesa Goa Limited . The Court ordered Sesa Goa to write a proposal for removing illegal mining dumps in Advalpal before the next hearing.

Sesa Goa Limited earlier was an Italian company. 2000 • Encroachment by Sesa Goa onto School land Land Acquisition Act.profile Sesa Goa Limited. 1981 • Noise pollution The Noise Pollution (Regulation and Controls) Rules. 1974 Environmental Protection Act. is the flagship company of Sesa Group. 1980 financial institutions involved . 1984 Forest (Conservation) Act. in the mid 1990s it was taken over by the Japanese company Mitsui and in 2007 Vedanta acquired a majority share of Sesa Goa. 1988 The Mines and Minerals Act. dodgy aspects Potential legal violations • Contamination of groundwater and river water Water act.Sesa Group Vedanta Resources . 1986 The Mineral Conservation and Development Rules. 1957 • Contamination of air quality with dust and chemical pollutants Air Act.

8 million (August 2008) BayernLB • corporate loan: $ 25 million (August 2008) BNP Paribas .profile • corporate loan: $ 73 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 75 million (April 2007) • corporate loan: $66.8 million (August 2008) Bank of East Asia • corporate loan: $ 5 million (August 2008) Bank of Tokyo Mitsubishi UFJ .profile • corporate loan: $ 75 million (April 2007) Chang Hwa Bank • corporate loan: $ 15 million (August 2008) .8 million (August 2008) Barclays .banks Bank of Baroda • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.

China Construction Bank - profile

• corporate loan: $ 10 million
(AUgust 2008)

Citigroup - profile

• corporate loan: $ 75 million (April
2007)

• corporate loan: $ 66.8 million
(August 2008)

Crédit Agricole CIB

• corporate loan: $ 75 million (April
2007)

• corporate loan: $ 66.8 million
(August 2008)

DBS Bank

• corporate loan: $ 75 million (April
2007)

• corporate loan: $ 25 million
(August 2008)

DZ Bank

• corporate loan: $ 25 million (April
2007)

ICICI Bank

• corporate loan: $ 77 million (April
2007)

Intesa Sanpaolo - profile

• corporate loan: $ 25 million
(August 2008)

Mizuho - profile

• corporate loan: $ 75 million (April

2007)

• corporate loan: $ 66.8 million
(August 2008)

Natixis - profile

• corporate loan: $ 50 million
(August 2008)

Royal Bank of Scotland - profile

• corporate loan: $ 75 million (April
2007)

• corporate loan: $ 66.8 million
(August 2008)

Scotia Bank - profile

• corporate loan: $ 50 million
(August 2008)

Société Générale - profile

• corporate loan: $ 75 million (April
2007)

Standard Chartered - profile

• corporate loan: $ 66.8 million
(August 2008)

State Bank of India

• corporate loan: $ 66.8 million
(August 2008)

Sumitomo Mitsui Banking Corporation -
profile

• corporate loan: $ 75 million (April
2007)

• corporate loan: $ 66.8 million
(August 2008)

In April 2007, Vedanta Resources acquired a
51% controlling stake in the Indian iron ore
mining company Sesa Goa and made a bid for
another 20%. Total investment was US$ 1,370
million (€ 1,015 million). The acquisition was
financed in July 2007 by a one-year bridge loan
of US$ 1,100 million (€ 815 million) and
existing cash resources. The bridge loan was
arranged by ABN Amro Bank (now part of
Royal Bank of Scotland), Barclays, Citigroup
and ICICI Bank. Fifteen banks participated in
the syndicate, which was signed in August
2007.

In August 2008, Vedanta Resources secured a
US$ 1 billion (€ 642 million)five-year loan. The
loan is used to refinance the US$ 1.1 billion
acquisition loan that Vedanta took out in 2007
to help fund the purchase of a 51% stake in Sesa
Goa, India’s biggest private sector iron ore
producer. The total banking syndicate consisted
of 24 banks.

Since 2009 several banks have indicated they
will not invest in Vedanta Resources anymore.
Among these are Deutsche Bank, WestLB, and
Danske Bank. Also many investments funds
have disinvested from Vedanta Resources.
Among these are the Norwegian Government
Pension Fund, Martin Currie Investments, the
Church of England, the Joseph Rowntree
Charitable Trust and the Dutch Pension Fund
PGGM. The main reasons for these

and it's refusal to cooperate and improve on these issues. login members search loading. disinvestments are Vedanta's persistent bad performance on environmental. and human rights issues. Banks should follow Norway's example.. Copyright ©2008 BankTrack. social. sold its shares in Vedanta Resources due to the company's systematic environmental and human rights failures at four Indian subsidiaries. about banktrack focus contact us loading...... Financial institutions that have a social ethic or a concept of responsible lending should sever ties with Vedanta Resources and its subsidiaries. the world's second- largest sovereign wealth fund. created by EasyMIND Best viewed with Mozilla Firefox Loading banks english français español 中国版 home publications loading. mailing list . what must happen Norway's pension fund.

.India ..follow us on: dodgy deals loading.. active file ongoing campaign effort last update: Sep 19. 2010 further resources documents links pictures videos location contact bank comment external news print Mining in Goa/ Sesa Goa .. companies loading.

Goamap.685848499787 save location Bottom of Form banktrack contacts working partners Sebastian Rodrigues.location new location saved Top of Form 15. India basics issues bank role .

.

Local communities and civil society groups have raised serious concerns about the impacts of mining in Goa. fisheries losses. human right problems. Since 2007 Vedanta Resources is the majority shareholder of Sesa Goa. manganese and bauxite mining in Goa causes major social and environmental threats. including air pollution. destruction of agricultural fields. Sesa Goa also has other mining sites in villages such as Pissurlem in Sattari and Advalpal in Assonora. Besides mining activities in Goa.Advalpal villagers protest against Sesa Goa mining company in front of the Company headquarters in Goa's Capital city of Panjim. current status (Oct 07. 2008. and more. sector mining description Sesa Goa is the largest iron ore producer and exporter of Goa. Sesa Goa is also mining in Karnataka and Orissa. Read more. atmospheric dust. June 4. water pollution and scarcity. 2009) Sirigaon Litigation In June 2008 Sirigaon village residents filed a petition to the Bombay High Court claiming . Sesa Goa's main mining operations are at Codli and Sonshi. Open cast iron ore.

companies involved companies Sesa Goa Limited . It recommended that the companies (among others Sesa Goa) should “replenish the aquifier. restore the damaged rice fields and stabilise mine waste”. The petitioners alleged that Sesa Goa was indulging in hazardous mining in violation of the approved mining plan. These actions are estimated to cost $1.4 million over 18 months. Read more.dried up well and siltation as a result of the mining activities. The Bombay High Court ordered an independent government body to investigate the case (National Environmental Engineering Research Institute). Advalpal Litigation In 2009 a public interest litigation was filed by a nine-year-old child of Advalpal village through his mother Sharmila Naik together with the Goa Foundation. On September 17. In 2009 a report from this government body confirmed the depletion of water supplies and the land situation. Read more. The Court ordered Sesa Goa to write a proposal for removing illegal mining dumps in Advalpal before the next hearing. likely in October 2009. 2009 the High Court of Bombay (interim order) restrained Sesa Goa from undertaking Phase I and II mining in Advalpal.

1980 financial institutions involved . dodgy aspects Potential legal violations • Contamination of groundwater and river water Water act.profile Sesa Goa Limited. is the flagship company of Sesa Group. in the mid 1990s it was taken over by the Japanese company Mitsui and in 2007 Vedanta acquired a majority share of Sesa Goa. 1981 • Noise pollution The Noise Pollution (Regulation and Controls) Rules.Sesa Group Vedanta Resources . 1984 Forest (Conservation) Act. 1974 Environmental Protection Act. Sesa Goa Limited earlier was an Italian company. 1988 The Mines and Minerals Act. 1986 The Mineral Conservation and Development Rules. 2000 • Encroachment by Sesa Goa onto School land Land Acquisition Act. 1957 • Contamination of air quality with dust and chemical pollutants Air Act.

profile • corporate loan: $ 75 million (April 2007) • corporate loan: $66.8 million (August 2008) Barclays .8 million (August 2008) BayernLB • corporate loan: $ 25 million (August 2008) BNP Paribas .profile • corporate loan: $ 75 million (April 2007) Chang Hwa Bank • corporate loan: $ 15 million (August 2008) .8 million (August 2008) Bank of East Asia • corporate loan: $ 5 million (August 2008) Bank of Tokyo Mitsubishi UFJ .banks Bank of Baroda • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 73 million (April 2007) • corporate loan: $ 66.

profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 10 million (AUgust 2008) Citigroup .8 million (August 2008) Crédit Agricole CIB • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 25 million (August 2008) Mizuho .8 million (August 2008) DBS Bank • corporate loan: $ 75 million (April 2007) • corporate loan: $ 25 million (August 2008) DZ Bank • corporate loan: $ 25 million (April 2007) ICICI Bank • corporate loan: $ 77 million (April 2007) Intesa Sanpaolo .profile • corporate loan: $ 75 million (April .China Construction Bank .

profile • corporate loan: $ 75 million (April 2007) Standard Chartered .profile • corporate loan: $ 50 million (August 2008) Royal Bank of Scotland .8 million (August 2008) Scotia Bank .8 million (August 2008) Sumitomo Mitsui Banking Corporation - profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.8 million (August 2008) State Bank of India • corporate loan: $ 66.profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 50 million (August 2008) Société Générale .8 million (August 2008) Natixis .8 million (August 2008) . 2007) • corporate loan: $ 66.profile • corporate loan: $ 66.

Among these are the Norwegian Government Pension Fund. The acquisition was financed in July 2007 by a one-year bridge loan of US$ 1. WestLB. Also many investments funds have disinvested from Vedanta Resources.In April 2007. Vedanta Resources acquired a 51% controlling stake in the Indian iron ore mining company Sesa Goa and made a bid for another 20%. India’s biggest private sector iron ore producer. Total investment was US$ 1. In August 2008. Citigroup and ICICI Bank.100 million (€ 815 million) and existing cash resources. The loan is used to refinance the US$ 1. The main reasons for these .370 million (€ 1. The bridge loan was arranged by ABN Amro Bank (now part of Royal Bank of Scotland). and Danske Bank. Barclays. Vedanta Resources secured a US$ 1 billion (€ 642 million)five-year loan. the Church of England. the Joseph Rowntree Charitable Trust and the Dutch Pension Fund PGGM. Martin Currie Investments. The total banking syndicate consisted of 24 banks. Among these are Deutsche Bank. Since 2009 several banks have indicated they will not invest in Vedanta Resources anymore. Fifteen banks participated in the syndicate.015 million). which was signed in August 2007.1 billion acquisition loan that Vedanta took out in 2007 to help fund the purchase of a 51% stake in Sesa Goa.

disinvestments are Vedanta's persistent bad performance on environmental. about banktrack focus contact us login Banking crisis search Banks and arms mailing list Banks and human rights . Copyright ©2008 BankTrack. social.. Banks should follow Norway's example. and it's refusal to cooperate and improve on these issues.. sold its shares in Vedanta Resources due to the company's systematic environmental and human rights failures at four Indian subsidiaries. and human rights issues. Financial institutions that have a social ethic or a concept of responsible lending should sever ties with Vedanta Resources and its subsidiaries. the world's second- largest sovereign wealth fund. what must happen Norway's pension fund. created by EasyMIND Best viewed with Mozilla Firefox Loading english français español 中国版 home banks publications loading.

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videos location contact bank comment external news print Mining in Goa/ Sesa Goa . Goamap.India location new location saved Top of Form 15. India .685848499787 save location Bottom of Form banktrack contacts working partners Sebastian Rodrigues.

basics issues bank role .

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Local communities and civil society groups have raised serious concerns about the impacts of mining in Goa. Sesa Goa also has other mining sites in villages such as Pissurlem in Sattari and Advalpal in Assonora. 2008. including air pollution. June 4. sector mining description Sesa Goa is the largest iron ore producer and exporter of Goa. atmospheric dust. The Bombay High Court ordered an independent government body to investigate the case (National Environmental Engineering Research Institute). manganese and bauxite mining in Goa causes major social and environmental threats. fisheries losses. 2009) Sirigaon Litigation In June 2008 Sirigaon village residents filed a petition to the Bombay High Court claiming dried up well and siltation as a result of the mining activities. Since 2007 Vedanta Resources is the majority shareholder of Sesa Goa.Advalpal villagers protest against Sesa Goa mining company in front of the Company headquarters in Goa's Capital city of Panjim. Sesa Goa's main mining operations are at Codli and Sonshi. water pollution and scarcity. current status (Oct 07. destruction of agricultural fields. human right problems. Besides mining activities in Goa. Read more. Open cast iron ore. Sesa Goa is also mining in Karnataka and Orissa. and more. In 2009 a report from this government body confirmed the .

profile Sesa Goa Limited. On September 17. in the mid 1990s it was taken over by the Japanese company Mitsui and in 2007 Vedanta acquired a majority share of Sesa Goa. companies involved companies Sesa Goa Limited Sesa Group Vedanta Resources . is the flagship company of Sesa Group. Read more. 2009 the High Court of Bombay (interim order) restrained Sesa Goa from undertaking Phase I and II mining in Advalpal.depletion of water supplies and the land situation. likely in October 2009.4 million over 18 months. Advalpal Litigation In 2009 a public interest litigation was filed by a nine-year-old child of Advalpal village through his mother Sharmila Naik together with the Goa Foundation. restore the damaged rice fields and stabilise mine waste”. dodgy aspects Potential legal violations . It recommended that the companies (among others Sesa Goa) should “replenish the aquifier. Read more. Sesa Goa Limited earlier was an Italian company. The Court ordered Sesa Goa to write a proposal for removing illegal mining dumps in Advalpal before the next hearing. These actions are estimated to cost $1. The petitioners alleged that Sesa Goa was indulging in hazardous mining in violation of the approved mining plan.

1986 The Mineral Conservation and Development Rules. 1974 Environmental Protection Act. 1988 The Mines and Minerals Act. 1957 • Contamination of air quality with dust and chemical pollutants Air Act. 1981 • Noise pollution The Noise Pollution (Regulation and Controls) Rules.8 million (August 2008) BayernLB . 2000 • Encroachment by Sesa Goa onto School land Land Acquisition Act. • Contamination of groundwater and river water Water act.profile • corporate loan: $ 73 million (April 2007) • corporate loan: $ 66. 1980 financial institutions involved banks Bank of Baroda • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.8 million (August 2008) Barclays .8 million (August 2008) Bank of East Asia • corporate loan: $ 5 million (August 2008) Bank of Tokyo Mitsubishi UFJ .profile • corporate loan: $ 75 million (April 2007) • corporate loan: $66. 1984 Forest (Conservation) Act.

• corporate loan: $ 25 million (August 2008) BNP Paribas .8 million (August 2008) Crédit Agricole CIB • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.8 million (August 2008) DBS Bank • corporate loan: $ 75 million (April 2007) • corporate loan: $ 25 million (August 2008) DZ Bank • corporate loan: $ 25 million (April 2007) ICICI Bank • corporate loan: $ 77 million (April 2007) Intesa Sanpaolo .profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.8 million (August 2008) Natixis .profile .profile • corporate loan: $ 10 million (AUgust 2008) Citigroup .profile • corporate loan: $ 25 million (August 2008) Mizuho .profile • corporate loan: $ 75 million (April 2007) Chang Hwa Bank • corporate loan: $ 15 million (August 2008) China Construction Bank .

Vedanta Resources acquired a 51% controlling stake in the Indian iron ore mining company Sesa Goa and made a bid for another 20%. In August 2008.8 million (August 2008) Sumitomo Mitsui Banking Corporation . which was signed in August 2007. Vedanta Resources secured a US$ 1 billion (€ 642 million)five-year loan. The loan is used to refinance the .015 million).370 million (€ 1. Barclays. Citigroup and ICICI Bank.8 million (August 2008) Scotia Bank .100 million (€ 815 million) and existing cash resources.profile • corporate loan: $ 50 million (August 2008) Société Générale .profile • corporate loan: $ 75 million (April 2007) Standard Chartered .profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66.profile • corporate loan: $ 66. • corporate loan: $ 50 million (August 2008) Royal Bank of Scotland .8 million (August 2008) In April 2007.8 million (August 2008) State Bank of India • corporate loan: $ 66. Fifteen banks participated in the syndicate. The acquisition was financed in July 2007 by a one-year bridge loan of US$ 1.profile • corporate loan: $ 75 million (April 2007) • corporate loan: $ 66. Total investment was US$ 1. The bridge loan was arranged by ABN Amro Bank (now part of Royal Bank of Scotland).

the world's second-largest sovereign wealth fund. The main reasons for these disinvestments are Vedanta's persistent bad performance on environmental. what must happen Norway's pension fund. Since 2009 several banks have indicated they will not invest in Vedanta Resources anymore. WestLB. Financial institutions that have a social ethic or a concept of responsible lending should sever ties with Vedanta Resources and its subsidiaries. India’s biggest private sector iron ore producer.1 billion acquisition loan that Vedanta took out in 2007 to help fund the purchase of a 51% stake in Sesa Goa. and it's refusal to cooperate and improve on these issues. social. sold its shares in Vedanta Resources due to the company's systematic environmental and human rights failures at four Indian subsidiaries. Among these are Deutsche Bank. the Joseph Rowntree Charitable Trust and the Dutch Pension Fund PGGM. and Danske Bank. the Church of England. created by EasyMIND Best viewed with Mozilla Firefox Loading . Copyright ©2008 BankTrack. Martin Currie Investments. Also many investments funds have disinvested from Vedanta Resources. US$ 1. and human rights issues. Among these are the Norwegian Government Pension Fund. The total banking syndicate consisted of 24 banks. Banks should follow Norway's example.

India ers Mr. Type NSE: SESAGOA) Industry Mining Founded 1954 Headquart Goa. search This article is written like an advertisement. Managing Key people Director Iron ore Products Pig Iron Metallurgical Coke Revenue ▲ Rs. 6. Karnataka. (September 2010) Sesa Goa Limited Public Limited (BSE: 500295.284 Crores (2010)[1] .P K Mukherjee. Please add more appropriate citations from reliable sources. use {{db-spam}} to mark for speedy deletion.Sesa Goa From Wikipedia. (September 2010) This article needs references that appear in reliable third-party publications. the free encyclopedia Jump to: navigation. Please help rewrite this article from a neutral point of view. For blatant advertising that would require a fundamental rewrite to become encyclopedic. Orissa . Primary sources or sources affiliated with the subject are generally not sufficient for a Wikipedia article.

jetties. Over the last two decades. Net ▲ Rs. operates a pig iron plant with an installed capacity of 250.0%.2 Mineral Foundation of Goa (MFG) .3% owned subsidiary.100 (2010) Website sesagoa. mining and processing of iron ore. which in turn.000 TPA.5 million tonnes of iron ore. Mangalore and Krishnapatnam while iron ore from mines in Orissa is mainly exported through ports of Haldia and Paradeep. Karnataka and Orissa in India. Sesa has diversified into manufacturing of pig iron and metallurgical coke.[citation needed] The mining operations are carried out in the States of Goa. The reserves and resources position has been independently reviewed and certified as per Joint Ore Reserve Committee (JORC) standard. Iron ore from mines in Goa is exported through port of Goa. For over five decades it is engaged in the business of exploration. Sesa Industries Limited (SIL). also holds 100% equity shares of Dempo Mining Corporation Private Limited and 50% equity shares of Goa Maritime Private Limited. Sesa owns or has the rights to reserves and resources consisting of 353 million tonnes of iron ore at an average grade of 58. As of 31 March 2010. through 88. transhippers and loading capacities at Mormugoa port.com Sesa Goa is India's largest producer and exporter of iron ore in the private sector.629 Crores (2010)[2] income Employees Approx. It is one of the low cost producers of iron ore in the world and is well placed to serve the growing demand of Asian countries. Iron ore from mines at Karnataka is exported through ports of Goa. It directly operates a metallurgical coke plant with an installed capacity of 280. it produced 21.1 Sesa Community Development Foundation (SCDF) ○ 4. In fiscal 2010.4 million tonnes and sold 20.000 TPA and. barges. SIL manufactures pig iron through the blast furnace route. 4. Sesa owns metallurgical coke production technology and have entered into technology licensing agreements with different licenses for marketing its technology for setting up non-recovery coke oven plants across the globe. 2. Contents [hide] • 1 History & Milestones • 2 Strategic Positioning • 3 Dempo Acquisition • 4 Corporate Social Responsibility ○ 4.[citation needed] It acquired VS Dempo & Co. VSD's Goa mining assets includes processing plants. Private Limited (VSD) in June 2009.

p.p.a. With the financial backing of an enterprising Italian.1 Health  4.3. . he acquires the Orosso Dongor Mining Concession in North Goa and starts a company called Scambi Economici S.A.l. Mingoa Sociedade Mineral Goesal S. 1979 • A single company Sesa Goa Private Limited is formed with amalgamation of Sesa Goa and Mingoa fully owned by Finsider S.A.p.3.3 Water Supply  4. 1963 • Finsider S. Alessandro[who?].2 Social Infrastructure  4.3 Other Initiatives  4.000 Indian shareholders holding 60% of its shares and the remaining 40% held by Finsider International (later became ILVA INTERNATIONAL) 1984 • Sesa Goa starts a barge construction unit at Sirsaim which has since developed into a Ship Building division. of Italy (a subsidiary of Finsider S. acquires the West German interest in Sesa Goa Limitada and also all the shares of Mingoa.3. Goa.A. 1965 • Sesa Goa and Mingoa are incorporated as Private Limited Companies under Indian Companies Act 1956. 1981 • Sesa Goa goes public with 42.r. of the IRI group) represented by Paolo Tradardi.4 Awards & Recognition • 5 External links and references [edit] History & Milestones 1954 • Baron Ludovic Toeplitz lands in Goa. ○ 4. both parties having equal shareholding.3.p.A. 1955 • The company renamed Sesa Goa Ltd.A.3.5 Agriculture & Livelihood ○ 4. is bought over jointly by Gewerkeshaft Exploration a Bergbau represented by Eugene Plotzki and by Ferromin S.4 Education  4. is incorporated with Fiat of Torino as the principal shareholder. 1957 • Another company started in Goa.

2000 • Sesa Kembla Coke completes the development of an indiginous and environment friendly technology for producing high quality Metallurgical Coke and generating power as a by-product. MITSUI & CO. of Japan. through Earlyguard. Orissa. 1997 • Sesa Kembla becomes 100% subsidiary of Sesa Goa. Ltd. Sesa Kembla applies for international patents for its technology. listed on the London Stock Exchange acquires 51% controlling stake in Sesa Goa Ltd. 2009 .000 tons per year Pig Iron plant is commissioned and manufacture of low phosphorous foundry grade pig iron starts.1992 • First phase of 150. 1999 • Sesa Goa commences mining operations at Barbil in Orissa producing high grade iron ore and exporting from the nearby ports of Haldia and Paradip. a diversified metals and mining group. • 84 coke ovens are commissioned in April. UK. 1994 • Second blast furnace is commissioned in July. from Mitsui & Co. buys Finsider International with its 51% stake in Sesa Goa Ltd. 1995 • Sesa Shipping is launched in January with acquisition of Transhipper M. 2007 • Vedanta Resources Plc. 2003 • Sesa Goa equity in Sesa Industries raised to 88. 2002 • Sesa Group becomes the first business of its kind to be certified with OHSAS 18001.V. • Karnataka mining developments commence. 1998 • Sesa Community development Foundation is established to encompass NCM Sesa Technical School and a new Sesa Football Academy.25% 2004 • Sesa Group completes 50 years of operations. 1996 • On 11 October.

Ltd. Not only has the acquisition added to Sesa Goa’s resources but has also given the Company access to VSD’s customer base. over the years has created ‘Sesa’ brand of iron ore which caters primarily to the rapidly growing emerging economies of India and China. which included its own production and purchased ore. These include: • Exploration: With Sesa Goa’s focus on exploration. Metallurgical Coke (Met Coke) -The metallurgical coke business is primarily a backward integration initiative to support the pig iron business. [edit] Strategic Positioning Sesa Goa. The Company utilises its specialised coke making technology to build efficiencies in this business. VSD’s mining assets in Goa includes processing plants. . While this is true across the Sesa Group’s and the Company’s different business segments – iron ore. VSD sold 4. especially in western and southern India. Ltd. With this acquisition. focuses on the domestic Indian market. there are variations among the businesses in terms of their relative focus on China and India.750 (equivalent to US$368 million). The deal was signed for a total consideration of Rs. impetus has been given to understand the resources at Dempo. pig iron and met coke. Sesa Goa signed a definitive share purchase agreement under which the Company acquired all the outstanding common shares of VS Dempo and Company Private Limited (‘VSD’ or ‘Dempo’). VSD either owns or has the rights to mineable reserves and resources estimated at 70 million tonnes of iron ore in Goa. In addition.36 million tonnes of iron ore. barges. also held 100% equity shares of Dempo Mining Corporation Private Limited and 50% equity shares of Goa Maritime Private Limited. this business is focusing on mining different grades of ore in India and is exported mainly to China. the Company got access to VSD’s mining assets in Goa. and included net normative working capital of Rs. 1. Iron Ore -With over 80% of its sales in China. and 50% equity shares of Goa Maritime Pvt. jetties. on a debt-free and cash-free basis. During the course of the year. transhippers and loading capacities at Mormugoa port. Some of the production is sold externally based on market conditions and internal requirements. Ltd. which in turn. • Sesa Goa Limited and Dempo Group have signed a definitive share purchase agreement under which Sesa has acquired all the outstanding common shares of VS Dempo & Co. Sesa Goa has a niche positioning in the Chinese sea-borne iron ore business. At the time of acquisition VSD was one of the largest exporters of iron ore from Goa with exports of around 4 million tonnes. along with its 100% equity shares of Dempo Mining Corporation Pvt. In 2008-09. With its cost competitive ore base and mine locations having relatively good accessibility to China. Sesa Goa has already started leveraging several synergies between the two Companies. 145 crore (equivalent to US$31 million). [edit] Dempo Acquisition In June 2009. and a composite exploration plan has been worked out. The acquisition was wholly financed by Sesa Goa’s own cash resources.[citation needed] Pig Iron -This business. Pvt. which was an initiative in moving up the iron-ore value chain[clarification needed] . and caters to steel mills and foundries.

Goa. In 2009. • Port operations: The acquisition has resulted in additional stacking capacities and optimum utilisation of Dempo’s transhipper • Centralisation of common services: This includes integration of functions like marketing . SFA is the only residential academy of Goa which trains the boys for four years besides allowing them to pursue their regular academic studies. efforts are on to rationalize transport. procurement. it has became a practice of the prospective employers of surrounding industries to visit the school for campus interviews to choose their manpower requirement. which started from June 2008 at Sirsaim. So. Goa. the focus is on optimizing resources in all mines. all the 54 trainees passed the ITI trade test with flying colours. As a result of excellent training. the Company undertakes some need based initiatives. There is a junior level academy. which began functioning from June 1999 at Sanquelim. In addition. STS has lived up to the expectations by imparting rigorous training in the trades of fitters. logistics. etc. All the expenses including the trainee’s academic studies are taken care by the SFA. [edit] Corporate Social Responsibility Initiatives fostering community development are implemented through the Sesa Community Development Foundation. This is reflected in the financial performance of the Company in 2009-10. a well established gymnasium. [edit] Sesa Community Development Foundation (SCDF) This foundation runs the Sesa Technical School which provides technical training to local students. with a view to reducing unit costs. The Sesa Technical School (STS) has become a leading vocational training institute in Goa and has a reputation of identifying and nurturing potential excellence of young Goans. and a complete hostel facility along with a recreation centre. the seniors. are housed under one roof with full scale facilities. For the last several years it has maintained 100% results in the Industrial Training Institute (ITI) trade examinations. The Company started its junior residential football academy in 1999 in its reclaimed mine site at Sanquelim with a beautiful football ground. it created a full-fledged football infrastructure for the senior team. mine planning. increasing throughput and improving logistic efficiencies. When Sesa Goa decided to start the senior academy true to its style. While these are parts of an ongoing process. An important accessory of Sesa Goa in its CSR initiatives. Among them. along with their coaches. The Sesa Football Academy has two centres. The junior football academy and the technical school is built on the reclaimed mine site at Sanquelim – an example of both environmental conservation and community development work. HR. Sesa Goa has succeeded in optimising the Dempo business in 2009-10. both directly and in association with the Mineral Foundation of India. particularly those with the same ore-body. The school arranges campus interviews and ensures that all the trainees get absorbed in industries after completion of the course. and the Sesa Football Academy which nurtures future footballers from Goa. It presently houses 36 boys. instrument mechanics and electricians. • Logistic (land and river fleet operation): With both companies having mines and river jetties in close vicinity. three were top rankers. and a senior academy. machinists. such as . • Processing and grade optimisation: Process flows at Dempo mines are being reviewed to increase recovery. • Mine planning and operations: With a central planning cell.

panchayat halls. and play equipment for public parks. balwadi health campaigns. and panchayat areas. crematoriums. Mulgaon. The main thrust is to create livelihood options for rural youth through various training programmes like bed side nursing. cataract detection and subsequent treatment. [edit] Social Infrastructure • Construction of balwadis. • More than 240 employees donated blood on World AIDS Day. urology detection camps for the spouses of employees were organised. public toilets. In addition. school grounds. anganwadis. • Organised specialised medical camps like paediatric camps. [edit] Mineral Foundation of Goa (MFG) This is an NGO established by the major mining companies of Goa. • Conducted various health camps like anaemia detection. [edit] Other Initiatives [edit] Health • Started four new community medical centres at Piligaon. swine flu and malaria. The MFG’s work centres on projects which are aimed to develop environmental and social infrastructure.as well as platforms and steps for idol immersion. Surla and Panchawadi in Goa. steam sauna as well as recreational and indoor game options. • Construction of compound walls at schools. . village resource centres. • Building metal roads around business areas. • Provision of library infrastructure and gymnasium equipment. and development of gardens. • Sustained awareness campaign for cancer. • Constructed a Neuro Rehab Centre for neurologically challenged children at the Goa Medical College. diabetes and hypertension detection camps. education and social infrastructure development. construction of bus stops. food and beverage. general health camps at schools. gymnasium. [edit] Water Supply • Open tube wells were provided in villages and local schools for drinking and irrigation. for implementation of social and environmental activities in the mining belt of the state. plumbing. etc. and reconstruction of religious buildings for beautification and protection. These are at Codli and Mayem – one each in south and north Goa respectively.nutritious food in the canteen. The first phase of the project has been completed involving agriculture. and others. Sesa Goa and the MFG in association with the Government of Goa are jointly implementing a project “Gram Nirman 2010” aimed at overall development of the village.

and Betki. • Commenced a drinking water project for facilitating residents of Kirlapal- Dabal panchayat under Gram Nirman Phase II. Amona. grafting and organic farming for youth. tractors. • Constructed bandharas to store water for irrigation in 12 locations in association with the MFG. Sirigere. • Provided scholarship to meritorious students. fertilizers and improved seeds for farmers to restart farming near our mining areas. Some 600 families benefitted from the programme • Provided incentives like construction of bandharas. run by an NGO called SPEECH at Karnataka. • Conducted school health and education improvement programmes in association with an NGO called Manthan. . • Trained balwadi teachers in Montessori methods. • Imparted skilled development programmes in the latest techniques of coconut harvesting. Codli. • Conducted free vocational tuition classes for 10th standard students around our Karnataka mines in association with Sri Taralabalu Jagadguru Educational Institution. • Distributed books and study materials to over 73 schools. • Provided play equipment to balwadi and primary schools. carried out de-silting of lakes and streams for protection of natural water resource. [edit] Education • Constructed 12 Modern anganwadis in collaboration with MFG across the mining belt. Navelim. • Construction of bandharas on natural water streams for storage and irrigation. mushroom cultivation. [edit] Agriculture & Livelihood • Brought under cultivation nearly 146 hectares of agricultural land near our mines by providing the assistance to the farmers at Vagona. in association of the Government of Goa’s Department of agriculture. • Renovated school building and libraries. provision of power tillers. • Organised coaching classes for over 70 students of Bicholim and Sattari taluka. • Adopted the Residential School for Child Labour. • Along with MFG. Cudnem. • Adopted mid-day meal schemes in Government High Schools that benefits 100 students daily. • Signed MoU with the Betki Kandhola Panlot Sangh and the Amona Panlot Sangh for watershed activities and agriculture improvement programmes.

Waste Dump Management – 1st Prize. the Company secured the following awards: Afforestation - 1st Prize. Management of Sub Grade Minerals * 2nd Prize. the world By: Keith Campbell 23rd March 2007 . • Trained women in different livelihood skills like stitching. says Zambia expansion project on track Diversified-miner Vedanta Resources had achieved “significant” increases in the yearly output of all its business units. and established 40 self- help groups.. held in February 2010. The India-based miner on Thursday. • In January 2010. • The Company’s reclaimed Sanquelim mine was awarded the “Certificate of Appreciation for Plantation Management” by CII).[citation needed] Corporate Social Responsibility • Sesa Goa won the overall first prize for Corporate Social Responsibility (CSR) during the 7th National conference on Occupational Safety. By: Chanel de Bruyn 8th April 2010 NEWS THIS WEEK Brazilian giant hunting down resources prey like stealthy jaguar BRAZILIAN mining group Companhia Vale do Rio Doce (CVRD). DIVERSIFIED MINER Vedanta lifts FY output. Sesa Industries Ltd and Sesa Goa’s Met Coke Division won the International Safety Award for 2009 by the British Safety Council. Reclamation and Rehabilitation • 2nd Prize. Installation and use of Mechanical Beneficiation Plant • 2nd Prize. Sesa Goa secured the first prize for overall performance. • During the 47th National Maritime Celebration. Health and Environment. continued on schedule. • In April 2010. [edit] Awards & Recognition Health Safety and Environment • Sesa Industries received the National Award for Excellence in Water Management 2009 as a “Water Efficient Unit” organised by Confederation of Indian Industry (CII) by CII-Sohrabji Godrej Green Business Centre. Top Soil Management – 2nd Prize. organized by Inspectorate of Factories and Boilers. coconut shell items. Publicity and Propaganda – 1st Prize. Sesa Goa was adjudged as the best Barge operator in Goa (2009–10). of Goa. Western Region. while work on the Konkola Deep Mine Project (KDMP). Govt.. in Zambia. catering and imitation jewellery. Apart from these. bamboo crafts. Systematic Development.

which. and also to derive maximum synergies from the young professionals spread across the Company. Pig Iron business through its subsidiary Sesa Industries Limited and a technology business. one among the top 20 in the country. thus also improving participation and overall effectiveness of the programmes. discuss new trends. pig iron and met coke business. By: Keith Campbell 9th March 2007 LEARNING AND DEVELOPMENT Sesa takes immense pride in its Learning and Development initiatives. This allowed each employee to plan their training in advance keeping in mind their work schedules. Inputs were provided on behaviours and attitudes in both personal and professional contexts. solve work-related problems. Sesa started an initiative whereby each Staff member could nominate themselves for various training programmes by sending a mail directly to Corporate Human Resources. along with workmen from the existing Sesa units. team building and project management are covered. specifically for employees who have an educational background in Mining and are involved in Mining Operations (including Exploration. each of which operates independently. learn and share best practices and develop members’ skills. • Communities of Practice: Sesa Goa has created a Community of Practice in Mining for its employees as an effort towards shared learning. stalks new prey BRAZILIAN mining and logistics major Companhia Vale do Rio Doce (CVRD) has started 2007 like it finished 2006 – seeking acquisitions. • Self Nomination:To ensure that employees are given a chance to direct their own learning and development. Separate modules on various aspects of management and behavioural skills are conducted simultaneously for the remaining executives to take care of skills gaps. OUR OPERATIONS Sesa Goa's operations is organised into Iron Ore Division. Some of the major L & D activities are described below: • Management Development Programmes for GETs: Sesa tied up with a reputed management institute in Goa. Over 300 employees of the Dempo units were covered under this initiative. apart from helping them solve chronic problems in their work areas is also expected to help them in identifying improvement opportunities. Metallurgical Coke Division. All new joinees hired as freshers from various campuses are given this training as a part of their induction programme. email networks and reviews. Community affairs progress through meetings. • Training on Structured Problem Solving Approach: Sesa started an initiative through which it has started to equip employees with the tools and techniques of Structured Problem Solving. Mine Planning and Logistics). The overall objective was to enable employees realise their fullest human potential. and our in- house technical experts deliver the sessions. The same concept will soon be extended to other areas such as logistics. The training covers the basics of our mining. . Various areas such as communication. • Proactive Work Ethos and Attitudinal Change Programme: The programme was targeted at workmen and aimed to motivate them to align their personal values to the organisation's values.NEWS THIS WEEK Brazilian giant strikes again. to equip its young engineers with necessary tools and techniques to be effective frontline managers. Sesa has started an initiative to provide modular training on the various technical aspects of the business to all professionals in the Company with less than 5 years of experience. • Technical Training: To accelerate the learning of. The forum is entirely professional and is used to share experiences and knowledge.

" Read more • PIG IRON OPERATIONS "Sesa Goa's Pig Iron business is managed through 88% owned subsidiary Sesa Industries Limited commenced operations in 1994.• IRON ORE OPERATIONS "Sesa Goa is India's largest producer and exporter of Iron Ore in the private sector. The plant is situated at Amona. with mining and processing facilities located in Goa. The facilities are located in Amona. Goa. India.000 tpa to 560. We are expanding our coke production capacity from 280.000 tpa.000 tpa and is being expanded to 625.000 tpa." Read more • METALLURGICAL COKE "Sesa Goa's Metallurgical Coke Division is a 100% subsidiary of Sesa Goa Limited was formed in 1994." Read more • COKE MAKING TECHNOLOGY . We are on course to be one of the top four Iron Ore producing companies in the world post our expansion plans to 50 Mt from the current level of 21 Mt of Iron Ore production. India. India. Karnataka and Orissa. Goa. It has a capacity of 250.

Sesa Goa is India's largest producer and exporter of iron ore in the private sector. Our other products include Pig Iron and Metallurgical Coke. We are on course to be the fourth largest iron ore producer in the World." Please click here to view the complete product offer details Read more • METALLURGICAL COKE "Sesa Goa offers low ash premium quality metallurgical coke." PRODUCTS With operations located in India." Please click here to view the complete product offer details Read more • COKE MAKING TECHNOLOGY . "Sesa Goa provides proprietary technologies and specialist services in the area of Coke Making Technology for companies worldwide and to Sesa Goa's own coke making operation to improve efficiency and reduce operating costs. Foundry & Basic grade Pig Iron.Making Technology • IRON ORE "Sesa Goa offers processed and screened quality Iron ore fines & lumps produced at Sesa Goa Limited/ VS Dempo & Company Ltd" Please click here to view the complete product offer details Read more • PIG IRON "Sesa Industries offers best quality Low Phosphorous Nodular. We also own and sell our Coke.

We are committed to building a flexible. Our sustainable development strategy is all encompassing of four elements: ENVIRONMENTAL STEWARDSHIP: Respect for nature. HEALTH AND SAFETY: We are committed to providing a safe. performance and integrity. We are committed to enhancing the quality of life of the communities near our operations and creating self sustaining communities." Please click here to view the details of our coke-making technology SUSTAINABLE DEVELOPMENT Sustainable development is an integral part of our business practices. Today we have a well defined policy in Safety. Our focus on sustainability drives our conviction to pursue value creating projects and at the same time achieve positive environmental. We being a mining industry have major challenges on HSE. secure and healthy workplace for all employees by using the best technology and practices. Environment & Quality ("SHEQ") for all our operating units. The HSE committee's agenda is taken forward by the senior management at each site and they are supported by HSE professionals who implement this agenda. modernisation of equipments. sets annual targets and monitors progress in line with our HSE and social policies with a clear focus on integrating HSE aspects in the decision-making process. STRATEGY . social. The committee guides our sustainable development endeavour. new ways of operating to actively minimise the negative environmental impacts and conserving natural resources through efficient use. they also review the effectiveness of the system periodically. we are continuously innovating and enhancing our environmental and social performance. flat and learning organisation with an engaged and high performing workforce. We believe in nurturing and mentoring leaders from within and providing opportunities for growth based in meritocracy. We believe that sustainability is a dynamic process and not about finding an ideal status. Health. enhanced resource conservation and use of environment friendly technology are embodied in our working NURTURING PEOPLE: People are our key assets. All our locations are certified for ISO 9001. We are continuously seeking to address these challenges by • Mining in environmentally responsible and cleaner ways. Sesa Goa's corporate HSE department & the management review committee frame the policy and guidelines on HSE. It reflects in the way we operate and represents a core commitment of our management and employees. We work to gain and nurture our social license to operate in the host of communities. SAFETY & ENVIRONMENT Sesa Goa places a strong emphasis on Health. • Eliminating the occupational illness by providing a workplace that is free from occupational health risk and hygiene hazard. HEALTH. ISO 14001 and OHSAS 18001 except Orissa Operations and OHSAS for Dempo Operations. Consequently. "Sesa Goa provides proprietary coke-making technology and specialist service in the area of coke making process worldwide and also to Sesa Goa's own operations to improve efficiency and reduce operating costs. • Providing a safe workplace that is injury-free working environment for all our employees and contract workmen's. We have a well qualified HSE and CSR teams across all our operations comprising over 50 qualified and experienced professionals. The process deployed helps us in enhancing focus and gives direction to our sustainability roadmap. health and safety outcomes with emphasis on establishing robust management systems. EMPOWERING COMMUNITIES: Communities are integral to our business. long-term strategy and overall ethos. Safety & Environment ("HSE"). through adoption of new and efficient technologies.

fostering entrepreneurship. though it gained by 16 percentage points over the year-ago period . Our systems are well established and are regularly reviewed and monitored taking into account our own experiences and industry best practice. HEALTH AND SAFETY Sesa Goa is committed to achieving best practice in health and safety at all of our units. We have set ambitious targets at our business to use fewer resources. agile and flat organisation with world-class capabilities and a high-performance culture. attracting and retaining the best talent. Our water and energy conservation performance has been promising and has set new targets in some instances. These principles are embedded across the organisation and are a key element of our employee training. its operating profit margin fell by around 2 percentage points sequentially. INTEGRAL TO OUR BUSINESS PHILOSOPHY Sustainable development is integral to our business philosophy. Respect for the individual. Knowledge-sharing across the Vedanta group companies plays an important part in this process. We see the key drivers of our approach as being: proactive engagement with our stakeholders. shape the culture of our company and guide us in our actions and decisions. Our core values of growth. but also underline our relationships with all our stakeholders. OUR LOCAL COMMUNITIES We believe we have a responsibility to engage with the communities in which we operate and to foster their social and economic development. Sesa Goa’s costs on railway freight. export duties and royalty rates have risen. OUR PEOPLE Our people are our valued asset and drive our overall performance. our provision of a safe and healthy working environment. excellence. trust and sustainability not only encompass our business philosophy. ensuring an enabling environment and developing a "can do" attitude is a way of life at Sesa Goa. entrepreneurship. Our vision is to build a flexible. our focus on using environmentally friendly technologies and our drive to conserve natural resources. As a result. CONSERVATION OF NATURAL RESOURCES This is a fundamental aspect of everything we do. development and performance at all levels. valuing diversity.

volumes rose 14% to 5. while net profit rose 7. which doubled y-o-y and were up by around 40% over the previous quarter. depend on getting the requisite clearances in time. But thanks to the Dempo acquisition. Meanwhile. its operating profit margin fell by around 2 percentage points sequentially. stricter controls and procedural delays are affecting Sesa Goa’s despatches. The company is confident that its operations in Karnataka and Orissa will return to normalcy in the current year and has reported some improvement in Karnataka in July. prices are still about 40% higher. Worries about slower demand from the Organisation for Economic Co-operation and Development (OECD) and Chinese markets have seen iron ore fine prices fall 40% since end-April. Sesa Goa is maintaining its volume growth projection of 20-25% for the current fiscal. On a sequential basis. . Obtaining permits and delays in transportation due to checks have affected exports. over the year-ago period.us • digg • newsVine • • • font size Iron ore mining company Sesa Goa Ltd has been unable to capitalize on the sharp rise in iron ore prices. As a result. Operations in Karnataka and Orissa have been suffering for a few quarters now. In Orissa too. though realizations improved dramatically from a year ago. In the June quarter. thanks to the sharp increase in realizations. Volumes were lower than the 7. strict controls on the shipment of iron ore fines from mid-May affected shipments. expansion projects. the company’s results were protected by higher realizations. In Goa. Sesa Goa’s volumes fell year-on-year (y-o-y). The company’s operations in Karnataka faced bigger problems.394 crore in the June quarter. with the controversy over illegal mining making life difficult for iron ore producers. primarily due to higher other income and lower income tax.4 million tonnes (mt).2 mt of this. this is due to external factors. revenue was flat despite a 27% drop in volumes. though it gained by 16 percentage points over the year-ago period. Mark to Market | Ravi Ananthanarayanan • Email Print • del. Also See Linked Fortunes (Graphic) Despite these setbacks. Apart from existing operations.4 mt it sold in the March quarter. Sesa Goa’s costs on railway freight.icio. while net profit tripled. On a y-o-y basis. due to external factors. As pointed out earlier. On an organic basis. export duties and royalty rates have risen. too. the iron ore price scenario has turned uncertain. slower growth in despatches affected its performance.4%. The uncertain operating environment is a key concern. Sales rose 140% to Rs2. The acquisition contributed to 1.

which. a top official of Sesa Goa (SG) – a Vedanta Resources-owned mining company based in Goa – Friday said it was virtually impossible to fight illegal mining in Goa because of ‘issues faced in pursuing such matters’. earnings estimates would have to be curtailed if iron ore prices continue to correct. ‘If I caught someone stealing ore in the past. Leader of Opposition Manohar Parrikar and civil society groups have accused Chief Minister Digambar Kamat.’ said Mukherjee. of shielding the illegal mining industry. who is also the minister for mines. I will not say anything more. As a result.’ Mukherjee said. simply could not be fulfilled in Goa. there were issues faced in pursuing the matter.com Sesa Goa faces uncertain ore prices Sesa Goa’s costs on railway freight. Prasun Mukherjee. amounted to 18 percent of the total ore export of nearly 40 million tonnes annually. Speaking at a function on ‘Mining and human rights’ here. admitted that Goa was affected by illegal mining but also added that SG had made several efforts to nab those involved in the trade and the efforts to bring the culprits to book were ’stonewalled’. ‘Whenever we have caught such (illegal) cargo. Graphic by Yogesh Kumar/Mint We welcome your comments at marktomarket@livemint. according to documents tabled in the assembly. we have faced issues while pursuing the matter. which according to government figures has become a Rs. Mukherjee. export duties and royalty rates have risen. Sep 3 – In an indirect criticism of the state government. I will leave it there.000 crore industry in the last four years. IANS . Higher duties on iron ore export are another threat. pointedly adding that he would not like to comment any further on the issue of illegal mining. But investors will focus on iron ore prices.4.956) per tonne against a cost of $25 per tonne—there’s enough headroom for the company. though it gained by 16 percentage points over the year-ago period ‘Illegal mining in Goa cannot be brought to book’ Panaji. managing director of SG. whose SG is the biggest mining outfit in the state – exporting nearly 20 million tonnes of ore – also said that the ‘due process’ required to bring the illegal ore dealer to book.Even if Sesa Goa delivers on the 20-25% volume growth it has projected. given its huge influence on Sesa’s share price. its operating profit margin fell by around 2 percentage points sequentially. The company’s shares have already corrected by 28% from its highs in April. At current levels of profitability—Sesa’s average realization was $84 (Rs3.

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