`We look for assets where we can add value`

Q&A: Anil Agarwal, executive chairman, Vedanta Resources

On what it brings for Sterlite:
Copper is a good business. We have a capacity to produce 400,000 tonnes of copper in India, 50,000 tonnes in Australia, 250,000 tonnes in Africa, and now, 235,000 tonnes in the US.

This will make us a significant player in the world, the third largest player in copper after Codelco and Freeport McMoran. This is the largest acquisition in the US by an Indian company.

On his vision:
We are excited by the opportunity. We want to be a significant metals and mining company. We want to be the ambassadors from India. Five years back (December 2003), we listed Vedanta on the London Stock Exchange. Today, we are a FTSE-100 company. We want India to emerge as a good hub for metals and mining.

On acquiring remaining stake in Balco & Hindustan Zinc:
The government has initiated the process of mediation. We are not in a hurry; we already have the majority stake in these companies. We feel this (divestment of minority stake) should happen soon, perhaps in the next three to six months.

On Orissa projects getting stuck:
That's not true. We have recently commissioned phase one of the aluminium smelter at Jharsugada, a year ahead of schedule. The 1.4-million tonnes per annum alumina refinery at Lanjigarh is already in operation since last year.

We are still awaiting permission to mine bauxite to feed the alumina plant. There are cultural issues and difficulties. We are talking to people all the time.