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Vedanta bags India's first gold mine auction


Reuters  |  New Delhi 

Vedanta Ltd has won India's first-ever auction of a gold mine, a provincial government official said, as the nation opens up the sector to private companies to curb overseas purchases of the metal that cost it $36 billion last year. Vedanta, a unit of London-listed Vedanta Resources, beat three other bidders in the auction of the Baghmara mine in the eastern state of Chhattisgarh, the head of the state's directorate of geology and mining, Reena Kangale, told Reuters on Saturday.Read more from our special coverage on "VEDANTA"Vedanta wins countrys first gold mine auction in ...

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First Published: Sat, February 27 2016. 22:32 IST