INDIA WEIGHTED

27th February 2015 By: Martin Creamer - Creamer Media Editor

INDIA WEIGHTED

India, which has attractive fundamentals, is going to grow slower than China and from a much lower base, Vedanta CEO Tom Albanese is seen telling this month’s Mining Indaba. But, if, as projected in some circles, India’s gross domestic product doubles in next five years, the fortunes of India-rooted Vedanta Resources would likely soar. The London-listed diversified mining company produces not only oil, copper and iron-ore, with which markets are not particularly enamoured currently, but also zinc and aluminium, which are in sweeter current price spots. The former Rio Tinto CEO made the point that Vedanta is one of few companies able to generate positive free cash flow from oil in the $40/bl price range, and has most of its businesses in the first and second price quartile.