Cautionary Statement and Disclaimer

The views expressed here may contain information derived from publicly available sources that have not been
independently verified.

No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information.
Any forward looking information in this presentation including, without limitation, any tables, charts and/or graphs, has
been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be
relied upon as a recommendation or forecast by Vedanta Resources plc ("Vedanta"). Past performance of Vedanta cannot
be relied upon as a guide to future performance.

This presentation contains 'forward-looking statements' – that is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected future business and financial performance, and often
contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' or 'will.' Forward–looking statements by
their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of
financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and
metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and
global scale, including those of a environmental, climatic, natural, political, economic, business, competitive or regulatory
nature. These uncertainties may cause our actual future results to be materially different that those expressed in our
forward-looking statements. We do not undertake to update our forward-looking statements.

This presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of an offer
to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities in Vedanta or any of its
subsidiary undertakings or any other invitation or inducement to engage in investment activities, nor shall this
presentation (or any part of it) nor the fact of its distribution form the basis of, or be relied on in connection with, any
contract or investment decision.

2
© 2010, Vedanta Resources plc
TOUR OF INDIA OPERATIONS

February 2010
Itinerary

India Growth

Strategy

Operations

Sustainable development

Summary

3
Itinerary
India

SEL (Mon)

„ 2,400 MW IPP
„ First unit of 600 MW commissioning in
current quarter
„ Leveraging group skillsets

Jharsuguda smelter and CPP project

9

Niyamgiri Bauxite Mine

9 Lanjigarh refinery and CPP (VAL)

VAL (Mon/Tue)

„ Industry leading growth to 1.75mtpa

„ Integrated, structurally low cost
producer
„ Further 325 ktpa capacity at BALCO
post-expansion (existing:245 ktpa)

Aluminum Power Projects Under Development 9 Captive Power Plant

4
Itinerary

HZL (Tue/Wed) India

„ 1.065 mt integrated producer by

FY2011
„ World class resources, low cost
operations
„ Silver production growing
substantially
Rampura Agucha Open cast mine

Dariba and Sindesar Khurd Complex

Debari Zinc smelter
9 Zawar underground mine and CPP
Chanderiya zinc-lead smelters and CPP

Dariba and Sindesar Khurd Complex Jharsuguda Aluminum (VAL)

and Commercial Power project
9
„ Dariba Mine
„ Sindesar Khurd Mine 9 Lanjigarh mine and refinery (VAL)

„ 310 ktpa zinc-lead smelter project Vizag Zinc Smelter

„ 160 MW CPP Project

Aluminum Zinc Power Projects Under Development 9 Captive Power Plant

5
Itinerary

India

Rampura Agucha Mine

Project Centre Development
Debari smelter Dariba and Zawar Mines
9
Chanderiya smelters

Jharsuguda Aluminum (VAL)

and Commercial Power project
9

9 Lanjigarh mine and refinery (VAL)

SESA Goa (Thur)

„ Expansion to 50mt by FY2013

SESA Goa
„ Dempo acquisition being successfully
integrated
„ Pig iron expansion by mid FY2012

Aluminum Copper Iron Ore Zinc Power Projects Under Development 9 Captive Power Plant

6
Other Operations
Copper India/Australia

India
„ INDIA:
− Smelting capacity to grow from
400ktpa to 800ktpa by FY 2012
− CPP of 160MW
− Structurally competitive low
cost, port-based operations
„ AUSTRALIA:
− 11.3mt of reserves at 31/3/09

Rampura Agucha Mine

Project Centre Development
Debari smelter Dariba and Zawar Mines
9
Chanderiya smelters
9

Australia
Jharsuguda Aluminum (VAL)
and Commercial Power project
9

9 Lanjigarh mine and refinery (VAL)

SESA Goa

Tuticorin smelter
9 Mt. Lyell Mine

Aluminum Copper Iron Ore Zinc Power Projects Under Development 9 Captive Power Plant

7
Other Operations
KCM

„ World class resources (2.5% grade), India

25+ years mine life
„ Growing to 400+ktpa by FY 2012
„ Nchanga smelter achieved rated
capability
„ KDMP mid-shaft loading in Q4 FY2010

Rampura Agucha Open – Cast Mine

Dariba and Sindesar Khurd Complex

Debari smelter
9 Zawar underground mine and CPP
Chanderiya smelters
Zambia Australia

Jharsuguda Aluminum (VAL)

and Commercial Power project
9

Konkola Deeps underground mine 9 Lanjigarh mine and refinery (VAL)

Konkola and Nchanga open-pit and
underground mines
Nchanga Smelter and TLP
SESA Goa Mt. Lyell Mine

Tuticorin smelter
9

Aluminum Copper Iron Ore Zinc Power Projects Under Development 9 Captive Power Plant

8
 Integrated Global Operations cover the Value
Chain from Mine to Finished Product
India

Talwandi Sabo Power Project

Rampura Agucha Mine

Zambia
Debari smelter Dariba and Zawar Mines
9
Chanderiya smelters
Australia
Korba smelter
Jharsuguda Aluminum (VAL)
9
and Commercial Power project
9
Silvassa refinery
9 Lanjigarh mine and refinery (VAL)
•Konkola Deeps underground mine
•Konkola and Nchanga open-pit 9
Vizag smelter
and underground mines
Mt. Lyell Mine
•Nchanga Smelter and TLP
SESA Goa

MALCO
9
9
Tuticorin smelter
9

Aluminum Copper Iron Ore Zinc Power Projects Under Development 9Captive Power Plant

9 9
Itinerary

India Growth

Strategy

Operations

Sustainable development

Summary

10
India’s Mining Potential
Global Ranking of India’s Natural Resources1 2010E Aluminium production (kt)

17,040
Bauxite 4
(2.4 Billion tonnes)

Iron Ore
5
(24 Billion tonnes)

4,780
3,997
Coal 3,120

(253 Billion tonnes)

4 1,937 1,699 1,673
1,579
1,071 813

st

a
na

lia

ay
a

il

d
a

di
si

z
ic

an
ic

Ea

w
ra

ra
hi

us

In

fr
er

el
or
C

B
A
t
e
R
Am

us

Ic
N
dl

A
id
th

M
or
N

1 Based on reserves
Source: Investment Commission of India Source:Brookhunt

Exploration is a focus area for Vedanta

11
India Growth Story : GDP Growth
India has low GDP per capita… …growing at amongst the fastest rates in the
GDP growth rate
(2000 – 2009)
world
1.6% 1.4% 4.8% 3.1% 10.0% 7.1%

46,400

GDP (real) growth rate

(PPPterms) – 2009 (US$)

32,700

(2009-2014)
9.6%
GDP per capita

7.5%
15,200
10,200 3.6% 3.5%
6,500 2.4% 2.3%
3,100

USA EU Russia Brazil C hina India C hina India Brazil Russia UK US

Source: CIA World Factbook, IMF Source: International Monetary Fund, World Economic Outlook Database, October 2009

Increased government spending on …supplemented by private sector

infrastructure… % infrastructure spending by private sector
Total 68 80 97 120 149

160
30.1%
US$bn (at 2006-2007 prices)

140 CAGR: 22%

120 24.4% (US%154bn)
100
80 16.0%
60 19.8%
40 (US$43bn)
20 25.8%
0
2007-8 2008-9 2009-10 2010-11 2011-12
Energy Transportation Others Indian Govt. Plan (FY03-FY07) Indian Govt. Plan (FY08-FY12)

Note: Energy includes electricity and gas, Transportation includes roads, ports, railways & airports, Source: Projections of Investment in Infrastructure during the Eleventh Plan available on
Others includes telecom, irrigation, water & storage http://www.infrastructure.gov.in/

12
India Growth Story : Base Metal Growth
Aluminium Consumption per Capita CAGR: 2010-2014 (%) 2010 (kg) 2014 (kg)

11.0% 9.4% 6.3% 6.6% 6.6% 7.9%

Potential for 17.1

14.6 13.8
significant 12.3 11.6 11.2
growth
6.3 7.4
5.2 5.7
1.2 1.8

(1)
India China Europe North America Asia Global

Copper Consumption per Capita CAGR: 2010-2014 (%) 2010 (kg) 2014 (kg)

9.4% 7.1% 4.4% 3.7% 3.6% 5.4%

Potential for 6.5 6.8 6.4

significant 5.9 5.8
5.1
growth
3.2 3.5 3.1
2.7
0.6 0.7
(1)

India China Europe North America Asia Global

GDP and infrastructure growth translating into high growth in metal consumption

Source: CRU, Global Insight

Note (1) Excluding India and china

13
Commercial Energy Opportunity
India: continued power shortage Per capita consumption
India energy deficit – peak capacity
World Average 2,701

Demand ('000 MW) Supply ('000 MW)

OECD 8,795

109 110 Asia 2,227

101

93 Latin America 2,032

88 97
85
81 91 Middle East 1,841
78 78
87
73 82
68 78 China 1,684
65 75
72
68 69
64 India 618
58 58

Africa 478

97- 98- 99- 00- 01- 02- 03- 04- 05- 06- 07- 08-
98 99 00 01 02 03 04 05 06 07 08 09

Source: Ministry of power

Source: World Energy Statistics , 2008

14
Itinerary

India Growth

Strategy

Operations

Sustainable development

Summary

15
Corporate and Financial Strategy
Corporate Strategy

Optimise performance of
Rationalise group structure
existing assets

Pursue organic Leverage established skills &

growth opportunities seek additional investment
opportunities

Financial Strategy

Maintain robust liquidity and Fund raising through combination of

balanced debt maturity profile equity and debt from diverse sources

Robust financial discipline to work within investment grade rating metrics

16
Industry Leading Organic Growth
Target

2008-09 production Exit capacity Completion Sustainable cost

Zinc-Lead 617 ktpa 1,065 ktpa 2010-11 Lowest quartile

Silver 3.38 m oz 16 moz 2012-13 Co-product

Copper
313 ktpa 800 ktpa 2011-12 Lowest quartile
India

Copper
133 ktpa 400+ ktpa 2011-12 Lower half
Zambia

Aluminium 462 ktpa 2,500 ktpa 2012-13 Lowest decile

Iron Ore 16 mtpa 50 mtpa 2012-13 Lowest quartile

Commercial
376 mu 5,500 MW* 2013-14
Energy

* Includes 2400MW at Jharsuguda, 1980MW at Talwandi Sabo and 1,120MW surplus at BALCO, MALCO and HZL wind power

17
Continued Focus on Exploration
Reserves and Resources (million tonnes)
Hindustan Zinc

- 46.3+mt addition in R&R (4.0mt contained metal) in

FY2009 310
Sesa Goa
- Current R&R of 272mt (31.5mt contained metal)
mine life of 25 yrs)

Sesa Goa 272.2

HZL
- 57.8+ mt addition in R&R against depletion of 15.8mt 176.02

in FY2009

- Current R&R of c.310mt (240mt of Sesa and 70mt 470.8

from Dempo Acquisition) KCM

449.8

KCM
- 16+ mt addition in R&R 471mt of R&R, avg. grade of 100 250 400 550

2006 2009
2.5%, 12mt of contained Cu

- 25+ years average mine life

Adding much more resources Significant Mine Life even
than mining out at Full Capacity
Reserves and resources as of 31 March 2009

18
Disciplined Approach to Acquisitions
Acquisition Philosophy
￭ Acquisitions in similar lines of business
￭ Assets that offer Vedanta transformational opportunity by reducing cost and and/or substantially growing volume

Sesa Goa Acquisition - Iron Ore

￭ Acquired 51% stake in Sesa Goa in 2007 for US$ 981 million
￭ Natural fit for Vedanta - leverage mining and project management skills to grow production and reduce costs
￭ Increased production from 10 mt in FY 2007 to 16 mt in FY 2009 with nominal capex
￭ Leveraging the platform to become 50mtpa iron ore producer by FY 2013

Dempo - Bolt-on Iron Ore Acquisition

￭ $368m acquisition of Dempo’s iron ore assets completed in June 2009

￭ Mines, mining leases and related infrastructure in Goa is complementary to existing assets

￭ Significant scope for synergies with Sesa operations, especially in transportation and logistics

Konkola Copper Mines, Zambia

￭ 180 kt integrated copper producer acquired in 2004

￭ Opportunity - unlock potential of KDMP and upgrade smelter

￭ Investing $1.1bn to increase production to 435kt by FY 2012, and lower costs to c. $1/lb

19
Structural Low Cost Advantage
Operations Projects

Vedanta Global
Resources World class Projects Capex Capacity Average Average

Alumina $1.0bn 1.4 mtpa $725/t $887/t

Integrated
Mining, power, smelting
Operations
Aluminium $1.1bn 500 ktpa $2,200/t $4,557/t
Continuous
Operational
improvement, Value
Expertise
from by-products
Captive $1.0bn 1,215 MW $825/kw $1,500 to
Power Plant $2,000/Kw
People Quality / Experience

Sustainable competitive position

20
Disciplined Financial Policies

„ Pre-funding of capex Pre-funded capex program

Capital requirements to FY12($bn)
Funding „ Access to diverse capital markets

„ $6.8 bn of Group cash at 31 Dec 2009

Liquidity „ Well balanced debt maturity profile
12.8 12.7
SEL IPO proceeds
1.1 (prospectus filed)
Conservative „ Net debt to EBITDA <= 2.5x, currently 0.9x Debt
2.7
maturity
Financial „ Gearing1 ratio of not more than 40%,
Metrics current 9.0%
Minority 4.8 Project finance
buyouts 2.4 secured
„ Benchmark capital costs and timeframes
Project „ Conservative approach to capital allocation

„ Selective acquisitions in the same line of

Business
Acquisition Capex
„ Underperforming assets with 7.7
6.8
Cash on hand
transformational opportunity
„ Project Deferral/cost reduction of $5.3bn
„ Closed down high cost aluminium smelters
Response to at BALCO and MALCO
Downturn
„ Sale of surplus energy at attractive Funding Resources
merchant tariff Requirement

Note : (1) net debt / total equity plus net debt Position as at 31/12/2009. In February 2010 debt of $1.1 bn retired

21
Itinerary

India Growth

Strategy

Operations

Sustainable development

Summary

22
ALUMINIUM OPERATIONS

23
Aluminium Overview
India has 4th largest reserves of coal (c.253 bn t) and
„ Reserves and Resources of 116mt – 38 mt 4thlargest reserves of bauxite (c.2.4 bn t) in the world(1)
at Balco and 78 mt at Niyamgiri
„ MoU with Orissa state for supply of 150 mt
Bauxite of Bauxite at VAL
Mines

■ Phase I: Current alumina refining capacity of

1.4 mtpa; Capacity expected to increase to
2.0 mtpa by Q4 FY2010
Alumina
Refinery
■ Phase II: Additional 3.0 mtpa by mid-2011
2
Jharsuguda

„ VAL: Current aluminium smelting capacity of

250 ktpa, to increase to 500 ktpa by Q4
FY2010 and further addition of 1,250 ktpa by
Orissa
September 2012
Aluminium „ BALCO: Current capacity of 245ktpa, 325 kt
Smelter addition by September 2011 1
Lanjigarh

1
„ Capacity post expansion: 3,525 MW (300
MW in Lanjigarh , 1,215 MW in Jharsuguda
and 2010 MW at Balco) Niyamgiri mine and
1
„ Coal linkages in place Lanjigarh refinery
Captive „ Deferred 1,980 MW CPP at Jharsuguda
Power Plants
2 Jharsuguda Aluminium Smelter

Captive Power Plant

Note. 1. Source : Investment Commission of India

24
Clearly Defined Path to 2.5 mtpa
Bauxite Alumina Aluminium Power

Alumina Aluminium CPP’s

Bauxite Mines Refinery Smelter

116.2 mt 5.0 mtpa 2.5 mtpa 3,255 MW

ƒ Received Supreme Court of ƒ 1.4 mtpa refinery : ƒ 245 ktpa at Balco and 250 ƒ 540 MW : Current
India’s approval : August Current Capacity ktpa at VAL : Current capacity BALCO
capacity
2008 ƒ 1,215 MW VAL
ƒ 0.6 mtpa refinery de-
ƒ 250 ktpa at VAL : Q4 FY (Jharsuguda) : Last two
ƒ Final permit expected for bottlenecking ; Q4 FY
2010 units to be commissioned
Niyamgiri hills bauxite 2010 : Q4 FY2010
mine : End FY 2010 ƒ 325 ktpa at Balco: Q2 FY
ƒ 3.0 mtpa : Mid 2011 ƒ 300 MW VAL (Lanjigarh) :
2012
Current 90 MW, balance
ƒ 1,250 ktpa at VAL : Q2 210 MW :Mid-2011
FY2013 ƒ 1,200 MW at Balco , first
unit to be commissioned
:Q3 FY 2011 and full
completion by Q2 FY2012

Note: Bauxite:150mt MOU with Orissa Government

Balance smelter capacity through debottleneckings

25
Comparison of Global Aluminium Producers

Operating Parameters Alcoa Rusal Chalco Vedanta 1

Alumina refining capacity ktpa 18,202 14,000 11,077 5,000

Aluminium smelting capacity ktpa 5,088 4,586 3,991 2,500

2010 Etimated production ktpa 3,479 4,193 3,579 NM

2010 Estimated costs US$/t 1,569 1,325 1,811 900-1100 2

1. Post expansion capacity

2. Alumina cost of $250 (2x$125) and smelting cost of 650-850 based on commodity cycle/input price

Source: Vedanta for VAL numbers, Brookhunt for other companies

26
ENERGY OPERATIONS

27
Competitive Advantage in Energy
Strategically Located in Coal Rich Parts of India
„ Experienced Project Teams
− Building power plants since 1997
− Have built and currently building 8,800Mw Korba,
power plants Chattisgarh
Talwandi-Sabo -
− Benchmark capex costs and timelines Punjab

„ High Performing strategically located Power

Plants
− Operating capacity c2,500 Mw
− c.96% PLF at operating power plants
− Major plants located in coal rich belt and Jharsuguda,
Talwandi Sabo in power starved state Orissa
− Early mover advantage – currently realising
c.10 cents per unit

„ Coal Sourcing
− India has abundant coal
− Linkages in place
States with > 25 billion tons coal reserves
− 323 mt coal blocks under development
States with > 8 billion tons coal reserves
− Transport infrastructure being further
strengthened to improve coal efficiency
Source: Ministry of Coal

28
Commercial Energy - Performance
Energy capacity (MW)
Energy Sales Talwandi Sabo C apacity
Existing C apacity (Balco,Malco and Wind Power)
Power Sales (MU)
SEL C apacity
981 1,980
660
493 493 493 493

2,400 2,400 2,400 2,400

493
234 600
141
2010e 2011e 2012e 2013e 2014e

H1 09 H2 09 H1 10 Note: (1) Capacities in 2010e and beyond refer to exit rates

Existing Capacity
-BALCO :270 MW
EBITDA ($mn) -MALCO : 110 MW (Expanded to 125 MW)
-Wind Energy :123 MW

59.1 Expansion projects Expected Completion

Jharsuguda
2,400 MW Thermal IPP Q3 FY2011
- first unit to be commissioned by
25.4
Q4 FY 2010
Talwandi Sabo Q2 FY 2014
7.1
1,980 MW Thermal IPP
- first unit to be commissioned by
H1 09 H2 09 H1 10
Q4 FY2013; 660 MW*3, Super-critical

Total excess capacity at BALCO : ~ 1,120 MW

29
ZINC - LEAD - SILVER
OPERATIONS

30
World Class Zinc Mining Assets
Rajpura Dariba Mine Kayar Mine (Planned) Rampura Agucha Mine

Lead-Zinc Ore R&R: Reserves: Lead-Zinc Ore R&R: Reserves:

Resources: 9.01 Mt, 67.9 Mt
7.4Mt
Avg: 10.6%, Zn,1.7% Pb Resources: 50.8 Mt
Resources: 19.4 Mt
0.3 mtpa Capacity Zinc Grade: 13.09%
Zinc Grade: 4.98%
Lead Grade: 1.44% Lead Grade: 1.91%
Ore Production Capacity: Ore Production Capacity:
0.9 mtpa. 5.0 mtpa. Will increase to 6.0
mtpa

Sindesar Khurd Mine

Lead-Zinc Ore R&R: Reserves: Zawar Mining Complex

6.4Mt
Resources: 50.2 Mt Lead-Zinc R&R:
Zinc Grade: 4.84% Reserves 7.2 Mt
Lead Grade: 2.29% Resources: 48.5Mt
Silver Grade: 176 ppm Zinc Grade: 3.34%
Ore Production Capacity: Lead Grade: 2..01%
0.3 mtpa. Will increase to 1.5 Ore Production Capacity: 1.2 mtpa
mtpa CPP: 80 MW

At expanded capacity of 10mt of ore per year, current

reserve and resource base is sufficient for 27 years
31
 World Class Zinc Smelting Assets
Chanderiya Smelting Complex Zinc Smelter Debari

Pyrometallurgical Lead Zinc Smelter: Hydrometallurgical Zinc Smelter:

105,000 tpa Zinc 88,000 tpa Zinc
35,000 tpa Lead 150 tpa Silver
Hydrometallurgical Zinc Smelter: 420,000 tpa
Zinc
AusmeltT M Lead Smelter: 50,000 tpa Lead
Captive Power Plant: 234 MW
Wind Power plant

123MW in Gujarat and Karnataka

Dariba Complex – Phase III

Hydrometallurgical Zinc Smelter:

210,000 tpa Zinc Zinc Smelter Vizag
Lead Smelter
100,000 tpa Lead Hydrometallurgical Zinc Smelter:
Captive Power Plant: 160MW 56,000 tpa Zinc

Note: Dariba Smelting Complex is under implementation

32
Zinc-Lead-Silver
Production and cash costs
Mined Metal (kt)
Production and proposed capacity
Production Lead (kt) Production Zinc (kt)
Refined Metal (kt) Zinc C ash C ost ($/t) C apacity Lead (kt) C apacity Zinc (kt)
1,064

906 754
847
741 782 612
672 879
484
669
375 552
315 314 346 389 426
281 337 311
213 271
185
58 60 85
2008 2009 2010e 2011e

H1 08 H2 08 H1 09 H2 09 H1 10
Note: (1) Capacities in 2010e and beyond refer to exit rates

EBITDA Expansion projects Expected Completion

Mine Expansions
EBITDA ($mn) EBITDA Margin
77% - Rampura Agucha (5 to 6mtpa) Mid 2010
66% - Sindesar Khurd (0.3 to 1.5mtpa) Progressively from 2010 to 2012
58% 57%
- Kayar Mine (0.3 mtpa) 2013
- Smelter Expansions
36%
- 210ktpa zinc smelter Mid 2010
740.4 639.7
451.2 - 100ktpa lead smelter Mid 2010
373
154.2 - 160MW CPP Mid 2010
- Silver refinery Mid 2010
H1 08 H2 08 H1 09 H2 09 H1 10
Note: (1) First production from mid 2010

33
Silver performance

■ FY 2008-09 production 3.4 million ounces, contributing

Silver production (million ounces)
USD 45 million in EBITDA

■ Silver production will increase to16.1 million ounces in

2013, post completion of ongoing expansion projects

■ Increased silver production is attributable to

− Increased mine volumes from Sindesar Khurd Mine

which is rich in Silver (Average Silver grade is 176 ppm 16

14
in ore)
8
− Increase in mining production
3
− Improvement in silver recovery in smelters & mines

■ Silver is treated as co-product in cost of production 2010e 2011e 2012e 2013e

computation, thus entire 16.1 million ounces of silver

value travels to the bottom line

■ At current price this implies an EBITDA of ~$290 millions

34
IRON ORE OPERATONS

35
50 mtpa of Iron Ore Production – 2012

Region – wise share in total production volumes Iron Ore production Ranking
2009
Rank Company Mt

1 Vale 253.1

2 Rio Tinto 217.6

3 BHP Billiton 137.0

th
60 row 50.0
g 4 Anglo American 42.0
0%
20
5 FMG 35.0
10
40 12.4
16.0 6 Cliff Natural Res 32.3
10
7 Metalloinvest 32.0
10
8 NMDC 31.0
20 2
2 2.8 9 CSN 30.9
1.9 20
8.5 11.2
10 ArcellorMittal 30.6
0
11 Metinvest 28.5
FY2008 FY 2009 FY 2012
12 SAIL 25.0
Goa - Sesa Karnataka Orissa Goa - Dempo 13 Sesa - Vedanta 18.5*

14 LKAB 18.0
Sesa is on course to be world’s top five iron
ore mining companies Note: All figures are in million tonnes (Mt)
Source: Metalytics
* Actual Sesa production

36
Iron Ore Operations
Production Production and Capacities 50
Production (mt)
Production (mt) Exit C apacity (mt)
40

30
16 25

8.2 12
7.1 8.8
7.6
3.7

H1 08 H2 08 H1 09 H2 09 H1 10 2008 2009 2010e 2011e 2012e 2013e

Notes: (1) Capacities for H1 2008 represents capacity for post acquisition period of five months Note: (1) Capacities in 2010e and beyond refer to exit rates
(2) Capacities in 2010e refer to exit rate

EBITDA ($mn) Expansion projects

507.5
Iron Ore Expansion

322.9
- Expand to 50mt by 2013
234.2
Pig Iron Expansion
130.4
78.1 - 375 kt; c$150 million cost
- Completion by Mid 2011
H1 08 H2 08 H1 09 H2 09 H1 10

Note: (1) EBITDA for H1 2008 represents EBITDA for post acquisition period of 5 months

37
COPPER OPERATIONS

38
Copper-India and Australia
Copper India Production and cash costs(1) Copper India production and proposed capacity(1)
Production (kt) Estimated Production (kt)
C ash smelting costs (USc/lb) 800
10.0 10.9
Production (kt) Exit C apacity (kt)
5.9

400
(2.4) 339 313
(4.9)
172 164 169
167
149

H1 08 H2 08 H1 09 H2 09 H1 10 2008 2009 2010e 2012e

Note: (1) Capacities in 2010e and beyond refer to exit rates

EBITDA ($mn) Copper India Expansion

400 ktpa Smelter and 160 MW captive power plant

231.4
182.2 - ISA Technology – Same as existing Smelter
145.5

62.3 70.0 - Project Cost ~$500 million

H1 08 H2 08 H1 09 H2 09 H1 10 - Completion by mid 2011

39
Copper - Zambia
Key assets
Konkola (Chililabombwe)
KDMP (Underground Mine – 3 shafts)
New Concentrator

Nchanga (Chingola)
Underground Mine (2 shafts)
Open Pit Mine
2 Concentrators
Tailings Leach Plant (SXEW)
New Smelter

Nkana (Kitwe)
Refinery
Decommissioned old smelter

Nampundwe
Underground Pyrite Mine

2004 2005 2008 2009 2010

Vedanta buys Work commences on Vedanta increases Commissioning of a

majority stake in Konkola Deep stake (79.4%) new smelter (Nchanga)
KDMP Mid-shaft
KCM (51%) Mining Project & Concentrator
Loading to
(KDMP) and (Konkola)
commence
Nchanga Smelter
40
KCM – Overview
World class resource
471mt of Reserves and Resources
12mt of contained Cu, 25+ years average mine life
Konkola mine grade of 3.6%; average KCM grade of 2.5%

Well invested production facilities

Nchanga smelter achieves rated capability in capacity and recovery
KDMP mid-shaft loading – 31 March 2010; Project on track
$1.5 bn capital investment

Key deliverables
Growth from 133kt production in FY2009 to exit capacity of 400+ kt in FY2012
Further cost reduction and stabilization, targeting < $1.00 / lb in cash cost
Resource growth through exploration

Largest mining investment in Zambia

Strong working relationship with Zambian government
Healthy labour relations
Committed to training and developing Zambia’s workforce
Local communities: health, education and welfare programs

41
KCM - Resources and Mine Life
￭ Konkola Mine – “Tier 1” resource with one of the largest open-ended high grade ore body

￭ Nchanga mine life enhanced through Upper Ore Body (UOB) project

￭ Large stock pile of refractory ore (CRO) – plant scale process ability established – low
cost operation

￭ Focus on exploration – 40,000m drilling per year till 2012

￭ Significant additions in reserves expected over next two years

Reserves & Average

Cont. Cu LoM
Area Resources Grade
(Million T) (Million T) % Years
Konkola Underground 228 8.1 3.6% 30+
Nchanga Open Pits 171 2.4 1.4% 12+
Nchanga Underground 72 1.5 2.1% 22+
Total 471 12.0 2.5%
Tailings 80 0.6 0.7% 10+
Refractory Ore (CRO) 150 1.3 0.9% 16+
Note : As of 31 March 2009

42
KCM -Projected Ramp-Up and Key milestones

Production Exit capacity 400+ kt

350+ kt

275 kt

133 kt

FY 2009 FY 2010 FY 2011

FY 2012

„ TLP 4 Project „ Nchanga underground „ KDMP development

„ Opening of open pit mine 66 UOB project ramp-up
(COP-A) 79 „ 2nd Cobalt recovery „ KDMP Bottom shaft
Key Milestones
„ Nchanga Smelter achieves furnace project loading
full ramp-up „ New expanded Nchanga „ TLP 5 Project
„ KDMP Mid-shaft loading Concentrator
„ CRO Project (50Ktpa) „ Opening of open pit mine
(Mimbula and Kakosa)

43
KCM - Investment Cornerstones
Project Description Capacity Status

„ State-of-the-art technology
New smelter at
1 „ Benchmark Sulfur Capture 311 ktpa Commissioned
Nchanga

„ Enhanced mining up to 1,500 M depth

100% sinking
„ Mine life extension to 30 years 7.5 mtpa at
2 KDMP for MSL (95% of
3%+ Cu
total) completed

New „ Caters to enhanced mining out put 6 mtpa

3 concentrator at „ Improved recovery processing Commissioned
Konkola capacity
„ Improved Concentrate grade

„ Increase capacity at current facility Under

4 TLP 4 Expansion 75 Ktpa
Development

„ Harnesses 150mt Refractory ore stock

CRO project at pile Under
5 50 Ktpa
Nchanga Development
„ Uses entire acid from Nchanga Smelter

New „ Caters to enhanced mining out put 7.5 mtpa

Under
6 concentrator at „ Improved recovery processing
Development
Nchanga „ Improved Concentrate grade capacity

44
KCM -Performance
Production (kt) C ash C osts ($/lb) Cost Reduction Drivers
2.88
2.22
1.90 1.92 1.69 „ Increased production
79
71 73 78 „ Cost mix change with lower-cost CRO / TLP
60 production
„ Restructuring with associated manpower
reduction
„ Bringing in world class contractors
H1 08 H2 08 H1 09 H2 09 H1 10
„ Higher recoveries from new concentrators;
Manpower Power & fuel
higher by-product credits from cobalt
Raw materials & consumables Repairs & maintenance, others
„ Overall discipline
Administration Target exit cost

2.88 „ Costs peaked in mid-2008 in part due to

commodity inflation and FX fluctuations
2.22
1.92 1.25 to
„ Production stabilized and ramp-up with new
1.69 1.35
smelter
„ Production impacted by KDMP shaft
development

FY08 H1 09 H2 09 H1 10 FY10

Note : cash cost in $ / lb

45
Itinerary

India Growth

Strategy

Operations

Sustainable development

Summary

46
Sustainable Development – Our Approach
Environmental Stewardship
Respect for nature, enhanced resource conservation and use of
environment friendly technology are embodied in our working

Empowering Nurturing People

Communities People are our key assets.
Communities are integral to We are committed to build a
our business. Committed to flexible, flat and learning
enhancing the quality of life organization with an
of the communities near our engaged and high
operations and creating self performing work force. We
sustaining communities. We believe in nurturing and
work to gain and nurture mentoring leaders from
our social license to operate within. Growth based on
in the host communities meritocracy, performance
and integrity

Health and Safety

We are committed to providing a safe, secure and healthy
workplace by using the best technology and practices

47
Sustainable Development – HSE Performance
Safety LTIFR
5.5
„ LTIFR for 2008-09 at 1.67 viz 5.5 during 2004-05 a reduction of 70% during 4 years
3.84
„ Tragic accident at BALCO–SEPCO CPP Project site in September 2009
2.51
1.91 1.67
„ Association with safety consultant / auditors
− British Safety, DuPont, Chilworth, IRCA, E&Y, KPMG
2004-05 2005-06 2006-07 2007-08 2008-09
Water
„ Continuous reduction in specific water consumption across businesses since 2004-05. Specific water consumption (m3/MT)
37.47
Reduction over last 4 years 31.85
25.89
− HZL 50% 22.65
16.62
− BALCO 47%
− SIIL 12%

2004-05 2005-06 2006-07 2007-08 2008-09

Energy
„ Continuous reduction in specific energy consumption across businesses since Specific energy consumption (GJ/MT)
2004-05. Reduction over last 4 years 101.1
93.36
− HZL 44% 74.07 70.87 68.21

− BALCO 36%
− SIIL 20%
„ 123 MW Wind Power Project
2004-05 2005-06 2006-07 2007-08 2008-09
„ 65 MW of Waste heat based energy generation capacity

48
Sustainable Development – CSR Performance
Key outcome /Impact

„ 427 villages, 2.5 million people positively impacted

„ 75 villages under the integrated Village Development Program

„ 1,700 Child care centre benefiting over 100,000 children (upto 6 years)

„ 2 million vocational training hours for the unemployed rural youth

„ 45,000 persons enrolled for computer education and adult literacy

„ 1,337 Self Help Groups, 19,000 members, earnings supplemented

„ 180,000 children covered under the Mid-Day meal programme

„ 3,360 farmers trained in agricultural improvement program

„ Health care services outreach to 1,500,000 people

„ 82 NGO partners, 96 CSR personnel and 454 extension workers

49
Itinerary

India Growth

Strategy

Operations

Sustainable development

Summary

50
Summary

Industry leading organic growth under implementation

Delivering India's natural resources and feeding India's rapid demand growth

Structural low cost advantage and asset optimisation

Ongoing rationalisation of the group structure

Strong financial position for maximum financial flexibility

51
APPENDIX

52
 Group Structure

Vedanta Resources
(Listed on LSE)

79.4% 70.5% 53.9% 93.9% 57.1%

29.5% 3.1%
Sterlite Industries Sesa Goa
Konkola Copper Madras Aluminum
Vedanta (Listed on BSE (Listed on BSE
Mines (KCM) (MALCO)
Aluminium (VAL) and NSE and NYSE) and NSE)

100%

VS Dempo
and Company
100% Private Limited
51.0% 64.9% 100%

Hindustan Zinc
Bharat Sterlite Energy Australian
(HZL)
Aluminium (DRHP filed) Copper Mines
(Listed on BSE
(BALCO)
and NSE)

Aluminum Copper Zinc Power Iron ore

Structure as at 30 September 2009

53