Vedanta Resources is a diversified and integrated metals and mining group with annual sales of $1.9bn. Its principal operations are located in India, where it has a major market share in each of our main metals: aluminium, copper, zinc and lead. There are also substantial copper operations in Zambia and 2 copper mines in Australia.

            Red = 25 day moving average.           Green = 200 day moving average.

                        

Copper - (6 month graph)

SALES PER ACTIVITY (Data as of 31/03/2006)

Copper:      60%
Zinc:         24%
Aluminium:  12%
Others:       4%

Hi Cynic
Are you going to wait see what happens next week before being tempted. However I must say the results this week was pretty impressive. Although I have noticed that some sells from the board of the company have been made today, makes you wondered whether today rise was engineered?

Cynic I have just realised its symmetrical triangle formation not ascending triangle

Someone in the rival website reckons there is rumour going that Kaz may bid??? Surely this would have been picked up the press.
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AVED.L&threshold=0&it=le&pageno=1

I read somewhere last week that the chairman had said something like "I would be sympathetic to a bid".

Could be an interesting week for the SP.

Stan this link refers to it i think
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/05/17/cnveda17.xml

Are you holding?

1St Quarter Results are out and look more than good for VED.

http://www.investegate.co.uk/Article.aspx?id=200707260701518980A

Starts with:

Revenue of $1.85 billion against $1.3 billion in corresponding prior quarter

Was thinking of a short term "Divi play" with this one but my feeling today is that the takeover froth may reduce this week (which I guess is about 2) so will have a further think until I have to make a decision. Also I'm very aware of some Market moving news this week.

Down 5% at the moment (other miners down 1% Average) anyone know why? Volume a bit more than their average as well. Also what looks to be a good update released this morning.

ved removed from merrill lynch "europe 1" list.

Yes I saw that, didn't say why did they )-:

Relative bad day for miners I believe.

Just limiting exposure to mining stocks.

Opened a long on this one and hoping for a short term profit.

Base metals all on the rise so should help the situation.

http://www.kitcometals.com/

nickel and copper both moving up.

Copper Rises in London on Speculation China Will Purchase Metal
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By Claudia Carpenter

Jan. 9 (Bloomberg) -- Copper rose in London, erasing this weeks loss, on speculation that Chinas State Reserve Bureau, the countrys stockpiling agency, will purchase the metal amid signs it started buying aluminum.

Aluminum inventory in warehouses monitored by the Shanghai Futures Exchange declined 18 percent in the past week, the largest decline since April 2007, figures from the exchange today showed. China will build emergency stockpiles of copper and other items to guard against potential supply disruptions, the Ministry of Land and Resources said two days ago.

There was a massive draw in Shanghai aluminum stockpiles and theres some market speculation that might be due to State Reserve buying, said Gayle Berry, an analyst at Barclays Capital in London. If theyre doing it for aluminum, certainly it makes it even more probable well see it for copper.

Copper for delivery in three months jumped $125, or 3.9 percent, to $3,320 a metric ton as of 12:51 p.m. on the London Metal Exchange, for a weekly rise of 2.8 percent. Aluminum fell $1.50 to $1,553.50 a ton, erasing an earlier gain.

The three-month copper contract is up 8.1 percent this year compared with a 1.2 percent increase in the UBS Bloomberg CMCI Index of 26 commodities.

On the LME, copper inventories jumped 5,875 tons to 363,575 tons, the most since Jan. 30, 2004, the exchange said in its daily warehouse report. Copper for March delivery rose 3.5 cents, or 2.4 percent, to $1.514 a pound.

Index Changes

Copper is also benefiting from purchases by index funds as commodity indexes are rebalanced, William Adams, an analyst at BaseMetals.com, wrote in a report today. Changes start today for the Dow Jones AIG Commodity Indexes.

Aluminum will account for 6.99 percent of the index under the new weightings, New York-traded copper 7.3 percent, zinc 3.1 percent and nickel 2.88 percent, Dow Jones-AIG said in August. At the close yesterday, aluminum made up 6.4 percent, copper 4.74 percent, zinc 2.15 percent and nickel 1.64 percent, according to information on the Dow Jones-AIG Web site.

Nickel dropped $145 to $11,400 a ton and zinc increased $14 to $1,249 a ton. Lead gained $35 to $1,184 a ton and tin fell $100 to $11,300 a ton. Lead and tin arent in the Dow Jones-AIG barometers.

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net or ccarpenter2@bloomberg.net

Last Updated: January 9, 2009 08:05 EST

i'd leave miners well alone until 2011

Bought this 24/03/09 for 651 sold last week at 1301 waited for it to drop to buy back in but it rose to 1366 this morning dont understand as mining stock has been poor for this week

That's better -):

Excellent trade though from 651 to 1301. Not quite sure what's going on with market at the moment, so your not alone there.

Wish I had hung on a bit longer close today 1539

http://moneyam.uk-wire.com/cgi-bin/articles/200906120700107804T.html

Market not impressed down over 7%.

Down today but still at 1606

Below 16 quid now.. a certain director falling over himself to get in I bet -):