Weeks after it halted Vedanta Alumina Ltd’s mining project in Orissa, the
Supreme Court will soon weigh in on the issue in what many see as a possible
precedent-setting decision.
Acting on the
court’s own directions, Vedanta’s associate company, Sterlite Industries India
Ltd, has filed a fresh application. Meanwhile, a review petition has also been
filed by Oriya tribal activist Siddarth Nayak, a party to the previous
proceedings, seeking a review of the court’s order.
In issuing its previous order over Vedanta’s mining plans in Orissa’s Niyamgiri
Hills, the Supreme Court bench suggested Sterlite could file a fresh proposal
after forming what is called a special purpose vehicle, or SPV, with the Orissa
government, which would set aside 5% of net profits from mining activities, or
Rs10 crore, whichever is higher, for tribals in the area. It also suggested
other funds for wildlife and tribal development.
Such a ...