OREANDA-NEWS. February 17, 2011. Sterlite Industries (India) Limited ("Sterlite") announces the completion of the acquisition of the Lisheen Zinc Mine ("Lisheen") in Ireland from Taurus International S.A., a member of the Anglo American plc group ("Anglo American") for a share value of approximately USD 546 million, which includes approximately USD 275 million against cash balance available at Lisheen as on date.

On 10 May 2010, Vedanta announced the proposed acquisition of Anglo American's Zinc Assets ("Anglo Zinc") for a total cash consideration of USD 1,338 million, on an attributable, debt and cash free basis. Anglo Zinc comprises the 100% owned Skorpion mine in Namibia, the 100% owned Lisheen mine in Ireland and the 74 % owned Black Mountain Mines, which includes the Black Mountain mine and Gamsberg project in South Africa. The acquisitions of the Skorpion mine and Black Mountain mine were completed in December 2010 and February 2011, for cash considerations of approximately USD 707 million and USD 348 million respectively.

The Lisheen acquisition completes the acquisition of all the three Anglo Zinc assets.

Anglo Zinc is an excellent operational and strategic fit with our existing business and will create significant long term value for shareholders. This acquisition will consolidate our position as the world's largest integrated zinc - lead producer with significant reserves and resources of 478 million tonnes.

Commenting on the transaction, Anil Agarwal, Chairman said: " We are pleased to have completed the last leg of the Anglo Zinc acquisition. We welcome the Anglo American Zinc team and look forward to working towards growing the business."