Sesa Goa Released Production Release for 4Q

OREANDA-NEWS. April 10, 2012. Sesa Goa Limited ("SGL" or the "Company") today announced its unaudited consolidated production release for the Fourth quarter ("Q4") and full year ended ("FY2012") 31 March 2012.

Sales of Iron Ore in Q4 were 5.2 million tonnes as compared with 6.6 million tonnes (6.4 million tonnes excluding Orissa) in the corresponding prior quarter due to the continued mining ban in Karnataka, and transport and logistics bottlenecks in Goa. We are expanding existing roads and establishing road corridors at Goa to reduce these bottlenecks. For the full year, sales were 16.0 million tonnes as compared with 18.1 million tonnes (16.4 million tonnes excluding Orissa) during the corresponding prior year.

The Karnataka mining ban is being heard by the Supreme Court. At Karnataka, we sold 0.2 million tonnes and 0.9 million tonnes during Q4 and H2, respectively, through the Court- sponsored e-auctions of inventory.

Production of Iron ore in Q4 was lower by 11% at 4.9 million tonnes. Production for the full year was 13.8 million tonnes compared with 18.8 million tonnes (17.4 million tonnes excluding Orissa) in the previous year. Volumes were lower primarily due to the Karnataka mining ban and the discontinuation of Orissa operations.

Expansions of the pig iron capacity to 625 ktpa and metallurgical coke capacity to 560 ktpa are progressing well and will be commissioned in the current quarter.

Consolidated Production Summary (Unaudited)

1. Iron Ore sales include internal sales of 0.10 million tonnes in Q4 FY 2012 vs 0.00 million tonnes in Q4 FY 2011, and 0.30 million tonnes during FY 2012 vs. 0.30 million tonnes during FY 2011