OREANDA-NEWS. December 26, 2012. Sesa Goa Limited ("Sesa" or the "Company") announces that it has acquired the remaining 49% of the outstanding common shares of Western Cluster Limited ("WCL") from Elenilto Minerals & Mining LLC, Delaware, for a cash consideration of USD 33.5 million. Post this transaction, Sesa's shareholding in WCL increases to 100%.

WCL is a logical and strategic fit with Sesa's existing iron ore business and is expected to create significant long term value for all stakeholders. At WCL, exploration activities are progressing well, with over 42,000 meters of drilling completed till 30 November 2012. The project is on track for first shipment in FY2014.

Sesa is India's largest producer and exporter of iron ore in the private sector with operations in the states of Goa and Karnataka in India and a large integrated project site in Liberia, West Africa. Founded in 1954, for about 6 decades, Sesa has been involved in iron ore exploration, mining, beneficiation and exports. Sesa is a subsidiary of Vedanta Resources plc, the London-listed FTSE 100 global diversified natural resources major. Sesa also manufactures pig iron and metallurgical coke, with a 0.56 mtpa metallurgical coke plant and a 0.625 mtpa pig iron plant in Goa, and an associated 60 MW power plant.