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Vedanta Resources Sells Stake in HudBay Minerals to Investors

Dec. 18 (Bloomberg) -- Vedanta Resources Plc, an Indian oil and metals producer, sold its stake in HudBay Minerals Inc.

“Vedanta sold its total share position of approx 15 million shares to a diverse collection of institutional shareholders,” HudBay Chief Executive Officer David Garofalo said in an e-mail today.

Vedanta said in 2009 that a subsidiary controlled 9.5 percent of Toronto-based HudBay, a miner of zinc, copper, gold and silver, as closely held Vedanta sought to expand in North America.

E-mails sent to London-based Vedanta’s corporate communications office weren’t immediately returned.

HudBay fell 4.8 percent to C$9.87 in Toronto. The shares have slumped 2.7 percent this year.

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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