Victory for Niyamgiri Hills Tribes: Church of England sells Vedanta shares

Business News This Week: In a significant development in the Vendata's mining project in Odisha (Orissa), the Church of Egland has sold $5.9 million shares in Vendanta resources. The Church of England had invested in the shares of the Vedanta for last six months.  The bauxite mining project by the Vedanta is being protested by the tribes of the Niyamgiri Hills.

According to the media reports, the project in the Niyamgiri Hills is threat for the wildlife in the forest and moreover the tribes will loss their earning from the forest and land. Considering the protests and reportedly violation of human rights, the Church of England has decided to sell its holdings in the bauxite mining project in Orissa by the Vedanta. Even some of the tribes from state of Orissa reportedly protested against the project in Niyamgiri Hills in England. It's certainly a victory sort of thing for the tribes those have been protesting against the project. The pressue on the investors of the proejct is said to be mounting.