Document:

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                                                                    Exhibit 10.3

                                5 DECEMBER 2003

                             VEDANTA RESOURCES PLC

                      STERLITE INDUSTRIES (INDIA) LIMITED

                     STERLITE OPTICAL TECHNOLOGIES LIMITED

                             STERLITE GOLD LIMITED

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                            SHARED SERVICES AGREEMENT

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                      (FRESHFIELDS BRUCKHAUS DERINGER LOGO)
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                                    CONTENTS

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CLAUSE                                                                      PAGE
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1.      DEFINITIONS AND INTERPRETATION........................................2
2.      SERVICES..............................................................2
3.      CONDITION PRECEDENT...................................................2
4.      CHARGES...............................................................2
5.      DURATION..............................................................3
6.      TERMINATION...........................................................3
7.      CONSEQUENCES OF TERMINATION...........................................4
8.      LIABILITY.............................................................5
9.      FORCE MAJEURE.........................................................5
10.     CONFIDENTIALITY.......................................................6
11.     SOTL OBLIGATIONS......................................................7
12.     STAR GOLD OBLIGATIONS.................................................7
13.     CONSENTS AND REGULATORY APPROVALS.....................................7
14.     NATURE OF AGREEMENT AND ENTIRE AGREEMENT..............................8
15.     COSTS.................................................................9
16.     VARIATION.............................................................9
17.     SUCCESSORS AND ASSIGNS................................................9
18.     INVALIDITY............................................................9
19.     NO PARTNERSHIP OR AGENCY..............................................9
20.     WAIVER...............................................................10
21.     FURTHER ASSURANCE....................................................10
22.     COUNTERPARTS.........................................................10
23.     NOTICES..............................................................10
24.     SUPPLY OF GOODS AND SERVICES ACT 1982................................12
25.     NO RIGHTS UNDER CONTRACTS (RIGHTS OF THIRD
        PARTIES) ACT 1999....................................................12
26.     GOVERNING LAW AND JURISDICTION.......................................12
SCHEDULE 1 INTERPRETATION....................................................13
SCHEDULE 2 SERVICES..........................................................15
        PART 1 - HEAD OFFICE ADVISORY SERVICES...............................15
           1. Description of Services........................................15
           2. Duration of Services...........................................15
           3. Cost of Services...............................................16
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        PART 2 - MISCELLANEOUS SERVICES......................................17
          1. Description of Services.........................................17
          2. Duration of Services............................................17
          3. Cost of Services................................................17
APPENDIX 1...................................................................18
          List of Employees..................................................18
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THIS AGREEMENT is made on 5 December 2003

BETWEEN:

(1)  VEDANTA RESOURCES PLC a company incorporated under the laws of England and
     Wales with registration number 04740415, whose registered office is at Hill
     House, 1 Little New Street, London EC4A 3TR, United Kingdom (VEDANTA
     RESOURCES);

(2)  STERLITE INDUSTRIES (INDIA) LIMITED, a company incorporated under the laws
     of India with registration number 130494, whose registered office is at
     B-10/4, Waluj, MIDC Industrial Area, Waluj, Aurangabad 431 133,
     Maharashtra, India (STERLITE);

(3)  STERLITE OPTICAL TECHNOLOGIES LIMITED a company incorporated under the laws
     of India with registration number 125225, whose registered office is at
     B-10/4, Waluj, MIDC Industrial Area, Waluj, Aurangabad 431 133,
     Maharashtra, India (SOTL); and

(4)  STERLITE GOLD LIMITED a company incorporated under the laws of Canada,
     whose registered office is at 19, Khanjian Street, Yerevan, Armenia 375010
     (STERLITE GOLD).

WHEREAS:

(A)  Sterlite currently provides certain services to SOTL and Sterlite Gold.

(B)  Twin Star Holdings Limited has an effective interest in 60.6 per cent. of
the issued shared capital of Sterlite and has management control of its
operations. Twin Star Holdings Limited has an interest in 35 per cent. of the
issued share capital of SOTL and 55 per cent. in the issued share capital of
Sterlite Gold.

(C)  Vedanta Resources has made an application to the UK Listing Authority and
to the London Stock Exchange plc (the LONDON STOCK EXCHANGE) for the admission
of its entire ordinary issued share capital to the Official List of the UK
Listing Authority (the Official List) and to trading on the Stock Exchange's
main market for listed securities.

(D)  As a consequence of the re-organisation involving the transfer of shares in
SOTL and Sterlite Gold from Twin Star Holdings Limited to Twin Star
International Limited pursuant to the Share Sale Agreement dated 1 December 2003
(the SHARE SALE AGREEMENT), SOTL and Sterlite Gold will not be part of the
Vedanta Resources Group on Admission.

(E)  In order to comply with the listing rules of the UK Listing Authority (the
LISTING RULES) any commercial arrangements between Vedanta Resources, Sterlite
and SOTL and Vedanta Resources, Sterlite and Sterlite Gold are required to be at
arms' length and on a normal commercial basis.

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(F)  SOTL and Sterlite Gold wish Vedanta Resources and Sterlite to provide at
arms' length on a normal commercial basis from Admission, various commercial
services in relation to SOTL's and Sterlite Gold's businesses. Vedanta Resources
and Sterlite are willing to supply the same on the terms and conditions of this
Agreement.

IT IS AGREED as follows:

1.   DEFINITIONS AND INTERPRETATION

1.1  Words and expressions used in this Agreement shall have the meanings set
out in Schedule 1, unless the context requires otherwise.

1.2  The Schedules comprise schedules to this Agreement and form part of this
Agreement.

2.   SERVICES

Subject to the terms of this Agreement, Vedanta Resources and Sterlite shall
use their reasonable endeavours to, or shall procure that a member of the
Vedanta Resources Group shall use its reasonable endeavours to, provide the
services listed in Schedule 2 to this Agreement to SOTL and Sterlite Gold from
Admission on the basis set out in Schedule 2.

3.   CONDITION PRECEDENT

3.1  This Agreement is conditional upon Admission taking place not later than 31
December 2003 and shall take effect on Admission.

3.2  If the condition precedent in clause 3.1 is not satisfied, or shall have
become incapable of being satisfied, on or before 31 December 2003 (or such
other later date as may be agreed in writing between the parties) all rights and
obligations of the parties under this Agreement shall lapse and cease to have
effect and neither party shall have any claim against any other under it, except
that clause 10 (Confidentiality) shall remain in full force and effect.

4.   CHARGES

4.1  In consideration of the Vedanta Resources Group providing the Services to
SOTL and Sterlite Gold, SOTL and Sterlite Gold shall each pay to Vedanta
Resources and/or Sterlite, as appropriate, the Charges in accordance with the
relevant provisions of Schedule 2.

4.2  If SOTL and/or Sterlite Gold fail to pay any amount payable by it by the
due date for payment, Vedanta Resources, Sterlite or the relevant Vedanta
Resources Group Company shall be entitled to charge an amount equal to interest
on the overdue payment from the due date for payment up to and including the
date of actual payment (whether before or after judgment) at the rate of one per
cent. above the base rate from time to time of Barclays Bank plc.

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4.3  Amounts specified in this Agreement in respect of charges relating to
services provided are exclusive of VAT and other duties and taxes payable
thereon, which shall, if applicable be payable by SOTL and/or Sterlite Gold (as
appropriate) in addition to the charges in question (and in the case of VAT,
pursuant to a valid VAT invoice to be submitted by Vedanta Resources and/or
Sterlite, as appropriate).

4.4  All amounts due under this Agreement shall be paid in full without any
deduction or withholding other than as required by law and neither SOTL nor
Sterlite Gold nor any of their subsidiaries shall be entitled to assert any
credit set-off or counterclaim against Vedanta Resources, Sterlite or any other
member of the Vedanta Resources Group in order to justify withholding payment of
any such amount in whole or in part.

4.5  If any third party costs associated with the provision of any Service
increase, Vedanta Resources and/or Sterlite, as appropriate, shall be entitled,
on prior written notice to SOTL and Sterlite Gold, as appropriate, to increase
the Charge in respect of that Service to reflect the increase.

5.   DURATION

This Agreement shall come into effect on Admission and, subject to clauses 6
(Termination) and 9 (Force Majeure), shall continue in relation to each of the
Services in force for the periods respectively set out in the relevant Part of
Schedule 2, as appropriate. The parties may by mutual agreement in writing
terminate the provision of any or all of the Services in whole or in part at any
time.

6.   TERMINATION

6.1  Any party shall be entitled to terminate this Agreement by written notice
to the others with immediate effect if:

(a)  any party commits any continuing or material breach (other than as
     contemplated by clause 9 (Force Majeure)) of any of the provisions of this
     Agreement (save for any breach which is caused by the party seeking to rely
     on it) and, in the case of such a breach which is capable of remedy, fails
     to remedy the same within 20 Business Days after receipt of a written
     notice giving full particulars of the breach and requiring it to be
     remedied;

(b)  an encumbrancer takes possession or a receiver is appointed over any of the
     material property or assets of any other party;

(c)  any other party makes any voluntary arrangement with its creditors or
     becomes subject to an administration order, or

(d)  any other party goes into liquidation (except for the purposes of an
     amalgamation, reconstruction or other reorganisation and in such manner
     that the company resulting from the reorganisation effectively agrees to be
     bound by, or to assume the obligations imposed on, that party under this
     Agreement).

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6.2  Any party shall be entitled to terminate a Service by written notice to the
other parties with immediate effect if any other party commits any continuing or
material breach (other than as contemplated by clause 9 (Force Majeure)) of any
of the provisions of this Agreement (save for any breach which is caused by the
party seeking to rely on it) and, in the case of such a breach which is capable
of remedy, fails to remedy the same within 20 Business Days after receipt of a
written notice giving full particulars of the breach and requiring it to be
remedied.

6.3  Each party shall be entitled to terminate this Agreement by written notice
to the other parties with immediate effect if there is a Change of Control of
another party to this Agreement.

6.4  Any waiver by a party of a breach of any provision of this Agreement shall
not be considered as a waiver of any subsequent breach of the same or any other
provision.

6.5  Subject to clauses 8 (Liability) and 9 (Force Majeure), the rights to
terminate this Agreement given by this clause 6 shall not prejudice any other
right or remedy of any party in respect of the breach concerned (if any) or any
other breach.

6.6  A variation of this Agreement as contemplated in clause 16 (Variation)
shall not terminate this Agreement.

6.7  This clause is without prejudice to the termination provisions in clause 9
(Force Majeure).

6.8  For the purpose sub-clauses 6.1(a) and 6.2, a breach shall be considered
capable of remedy if the party in breach will be able to comply with the
provision in question in all respects other than as to the time of performance
(provided that time of performance is not of the essence).

7.   CONSEQUENCES OF TERMINATION

7.1  On termination of this Agreement or any Service:

(a)  each party shall promptly return or deliver to the other party any records
     and documents which, in the case of the termination of a Service, were
     provided to the other party solely in connection with the provision of that
     Service; and

(b)  SOTL and/or Sterlite Gold (as appropriate) shall immediately pay all
     Charges and other amounts accrued for Services and work performed prior to
     termination, which in the case of the termination of a Service, pertains to
     that Service, which have not already been paid.

7.2  Upon the termination of this Agreement for any reason, subject as otherwise
provided in this Agreement and to any rights or obligations which have accrued
prior to termination and save for each party's obligations under clause 10
(Confidentiality), no party shall have any further obligation to the other under
this Agreement.

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8.   LIABILITY

8.1  Vedanta Resources and Sterlite shall, and Vedanta Resources shall procure
that other members of the Vedanta Resources Group supplying Services shall, in
carrying out its duties and obligations in relation to the supply of the
Services, exercise a reasonable degree of skill and care which is not materially
lower than that exercised by the relevant member of the Vedanta Resources Group
in providing similar Services prior to this Agreement.

8.2  If Vedanta Resources or Sterlite are in breach of their obligations in
respect of the supply of Services under this Agreement, SOTL and/or Sterlite
Gold, as appropriate, agree that their sole remedy shall be to require Vedanta
Resources, Sterlite or the relevant member of the Vedanta Resources Group to
carry out as promptly as practicable such repeat or remedial services as shall
be appropriate to ensure that the relevant Services are carried out (save only
as to the time of their performance) in accordance with this Agreement.

8.3  SOTL and Sterlite Gold agree that it shall not make any claim against
Vedanta Resources, Sterlite or any other member of the Vedanta Resources Group
or any of its or their respective directors, officers or employees to recover
any losses which it, or any other person, may suffer or incur by reason of,
arising out of, or otherwise in connection with the provision of the Services or
the carrying out of any other obligations under this Agreement, save in respect
of any reasonably foreseeable losses arising directly out of the fraud, wilful
default, gross negligence or bad faith of any member of the Vedanta Resources
Group or any of their respective directors, officers or employees.

8.4  In no event shall Vedanta Resources, Sterlite or any other member of the
Vedanta Resources Group be liable to either SOTL or Sterlite Gold for loss of
profit or any indirect or consequential loss of any kind in connection with the
provision of the Services whether arising from negligence, breach of contract,
misrepresentation or otherwise.

8.5  Notwithstanding the foregoing provisions of this clause 8, Vedanta
Resources and Sterlite's liability to SOTL and/or Sterlite Gold, as appropriate
for death, personal injury or fraudulent misrepresentation shall not be
excluded.

9.   FORCE MAJEURE

9.1  If any party is affected by Force Majeure it shall promptly notify the
other party of the nature and extent of the circumstances in question.

9.2  Notwithstanding any other provision of this Agreement, neither Vedanta
Resources or Sterlite shall be deemed to be in breach of this Agreement, or
otherwise be liable to either SOTL or Sterlite Gold, for any delay in
performance or other non-performance of any of its obligations under this
Agreement to the extent that the delay or non-performance is due to any Force
Majeure of which it has notified SOTL and/or Sterlite Gold, as appropriate, and
the time for performance of that obligation shall be extended accordingly.

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9.3 If at any time Vedanta Resources, Sterlite or any relevant member of the
Vedanta Resources Group is affected by Force Majeure in respect of the provision
of the Services or any of them, SOTL and/or Sterlite Gold, as appropriate, shall
be entitled to obtain from any other person such Services as the Vedanta
Resources Group is unable to provide, but the Vedanta Resources Group shall in
no way be held liable or accountable for any additional cost, loss or liability
incurred by either SOTL or Sterlite Gold in doing so.

10.  CONFIDENTIALITY

10.1 If a Vedanta Resources Group Company and SOTL and/or Sterlite, as
appropriate, exchange Confidential Information in the course of performing this
Agreement, such Confidential Information shall be used by the recipient solely
for purposes consistent with this Agreement.

10.2 Confidential Information shall be maintained as confidential by the
receiving party and may only be disclosed to:

(a)  such of its employees, agents and any contractors who reasonably require
     such disclosure in order for that party to fulfil its obligations under
     this Agreement;

(b)  its legal, accounting, insurance and other professional advisers;

(c)  other members of the Vedanta Resources Group and any subsidiaries of SOTL
     who need to know the same for the performance of this Agreement;

(d)  the Inland Revenue, HM Customs & Excise and any other governmental or
     public authority or officer whether in the United Kingdom or otherwise to
     the extent that such persons require such disclosure for the proper
     discharge of their functions; or

(e)  comply with any applicable law or regulation or legal proceedings or the
     rules of any applicable stock exchange, to the extent such disclosure is
     required to ensure such compliance.

10.3 For the purpose of this clause 5, CONFIDENTIAL INFORMATION means any
information acquired concerning the other party or its affairs, save that
neither party shall be obligated to maintain in confidence any information
received from the other party if the information:

(a)  was in the possession of such party prior to its receipt from the other
     party; or

(b)  is independently developed by such party without the utilisation of such
     Confidential Information; or

(c)  is or becomes public knowledge without the fault of such party; or

(d)  is or becomes available to such party from a source other than the other
     party; or

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(e)  is received by such party after notification to the other party that it
     will not accept any further information.

10.4 The terms and conditions of this clause shall survive the termination, for
any reason whatsoever, of this Agreement for a period of two years.

11.  SOTL OBLIGATIONS

SOTL shall:

(a)  give the employees of any member of the Vedanta Resources Group engaged in
     the provision of any Service access to any of the facilities or premises of
     each member of the SOTL Group to the extent reasonably required in
     connection with the provision of the Services;

(b)  at their own cost, promptly provide on request to any member of the Vedanta
     Resources Group all information (including copies of documents and data)
     and other assistance reasonably required by any member of the Vedanta
     Resources Group to provide, or procure the provision of, the Services in
     accordance with this Agreement; and

(c)  ensure that those of their personnel whose decisions are necessary for the
     performance of the Services are available at all reasonable times on
     reasonable notice for consultation on any matter relating to the Services.

12.  STAR GOLD OBLIGATIONS

Sterlite Gold shall:

(a)  give the employees of any member of the Vedanta Resources Group engaged in
     the provision of any Service access to any of the facilities or premises of
     Sterlite Gold to the extent reasonably required in connection with the
     provision of the Services;

(b)  at their own cost, promptly provide on request to any member of the Vedanta
     Resources Group all information (including copies of documents and data)
     and other assistance reasonably required by any member of the Vedanta
     Resources Group to provide, or procure the provision of, the Services in
     accordance with this Agreement; and

(c)  ensure that those of their personnel whose decisions are necessary for the
     performance of the Services are available at all reasonable times on
     reasonable notice for consultation on any matter relating to the Services.

13.  CONSENTS AND REGULATORY APPROVALS

13.1 Where the permission, licence or other consent of or registration with any
relevant governmental or regulatory authority (OFFICIAL APPROVAL) is necessary
to enable any member of the Vedanta Resources Group or any director, officer or
employee of any member of the Vedanta Resources Group to supply any of the

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Services, Vedanta Resources or Sterlite (as appropriate) shall use its
reasonable endeavours at SOTL and/or Sterlite Gold's cost (as appropriate) to
obtain and maintain such Official Approval.

13.2 If Vedanta Resources or Sterlite, having used its reasonable endeavours to
do so, is unable to obtain any such Official Approval, notwithstanding any other
provision of this Agreement, Vedanta Resources or Sterlite shall not be obliged
to provide any Service for which such Official Approval was necessary.

14.  NATURE Of AGREEMENT AND ENTIRE AGREEMENT

14.1 Each party acknowledges that, in entering into this Agreement, it does not
do so on the basis of or relying on any representation, warranty or other
provision except as expressly provided in this Agreement and accordingly all
conditions, warranties or other terms implied by statute or common law are
hereby excluded to the fullest extent permitted by law.

14.2 If any provision of this Agreement is held by any court or other competent
authority in any jurisdiction to be void or unenforceable in whole or part, the
other provisions of this Agreement and the remainder of the affected provisions
shall continue to be valid in that and in any other jurisdiction. The parties
shall use all reasonable endeavours to replace the void or unenforceable
provision with a valid and enforceable substitute provision, the effect of which
is as close as possible to the intended effect of the void or unenforceable
provision.

14.3 This Agreement sets out the entire agreement and understanding between the
parties with respect to the provision of Services and supersedes all previous
agreements, arrangements and understandings between the parties relating to the
provision of Services which shall cease to have any further force or effect. It
is agreed that:

(a)  neither party has entered into this Agreement in reliance upon any
     representation, warranty or undertaking of the other party which is not
     expressly set out or referred to in this Agreement;

(b)  neither party shall have any claim or remedy in respect of
     misrepresentation (whether negligent or otherwise, and whether made prior
     to, and/or in, this Agreement) or untrue statement made by the other party
     or any of its Connected Persons;

(c)  this clause shall not exclude any liability for or remedy in respect of
     fraudulent misrepresentation by either party or any of its Connected
     Persons; and

(d)  save as expressly set out in this Agreement or in any other agreement or
     document referred to in this Agreement, no party or Connected Person shall
     owe any duty of care to any other party or Connected Person.

Each party contracts in this clause 14 on its own behalf and as agent for each
of its Connected Persons. Each Connected Person which contracts through the
agency of a party may enforce this clause 14 direct against each other party and
Connected

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Person. In this clause 14, CONNECTED PERSON means (a) a party's officers,
employees, group undertakings, agents and advisers, (b) officers, employees,
agents and advisers of a party's group undertakings; and (c) officers, employees
and partners of any such agent or adviser or of any group undertaking of such an
agent or adviser.

15.  COSTS

Except as expressly set out in this Agreement, each party shall bear and pay its
own costs, charges and expenses incurred in the negotiation, preparation and
implementation of this Agreement.

16.  VARIATION

No variation of this Agreement or of any of the documents referred to in this
Agreement shall be valid unless it is in writing specifically referring to this
Agreement and duly signed by or on behalf of each of the parties hereto. The
expression VARIATION shall include any variation, supplement, deletion, waiver
or replacement however effected.

17.  SUCCESSORS AND ASSIGNS

17.1 Vedanta Resources and Sterlite shall be entitled to perform any of the
obligations undertaken by them, and to exercise any of the rights granted to
them, under this Agreement through any other company which is a Vedanta
Resources Group Company at that time, and any act or omission of any such
Vedanta Resources Group Company shall, for the purposes of this Agreement, be
deemed to be the act or omission of Vedanta Resources or Sterlite, as
appropriate.

17.2 Except as provide in clause 17.1 above, this Agreement is personal to the
parties and neither of them may (without the prior written consent of the other)
assign, mortgage, charge or dispose of any of their rights hereunder, or
sub-contract or otherwise delegate any of their obligations under this
Agreement.

18.  INVALIDITY

If any of the provisions of this Agreement is or becomes invalid, illegal or
unenforceable, the validity, legality or enforceability of the remaining
provisions shall not in any way be affected or impaired. Notwithstanding the
foregoing, the parties shall thereupon negotiate in good faith in order to agree
the terms of a mutually satisfactory provision, achieving so nearly as possible
the same commercial effect, to be substituted for the provision so found to be
void or unenforceable.

19.  NO PARTNERSHIP OR AGENCY

Nothing in this Agreement (or any of the arrangements contemplated hereby) shall
be deemed to constitute a partnership between the parties nor, save as may be
expressly set out herein, constitute either party the agent of the other party
for any purpose.

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20.  WAIVER

20.1 Any delay by a party in exercising, or failure to exercise, any right or
remedy under this Agreement shall not constitute a waiver of the right or remedy
or a waiver of any other rights or remedies and no single or partial exercise of
any rights or remedy under this Agreement or otherwise shall prevent any further
exercise of the right or remedy or the exercise of any other right or remedy.

20.2 The rights and remedies of a party under this Agreement are cumulative and
not exclusive of any rights or remedies provided by law.

21.  FURTHER ASSURANCE

Each party shall do or procure to be done all such further acts and things, and
execute or procure the execution of all such other documents, as the other party
may from time to time reasonably require for the purpose of giving to the first
party the full benefit of all of the provisions of this Agreement.

22.  COUNTERPARTS

This Agreement may be entered into in any number of counterparts and by the
parties to it on separate counterparts, each of which, when so executed and
delivered, shall be an original, but all of the counterparts shall together
constitute one and the same instrument.

23.  NOTICES

23.1 Any notice or other communication to be given by one party to the other
party under, or in connection with, this Agreement shall be in writing and
signed by or on behalf of the party giving it. It shall be served by sending it
by fax to the number set out in clause 23.2, or delivering it by hand, or
sending it by pre-paid recorded delivery, special delivery or registered post,
to the address set out in clause 23.2 and in each case marked for the attention
of the relevant party set out in clause 23.2 (or as otherwise notified from time
to time in accordance with the provisions of this clause 23). Any notice so
served by hand, fax or post shall be deemed to have been duly given:

(a)  in the case of delivery by hand, when delivered;

(b)  in the case of fax, at the time of transmission, on receipt of a valid
     answerback;

(c)  in the case of prepaid recorded delivery, special delivery or registered
     post, at 10 a.m. on the second Business Day following the date of posting,

PROVIDED THAT in each case where delivery by hand or by fax occurs after 6.00
p.m. on a Business Day or on a day which is not a Business Day, service shall be
deemed to occur at 9.00 a.m. on the next following Business Day.

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23.2 The addresses and fax numbers of the parties for the purpose of clause 23.1
are as follows:

VEDANTA RESOURCES

Address:                                  44 Hill Street, London, W1J 5NX

Fax No:                                   +44 20 7629 7426

Addressed for the attention of:           Company Secretary

STERLITE

Address:                                  Dhanraj Mahal, 5th Floor, C.S.M.
                                          Road, Apollo Bunder, Mumbai 400 039,
                                          India

Fax No:                                   +91 22 2283 6474

Addressed for the attention of:           Tarun Jain

SOTL

Address:                                  B-10/4, Waluj Industrial Area, Waluj,
                                          Aurangabad 431 133, Maharashtra, India

Fax No:                                   +91 240 256 4066

Addressed for the attention of:           Dr Anand Agarwal

STERLITE GOLD

Address:                                  19, Khanjian Street, Yerevan, Armenia
                                          375010

Fax No:                                   +37 41 542 270/263

Addressed for the attention of:           Sanjay Dalmia

23.3 Either party may notify the other party to this Agreement of a change to
its name, relevant addressee, address or fax number for the purposes of this
Clause 23, provided that such notice shall only be effective on:

(a)  the date specified in the notice as the date on which the change is to take
     place; or

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(b)  if no date is specified or the date specified is less than five Business
     Days after the date on which notice is given, the date following five
     Business Days after notice of any change has been given.

24.  SUPPLY OF GOODS AND SERVICES ACT 1982

The parties agree that, to the extent permissible and subject to any
requirements to the contrary under English law, the terms implied by the supply
of Goods and Services Act 1982 are excluded in relation to the Services provided
under this Agreement.

25.  NO RIGHTS UNDER CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999

A person who is not a party to this Agreement shall have no right under the
Contracts (Rights of Third Parties) Act 1999 to enforce any of its terms,
subject to the rights of any Vedanta Resources Group Company which is providing
Services pursuant to this Agreement.

26.  GOVERNING LAW AND JURISDICTION

26.1 This Agreement and the relationship between the parties is governed by,
and shall be interpreted in accordance with, English law.

26.2 Each of the parties agrees that the courts of England are to have exclusive
jurisdiction to settle any disputes (including claims for set-off and
counterclaims) which may arise in connection with the creation, validity,
effect, interpretation or performance of, or the legal relationships established
by, this Agreement or otherwise arising in connection with this Agreement, and
for such purposes irrevocably submit to the jurisdiction of the English courts.

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                                   SCHEDULE 1

                                 INTERPRETATION

1.1  In this Agreement, the following terms shall, unless the context requires
otherwise, have the following meanings:

ADMISSION means admission of the issued and to be issued ordinary share capital
of Vedanta Resources to the Official List and to trading on the London Stock
Exchange's main market for listed securities becoming effective in accordance
with paragraph 7.1 of the Listing Rules and paragraph 2.1 of the Admission and
Disclosure Standards of the London Stock Exchange;

BUSINESS DAY means any day (other than Saturday or Sunday) on which clearing
banks are generally open in the City of London for the transaction of normal
banking business;

BUSINESS HOURS means the hours of 9.00 a.m to 5.00 p.m. (inclusive);

CHANGE OF CONTROL means:

(a)  the acquisition by a third party (together, if applicable, with persons
     acting in concert with any such third party) of a Controlling Interest in
     SOTL, Sterlite Gold, Vedanta Resources or Sterlite (as appropriate); or

(b)  the acquisition by any person of all or a substantial part of the business
     of SOTL or Sterlite Gold or the Vedanta Resources Group (as appropriate);

CHARGE means in respect of any particular Service the costs and charges for that
Service as specified in Schedule 2 and CHARGES shall be construed accordingly;

CONTROLLING INTEREST means:

(a)  the ownership or control (directly or indirectly) of more than fifty per
     cent (50%) of the voting share capital of the relevant undertaking;

(b)  the ability to direct the casting of more than fifty per cent (50%) of the
     votes exercisable at general meetings of the relevant undertaking on all,
     or substantially all, matters; or

(c)  the right to appoint or remove directors of the relevant undertaking
     holding a majority of the voting rights at meetings of the board on all, or
     substantially all, matters;

FORCE MAJEURE means in relation to either party, any circumstances beyond the
reasonable control of that party (including, without limitation, any strike,
lockout or other form of industrial action) which could reasonably be expected
to have an adverse effect on that party's ability to perform its obligations
under this Agreement;

                                                                         Page 13
<PAGE>
LISTING RULES means the Listing Rules of the UK Listing Authority made under
Section 74 of the Financial Services and Markets Act 2000 (as altered from time
to time);

LONDON STOCK EXCHANGE means London Stock Exchange plc;

OFFICIAL LIST means the Official List of the UK Listing Authority;

SERVICES means the services to be provided by Vedanta Resources and Sterlite to
SOTL and Sterlite Gold in accordance with this Agreement, and as set out in
further detail in Schedule 2 (the Services set out in each part thereof being a
SERVICE);

SITE means any site at which any Service or Services are provided from time to
time;

SUBSIDIARY and HOLDING COMPANY shall have the meaning ascribed to them by
Section 736 of the Companies Act 1985, as amended by the Companies Act 1989;

VEDANTA RESOURCES GROUP means Vedanta Resources and its subsidiaries from time
to time and VEDANTA RESOURCES GROUP COMPANY means any of them;

VAT means value added tax chargeable under VATA; and

VATA means the Value Added Tax Act 1994 or any equivalent tax or legislation in
another jurisdiction.

1.2  Unless the context otherwise requires:

(a)  the HEADINGS are inserted for convenience only and shall not affect the
     construction of this Agreement;

(b)  any reference to an ENACTMENT is a reference to it as from time to time
     amended, consolidated or re-enacted (with or without modification) as at
     the date of this Agreement and includes all instruments or orders made
     under such enactment as at such date;

(c)  words denoting any GENDER shall include all genders;

(d)  words denoting the single shall include the plural and vice versa;

(e)  references to a party or PARTIES are references to a party or PARTIES to
     this Agreement; and

(f)  any reference to the word include or INCLUDING shall be construed as
     "including, but not limited to" or "including, without limitation", as
     appropriate.

                                                                         Page 14
<PAGE>
                                   SCHEDULE 2

                                    SERVICES

                     PART 1 - HEAD OFFICE ADVISORY SERVICES

1.   DESCRIPTION OF SERVICES

1.1  If and to the extent requested by SOTL and/or Sterlite Gold, as
appropriate, Vedanta Resources and/or Sterlite will provide to SOTL and Sterlite
Gold reasonable access to certain employees of the Vedanta Resources Group, on
reasonable prior notice, for such employees to provide certain advisory services
in relation to their specific positions and functions within the Vedanta
Resources Group.

1.2  Subject to paragraph 1.3 of this Part 1 of Schedule 2, a list of the
relevant employees of the Vedanta Resources Group who will provide the Services
pursuant to paragraph 1.1 of this Part 1 of Schedule 2 is attached to this
Agreement as Appendix 1. In the event any employee listed in Appendix 1 leaves
the employment of the Vedanta Resources Group, their name shall be deemed to be
removed from Appendix 1.

1.3  The parties may, in their discretion, agree from time to time that certain
other employees of the Vedanta Resources Group will be required to provide the
Services pursuant to paragraph 1.1 of this Part 1 of Schedule 2 and Appendix 1
may be so amended from time to time by such mutual agreement. In the event that
an employee listed in Appendix 1 leaves the employment of the Vedanta Resources
Group and is replaced by a new employee, Vedanta Resources or Sterlite may, but
shall not be obliged to, notify SOTL and Sterlite Gold in writing of the name of
such new employee and upon such notification the name of such employee shall be
deemed to have been inserted in Appendix 1 of this Agreement.

1.4  SOTL and Sterlite Gold acknowledge that in providing Services pursuant to
paragraph 1.1 of this Part 1, neither Vedanta Resources nor any member of the
Vedanta Resources Group, nor any of their respective employees, other than Navin
Agarwal, shall be responsible for formulating any SOTL and/or Sterlite Gold
policy or system in respect of any matter the subject of such Service but shall
provide assistance and advice in applying such policies or systems as previously
adopted by the Board of Directors of the relevant company.

2.   DURATION OF SERVICES

Services under this Part 1 shall (subject to the terms and conditions of this
Agreement) continue until the earliest to occur of:

(a)  termination of this Agreement in accordance with Clause 6 or this Service
     in accordance with its terms;

(b)  three months' written notice by either party; or

                                                                         Page 15
<PAGE>
(c)  31 December 2006.

3.   COST OF SERVICES

3.1  The cost of access to the directors, officers and employees of each member
of the Vedanta Resources Group shall be paid by SOTL and/or Sterlite Gold, as
appropriate.

3.2  The cost of the Services provided pursuant to this Part 1 of Schedule 2
shall be paid by SOTL and/or Sterlite Gold, as appropriate, monthly or in arrear
within 30 Business Days of submission by Vedanta Resources and/or Sterlite, as
appropriate, of an invoice in respect of such Services.

3.3  For the purposes of paragraph 3.1, COSTS in relation to the Services
provided to SOTL pursuant to this Part 1 of Schedule 2 shall mean:

<TABLE>
<S>                                           <C>
     Total number of employees of      X      Total salary cost to the Vedanta
     SOTL on the last day of the              Resources Group of the
     period for which costs are               employment of the relevant
     being calculated                         director, officer or employee for
                                              the period of time over which
                                              Services have been provided

     ____________________________
     Total number of employees of
     Vedanta Resources Group +
     SOTL on the last day of the
     period for which costs are
     being calculated
</TABLE>

3.4  For the purposes of paragraph 3.1, COSTS in relation to the Services
provided to Sterlite Gold pursuant to this Part 1 of Schedule 2 shall mean:

<TABLE>
<S>                                           <C>
     Total number of employees of      X      Total salary cost to the Vedanta
     Sterlite Gold on the last                Resources Group of the employment
     day of the period for which              of the relevant director, officer
     costs are being calculated               or employee for the period of time
                                              over which Services have been
                                              provided

     ____________________________
     Total number of employees of
     Vedanta Resources Group +
     Sterlite Gold on the last
     day of the period for which
     costs are being calculated
</TABLE>

                                                                         Page 16
<PAGE>
3.5  All expenses incurred by the relevant director, officer or employee in
connection with providing Services to SOTL and/or Sterlite Gold, as appropriate,
pursuant to this Part 1 of Schedule 2 shall be reimbursable at cost.

                        PART 2 - MISCELLANEOUS SERVICES

1.   DESCRIPTION OF SERVICES

1.1  Vedanta Resources and/or Sterlite, as appropriate, will, on the request of
SOTL and/or Sterlite Gold, as appropriate, provide such other services as may be
mutually agreed between the parties from time to time and which are not to be
provided pursuant to any other provision of this Agreement.

2.   DURATION OF SERVICES

2.1  Services under this Part 2 shall (subject to the terms and conditions of
this Agreement) continue until the earliest to occur of:

(a)  termination of this Agreement in accordance with Clause 6 of this Agreement
     or this Service in accordance with the terms as agreed between the parties;

(b)  three months written notice by either party; or

(c)  31 December 2006.

3.   COST OF SERVICES

3.1  The cost of the Services provided pursuant to this Part 2 of Schedule 2
shall be paid by SOTL and/or Sterlite Gold, as appropriate, monthly or in arrear
within 30 Business Days of submission by Vedanta Resources and/or Sterlite, as
appropriate, of an invoice in respect of such Services.

3.2  For the purposes of paragraph 3.1, COSTS shall mean the cost which is
reasonably determined by Vedanta Resources and/or Sterlite, as appropriate, to
be the actual cost of providing such Services plus an additional 20 per cent. on
such amount, and ignoring for these purposes any relevant fixed overhead costs
of any member of the Vedanta Resources Group.

                                                                         Page 17
<PAGE>
                                   APPENDIX 1

                                LIST OF EMPLOYEES

<Table>
<S>  <C>
1.   Anil Agarwal

2.   Priyank Thapliyal

3.   Navin Agarwal

4.   Tarun Jain

5.   Ramesh Venkat

6.   B.K. Pansari

7.   T. Venkatesan

8.   D. D. Jalan

9.   Dilip Golani

10.  S. Venkatesh

11.  D.K. Vasal
</Table>

                                                                         Page 18
<PAGE>

SIGNED BY                         )
for and on behalf of              )   /s/ Andrew Woolley
VEDANTA RESOURCES PLC             )

SIGNED BY                         )
for and on behalf of              )   /s/ Tarun Jain
STERLITE INDUSTRIES (INDIA)       )
LIMITED                           )

SIGNED BY                         )
for and on behalf of              )   /s/ Anand Agarwal
STERLITE OPTICAL                  )
TECHNOLOGIES LIMITED              )

SIGNED BY                         )
for and on behalf of              )   /s/ Sanjay Dalmia
STERLITE GOLD LIMITED             )

                                                                         Page 19
<PAGE>

(VEDANTA LOGO)                                          VEDANTA RESOURCES PLC
                                                        16 Berkeley Street
                                                        London W1J 8DZ

                                                        Tel: +44 (0)20 7499 5900
To: Sterlite Industries (India) Limited (STERLITE)      Fax: +44 (0)20 7491 8440
                                                        www.vedantaresources.com
To: Sterlite Gold Limited (STERLITE GOLD)

To: Sterlite Optical Technologies Limited (SOTL)

                                                            13th April 2006

Dear Sirs,

AMENDMENT OF THE SHARED SERVICES AGREEMENT BETWEEN SOTL, STERLITE GOLD,
STERLITE AND VEDANTA RESOURCES PLC (VEDANTA RESOURCES) DATED 5 DECEMBER 2003

We refer to the shared services agreement dated 5 December 2003 between SOTL,
Sterlite Gold, Sterlite and Vedanta Resources (the SHARED SERVICES AGREEMENT).
Unless otherwise defined herein, defined terms used in this letter shall have
the meanings given to them in the Shared Services Agreement.

Each of the parties to the Shared Services Agreement hereby agrees that the
Shared Services Agreement be amended as follows:

1.   The changes set out in 2 and 3 below are hereby agreed to have been
     effective from 10 December 2003 to 31 March 2005.

2.   Appendix 1 (List of Employees) of the Agreement shall be deleted and
     replaced by Appendix 1 of this Letter.

3.   In respect of Mr Anil Agarwal, twenty five per cent. of his salary cost be
     used when determining the costs as set out in Paragraphs 3.3 and 3.4 of
     Part 1 of Schedule 2 to the Shared Services Agreement.

4.   The change set out in paragraph 5 below is hereby agreed to have become
     effective from 1 April 2005.

5.   Paragraphs 3.3 and 3.4 of Part 1 of Schedule 2 to the Shared Services
     Agreement shall be deleted and replaced with the following:

     "3.3 For the purposes of paragraph 3.1, COSTS in relation to the Services
          provided to SOTL and/or Sterlite Gold (as applicable) pursuant to Part
          1 of Schedule 2 by any director, officer or employee of any member of
          the Vedanta Resources Group shall mean the following:

REGISTERED OFFICE: Hill House, 1 Little New Street, London EC4A 3TR. Registered
in England and Wales No. 4740415.
<PAGE>
(VEDANTA LOGO)

          the total salary cost of such director, officer or employee to the
          Vedanta Resources Group, during the period when the relevant Services
          were provided, apportioned in accordance with the amount of time spent
          on the provision of the Services by such director, officer or employee
          of any member of the Vedanta Resources Group, plus an additional 20
          per cent. on such amount and ignoring for these purposes any relevant
          fixed overhead costs of any member of the Vedanta Resources Group.

This letter may be executed in any number of counterparts and by the parties to
it on separate counterparts, each of which shall be original, but all of which
together shall constitute one and the same instrument.

This construction, performance and validity of this letter shall be governed by
and construed in all respects in accordance with English law.

Please confirm your agreement to the amendments set out in this letter by
signing where indicated below.

SIGNED BY                         )
for and on behalf of              )   /s/ Deepak Kumar, Company Secretary
VEDANTA RESOURCES PLC             )

We hereby agree to the amendments as set out in this letter.

SIGNED BY                         )
for and on behalf of              )   /s/ Tarun Jain
STERLITE INDUSTRIES (INDIA)       )
LIMITED                           )

SIGNED BY                         )
for and on behalf of              )   /s/ Anand Agarwal
STERLITE OPTICAL                  )
TECHNOLOGIES LIMITED              )

SIGNED BY                         )
for and on behalf of              )   /s/ B.K. Sharma, CEO
STERLITE GOLD LIMITED             )

                                                                          Page 2
<PAGE>
(VEDANTA LOGO)

                                   APPENDIX 1

<Table>
<Caption>

NAME                           STERLITE GOLD               SOTL
<S>                            <C>                         <C>

Piloo Wadia                    x                           x

Dilip Golani                   -                           x

Rajeev Batra                   -                           x

KV Sriram                      x                           x

Vikram Sharma                  -                           x

DD Jalan                       x                           -

DK Vasal                       -                           x

Priyank Thapliyal              x                           -

Vinay Gaokar                   -                           x

B Anand                        -                           x
</Table>

                                                                          Page 3<PAGE>
                                                                    EXHIBIT 10.4

(VEDANTA LOGO)

CONSULTANCY AGREEMENT

BETWEEN

VEDANTA RESOURCES PLC

AND

STERLITE INDUSTRIES (INDIA) LIMITED

<PAGE>
(VEDANTA LOGO)

CONSULTANCY AGREEMENT

THIS AGREEMENT made at London, United Kingdom this 29th day of March, 2005,
between Vedanta Resources plc, a Company incorporated under the laws of England
& Wales and having its registered office at Hill Street, 1 Little New Street,
London, EC4A 3TR (hereinafter called 'VR plc', which expression shall, unless
repugnant to the context or meaning thereof, be deemed to include its
successors) of the One Part and Sterlite Industries (India) Limited, a company
registered under the provisions of the Companies Act, 1956 and having its
Registered Office at B-10/4, Waluj, MIDC Industrial Area, Waluj, Dist.
Aurangabad 431 133, Maharashtra (hereinafter called 'SIIL' which expression
shall, unless repugnant to the context or meaning thereof, be deemed to include
its successors) of the Other Part;

W H E R E A S

A) VR plc is a body corporate incorporated in England & Wales, VR plc is the
ultimate parent company of Sterlite Industries (India) Limited and the various
other Sterlite group companies in India and abroad. VR plc has a pool of
qualified and well-experienced managerial and operating personnel.

B) Sterlite Industries (India) Limited, is a leading non-ferrous metals player
in India. Its business comprises the manufacture of copper anode, copper cathode
and continuous cast copper rods. It has made down stream investment in Bharat
Aluminium Company Limited, Hindustan Zinc Limited, Indian Foils Limited and has
also acquired copper mines in Australia.

                                       1

<PAGE>
(VEDANTA LOGO)

C) SIIL has requested, and VR plc is willing to provide strategic planning and
consultancy services to SIIL and each of its subsidiaries in varied areas of
business such that each of the companies is able to finalise and implement plans
for growth (both generic and by acquisitions), raise finance, enhance profile
and so forth.

D) The parties have agreed that VR plc shall render such services to SIIL on the
terms and conditions hereinafter contained:

NOW IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

1.   SERVICES

a. The scope of services to be rendered by VR plc to SIIL will include but not
be limited to services as set out in Appendix 1:

b. The services shall be rendered and supplied by VR plc to SIIL and its
subsidiaries based on the needs and requirements of SIIL. The services will be
provided by VR plc on its own and also where the services are specifically
required by SIIL. SIIL shall keep VR plc informed of the development of its
programmes, projects etc., and the aforesaid services shall be rendered and
supplied by VR plc upon request made by SIIL. SIIL shall give sufficient and
reasonable time to VR plc to render and supply the aforementioned services. In
the event of SIIL requiring services other than those specified above, VR plc
will supply these if available by VR plc on such terms as may be mutually agreed
between SIIL and VR plc.

                                        2

<PAGE>

(VEDANTA LOGO)

2.   MANNER IN WHICH SERVICES ARE TO BE PERFORMED

VR plc agrees to render these services as follows:

a. By making available its skilled employees to SIIL for the performance of the
above services.

b. By providing SIIL with oral and written expert advice in the various service
categories covered within this agreement.

c. By providing SIIL with factual information, data and recommendations and the
results of studies and services relating to the business activities and
management of SIIL, so as to enable it to promote and improve its business.

3.   FEES

a. In consideration of VR plc rendering and supplying to SIIL and its
subsidiaries the services mentioned above, SIIL shall pay to VR plc fees as
set-out in Appendix 2. It is also agreed that the maximum consideration for the
first financial year under this Agreement shall not exceed USD 3 million.

The said fees will be subject to revision, on mutually accepted terms, at each
calendar year commencing from 1st April, 2005.

b. The said fees shall be paid six monthly in arrears starting with the period
commencing 1st April, 2004.

c. SIIL shall pay to VR plc the full amount of each invoice no later than 45
days following receipt of the same. Invoices shall be issued in March and
September in each year during the Term. If SIIL disputes any amount set forth in
any such invoice, SIIL shall pay the undisputed portion within the specified
period, and the SIIL and VR plc shall attempt in good faith to resolve all
disputed items as soon as reasonably practicable.

                                        3
<PAGE>
(VEDANTA LOGO)

d. The gross fee and any other amounts due under this agreement are exclusive of
any Value Added Tax (VAT), if any, chargeable under the Value Added Tax 1994
(including all associated regulation and European Community Directives and
Regulations pertaining thereto) ('VAT'). If VAT is chargeable, SIIL shall pay
this VAT in addition to any amount due under this agreement and VR plc will
provide a valid VAT invoice to SIIL. VR plc will provide all reasonable
assistance to SIIL to enable it to recover any VAT so charged.

e. SIIL will pay the gross fee to VR plc. If the fee is subject to any
withholding tax then VR plc may require SIIL, at its sole discretion, to
increase the fee to such an extent that the net fee after the deduction of
withholding tax shall equal the gross fee as calculated in Appendix 2 and as
referred to above, If any such withholding is made, SIIL will provide the
necessary vouchers certifying the tax withheld to VR plc.

4.   CONFIDENTIALITY

Both parties undertake to maintain strict confidentiality of all information
that they may have access to or that comes to their knowledge during the course
of rendering or supplying of the said services to SIIL and its subsidiaries.
Neither of the parties shall disclose such information to any person save and
except its employees and other professional advisers on a need-to-know basis and
on obtaining from them an assurance of confidentiality.

5.   TERM

This Agreement shall come into force upon the execution hereof and shall take
effect from 1st April, 2004 and unless terminated as herein provided, shall
remain in force for a period of five years.

                                        4

<PAGE>
(VEDANTA LOGO)

6.   TERMINATION

a. This Agreement shall stand terminated forthwith if a party is unable to pay
any debt as it becomes due and has liabilities which exceed its assets.

b. This Agreement may be terminated by either of the parties forthwith, if the
other party shall happen to be in breach of any of its terms and shall have
failed to rectify such breach within sixty days of a notice in this regard
having been served upon it.

c. This Agreement can be terminated by mutual agreement after 31 March 2005 by
either party providing written notice of its intention to terminate the
Agreement.

7.   TRANSITION

Upon termination or expiration of this Agreement, each party shall diligently
cooperate with the other to effect a smooth and orderly transition. From the
time that a notice of termination is received by either party until the
effective termination date, each party shall cooperate fully with any newly
appointed party performing the duties contemplated hereunder.

8.   LIMITATION OF LIABILITY

In the event of termination by either party in accordance with any of the
provisions of this Agreement, neither party shall be liable to the other because
of such termination for compensation, reimbursement or damages on account of the
loss of prospective profits or anticipated sales or on account of expenditure,
investment, leases or commitments in connection with the business or goodwill of
SIIL or VR plc.

                                        5

<PAGE>
(VEDANTA LOGO)

9.   FORCE MAJEURE

In the event of a party's obligations hereunder have been prevented from being
carried out due to a governmental restriction, act of God, war, civil war, riot
or any other cause similar to the foregoing which is beyond its control, it
shall not be responsible to the other party for failure or delay of performance
of the obligations under this Agreement; provided, however, if such failure or
delay continues for more than six months, the other party hereto may terminate
this Agreement by notice in writing to that effect.

10.  RETURN OF CONFIDENTIAL INFORMATION

Upon termination, either party shall return to the other all documents and
papers which it may have in its custody belonging to the other in connection
with this Agreement the services rendered or supplied hereunder.

11.  NOTICES

All notices required to be given shall be deemed to have been sufficiently
served if sent by registered post acknowledgement due or by any other means of
recorded delivery, including telex or fax, at the address of the party mentioned
herein above, or at any other address as may be communicated in writing.

12.  NON ASSIGNABILITY

Neither of the parties may assign this Agreement or any rights or obligations
hereunder without the prior consent in writing of the other.

                                        6

<PAGE>
(VEDANTA LOGO)

13.  CHANGES TO AGREEMENT

This Agreement shall be modified only by the mutual consent of both parties
expressed in writing.

14.  INVALIDITY

If any provision of this Agreement is or becomes invalid, illegal or
unenforceable, the validity, legality or enforceability of the remaining
provisions shall not in any way be affected or impaired.

15.  ENTIRE AGREEMENT

This Agreement comprises the entire agreement between the Parties relating to
the subject matter hereof and each of the Parties acknowledges that it has not
entered into this Agreement relying on any representation, statement or
agreement, whether oral or in writing, other than those expressly incorporated
into this Agreement.

16.  PARTNERSHIP AND AGENCY

Nothing contained herein shall be construed as constituting VR plc as an agent
of SIIL or its subsidiaries. The relationship between the parties is strictly on
a principal-to-principal basis. Similarly, nothing herein contained shall be
construed to constitute a joint venture or an arrangement for sharing of profits
or partnership between the parties.

                                        7

<PAGE>
(VEDANTA LOGO)

17.  DISPUTES

In the event of any dispute or difference arising between the parties concerning
the interpretation of this Agreement or the rights and obligations of the
parties, the same shall be referred to a single arbitrator in case the parties
so agree, failing which each party shall nominate an arbitrator in writing and
the arbitrators so appointed shall, before entering upon reference, appoint a
third arbitrator who shall act as the presiding arbitrator and thereafter
proceed to determine the matter of difference or dispute. The decision of the
arbitrators by majority shall be conclusive. The arbitration shall be in
accordance with the UNCITRAL Arbitration Rules as in force and effect on the
date of service of a Notice of Dispute. The tribunal shall consist of a sole
arbitrator and the appointing authority shall be the Secretary General of the
Permanent Court of Arbitration of the Hague. Such arbitration shall be held at
London and the language of the arbitration shall be English.

18.  LAW

This Agreement shall be construed and given effect to in accordance with the
laws of England and Wales. Subject to the provisions of Clause 17 hereinabove,
any dispute or difference arising out of this Agreement or any claim by either
party against the other party shall be adjudicated upon and decided by a Court
of competent jurisdiction in England and Wales.

                                        8

<PAGE>
(VEDANTA LOGO)

IN WITNESS WHEREOF this Agreement has been entered into the day and year first
above written.

SIGNED for and on behalf of                 )

VEDANTA RESOURCES PLC                       )   /s/ Peter Sydney

Director                                    )

Director/Company Secretary                  )   /s/ Andrew Woolley

SIGNED for and on behalf of                 )

STERLITE INDUSTRIES (INDIA) LIMITED         )   /s/ Tarun Jain

Director                                    )

Director/Company Secretary                  )   /s/ Ramesh Venkat

                                       9

<PAGE>
(VEDANTA LOGO)

APPENDIX 1

CONSULTANCY SERVICES

1.   STRATEGIC ADVICE

a)   Advice on developing a global profile, particularly relevant to the metals
     and mining businesses of the SIIL group of companies.

b)   Advice and assistance in formulating and implementing short, medium and
     long term plans and strategies for growth and diversification, and also
     consolidation so as to enhance and make effective use of corporate
     resources in the form of personnel, finance and goods and services.

c)   Advice and assistance on all opportunities for growth through mergers and
     acquisitions including identification, evaluation, negotiation and closing.

d)   Advice on all plans for new ventures, businesses and facilities (including
     mines and refining and manufacturing facilities) including evaluation of
     proposals and their implementation.

e)   Assistance in sourcing international consultants including specialists in
     mining and metallurgical, suppliers, vendors and customers and negotiation
     with these parties.

f)   Advice on globalisation including in particular advice on best practices in
     all fields of production, marketing, distribution, administration, human
     resources, and so forth.

2.   FINANCIAL, TREASURY AND LEGAL ADVICE

a)   Advice on financial structure of the company including advice and
     assistance in relation to raising of financial resources by private and/or
     public placements of debt and/or equity. This advice will include
     consideration of new and/or different instruments or arrangements which

                                       10

<PAGE>
(VEDANTA LOGO)

     are evolved in the international markets and their applicability to the
     companies.

b)   Assistance in short, medium and long term financial planning and
     forecasting.

c)   Assistance in investment appraisal.

d)   Support for implementation of financial systems.

e)   Internal audit.

f)   Assistance in cash management and cash flow planning.

g)   Advice on banking arrangements and particularly in the international sector
     including foreign exchange exposure.

h)   Advice on taxation matters.

i)   Advice on legal matters, including trademark, licence, domain name and
     contractual issues.

3.   MARKETING

a)   Advice on public relations, marketing and customer service provision.

b)   Provision of corporate marketing material. All such material will become
     the property of SIIL subject to payment under section 3 of this agreement.

c)   Assistance with marketing positioning and strategic market planning.

4.   TRAINING

     Assistance with the provision of staff training.

5.   IT SUPPORT

a)   Assistance with the provision of IT software support.

b)   Provision of software and systems advice.

                                       11

<PAGE>
(VEDANTA LOGO)

6.   HUMAN RESOURCE MANAGEMENT

a)   Advice on short, medium and long term Human Resource planning.

b)   Advice on establishing Human Resource policies, selection and training of
     personnel and in other organisational matters.

c)   Advice on executive development programmes, incentives, retirements and
     other benefit programmes.

                                       12

<PAGE>
(VEDANTA LOGO)

APPENDIX 2

CALCULATION OF THE SERVICE FEES DUE UNDER THIS AGREEMENT

1.   Pursuant to Clause 3 of this Agreement SIIL shall pay VR plc for the
     services provided as calculated below.

2.   The time spent by the relevant personnel in providing the services will be
     determined.

3.   Once the amount of time spent has been calculated, a proportion of salary
     and all associated employment costs (including but not restricted to
     salaries, benefits, bonuses, allowances, travel expenses, and other
     associated employment costs) together with a proportion of overhead costs
     incurred by VR plc shall be determined. Such costs will not include any
     notional costs suffered by VR plc such as the attributed cost of awards to
     staff under the Vedanta Resources Long Term Incentive Plan.

4.   Then the total of the costs calculated in 3 above together with a mark-up
     of 40% shall represent the gross fee payable to VR plc for the period.

5.   The anticipated fee used for reference in this agreement will initially be
     based on a relevant (based on estimated time spent on the provision of
     services under this agreement) proportion of expected annual budgeted costs
     for the year ending 31 March 2005 plus the mark-up noted above. Based on
     current projections the relevant proportion of annual budgeted costs will
     be in the region of USD 3 million per annum.

                                       13

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6.   The fee will be adjusted for actual time and costs incurred in the year if
     the actual costs calculated in 3 above are 20% more or less than the
     budgeted costs (as calculated in 5 above) on the services provided and the
     estimate of the next year's fee will also be adjusted accordingly.

7.   Appendix 3 sets out the expenses budget for the year ending 31 March 2005
     for VR plc individuals involved and the expected gross fee chargeable to
     SIIL for the year ending 31 March 2005.

8.   The gross fee will be recalculated each year.

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APPENDIX 3

ANNUAL BUDGETED COSTS

As set-out in paragraph 5 of Appendix 2 the allocated costs for the year ending
31 March 2005 in providing the services pursuant to clause 1 of this Agreement
are set out below:

TABLE 1

<TABLE>
------------------------------------------------------------
<S>                                               <C>
DESCRIPTION                                              USD
                                                  ----------
DIRECT COSTS
                                                  ----------
  SALARIES AND RELATED STAFF COSTS                   809,850
                                                  ----------
  RELATED STAFF COSTS                                202,450
                                                  ----------
OVERHEADS
                                                  ----------
  PROPERTY                                           168,400
                                                  ----------
  PROFESSIONAL FEES                                  166,700
                                                  ----------
  INSURANCE                                          113,200
                                                  ----------
  COMMUNICATION AND IT COSTS                          19,000
                                                  ----------
  CAR EXPENSES                                        10,600
                                                  ----------
  TRAVEL                                             579,600
                                                  ----------
  DEPRECIATION                                        55,600
                                                  ----------
  OTHER EXPENSES                                      17,500
                                                  ----------

                                                  ----------
TOTAL COSTS                                       $2,142,900
                                                  ----------
40% MARK UP                                         $857,100
                                                  ----------

                                                  ----------
TOTAL FEES                                        $3,000,000
------------------------------------------------------------

------------------------------------------------------------
</TABLE>

For the avoidance of doubt the costs considered do not include the cost of:

     a.   share awards to SIIL personnel under the Vedanta Resources Long Term
          Incentive Plan

     b.   financing costs for provision of funds

Separate charges may be recovered by VR plc for these services.

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The table below lists the persons employed by VR plc and shows the percentage of
time spent by each person in the performance of consultancy services for SIIL.
The costs in Table 1, above, are based on the following time allocation:-

Table 2

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
POSITION                         NAME OF EMPLOYEE                       UK           INDIA
<S>                              <C>                                    <C>          <C>

DIRECTORS
Chief Executive                  MR. ANIL AGARWAL                       60%          40%
Deputy Chief Executive           MR NAVIN AGARWAL                       0%           100%
Finance Director                 MR. PETER SYDNEY-SMITH                 70%          30%
Non- exe Director                MR. MICHAEL FOWLE                      100%         0%
Non- exe Director                MR JEAN-PIERRE RODIER                  100%         0%
Non- exe Director                MR NARESH CHANDRA                      100%         0%
Non- exe Director                DR SHAILENDRA TAMOTIA                  100%         0%
Non- exe Director                MR AMAIN MEHTA                         100%         0%

SENIOR MANAGEMENT
VP Corporate Finance             MR. PRIYANK THAPLIYAL                  90%          10%
Head of Investor
Relations                        MR JOHN SMELT                          90%          10%
Company Secretary                MR MATTHEW HIRD                        90%          10%
Asst, Company Secretary          MR H N MASKARA                         80%          20%

SUPPORT STAFF
Head Office Accountant           MRS POOJA MARU                         100%         0%
Head Office Administrator        MRS JILL HOLLIS                        100%         0%
PA to Chief Executive            MS FIONA PARMAR                        100%         0%
Assistant Accountant             REMI ALARAN                            100%         0%
Driver                           JOHN PADEIRO                           100%         0%
------------------------------------------------------------------------------------------
</TABLE>

                                       16

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Appendix 4

PERSONNEL

The following personnel are employed by VR plc and provide consultancy services
in accordance with this agreement as under:

ANIL AGARWAL
CHIEF EXECUTIVE

Mr. Agarwal is the Chairman and Managing director of SIIL. He is closely
involved in all aspects of business of SIIL ranging from strategy to operational
matters. He devotes the majority of his time to SIIL. He has 29 years of mining
experience.

PETER SYDNEY - SMITH - F.C.A.
FINANCE DIRECTOR

Mr. Sydney Smith is primarily involved in providing financial advice to SIIL.
Key areas of his services include:

     -    Raising finance from international markets;

     -    Providing advice on the financial structure;

     -    Advice on taxation issues;

     -    Advice on legal matters;

     -    Formulation of growth strategy and advice on new business ventures.

     -    Cash flow planning and management;

     -    Assistance in investment appraisal;

JOHN SMELT - MSI (DIP)
HEAD OF INVESTOR RELATIONS

Mr. Smelt is primarily involved in the following areas when advising SIIL:

     -    Developing a global profile for SIIL;

     -    Assistance in formulation of a public relations strategy;

     -    Providing advice on best practice policies and benchmarks relevant to
          the industry in which SIIL operates.

                                       17

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PRIYANK THAPLIYAL - MBA; M. TECH (METALLURGICAL ENGINEERING)
HEAD OF CORPORATE FINANCE

Mr. Thapliyal is primarily involved in the following areas when advising SIIL:

     -    Provision of advice on mergers and acquisition of new ventures,
          businesses and facilities including identification, evaluation,
          negotiating and closure;

     -    Assistance in investment appraisal;

     -    Advising on strategic market planning.

MATTHEW HIRD - A.C.A
COMPANY SECRETARY

Mr. Hird is primarily involved in the following areas when advising SIIL:

     -    Assistance in taxation and legal issues;

     -    Sourcing external advisors and professionals.

     -    Providing support for internal audit;

     -    Assistance in medium-long term financial planning;

     -    Provision of staff training;

     -    Advice on HR practices and policies including long term incentive
          plans;

HARE MASKARA -A.C.I.B; A.I.I.B
ASSISTANT COMPANY SECRETARY

Mr. Maskara is primarily involved in the following areas when advising SIIL:

     -    Liaison with senior SIIL personnel in communication of information and
          advice to and from VR plc;

     -    Assistance in cash flow planning and management;

     -    Assistance in legal and tax issues.

                                       18

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