Vedanta Resources Share News (VED)

(Adds CFO comments from Vitol, Castleton, Trafigura)

LAUSANNE, Switzerland, March 21 (Reuters) - Executives fromthe world's largest trading houses and mining companies arediscussing market trends at the FT Commodities Global Summit inLausanne, Switzerland, this week.

The following are Wednesday's highlights:

CHRISTOPHE SALMON, TRAFIGURA, CFO

"There has been low oil volatility so our ability to capturearbitrage is lower. One of the mitigators to that is probablydiversification. Trafigura does not only rely on oil trading, wehave metals and other revenue streams."

"How do you improve revenue? You need to have an efficientplatform and build up your IT systems. The big financing centresare in expensive jurisdictions, we counter that we have todevelop service centres in more cost effective jurisdictionslike India, like Uruguay. That's what we can try. It cannot bedone overnight."

"We don't want to enter prefinancing for the sake of it.It's just a means to get a term offtake contract. It is true intoday's situation, producers are much more comfortable withtheir own access to funds so they have more bargaining power."

JEFFREY DELLAPINA, VITOL, CEO

"We're still very comfortable being very active in the bankspace. We don't need the public markets and institutionalinvestors that come with that. We haven't been back to themarket for term debt beyond bank revolvers for 5 years. We maylook for the possibility of private capital but we don't reallyneed it."

"What will be more active is the portfolio companies wehave. They have greater need for term capital structure andwe'll probably only ask for public markets when they go publicbut they are still being well serviced by the banking sector."

"Nigeria is very important to us. We've had offices therefor decades. We do like what's been happening for the last fewyears. It was challenging for a bit on the currency side. We arelooking at upstream, financing as well as downstream."

DANIEL HINES, CASTLETON COMMODITIES, CFO

"We've been changing the mix of our financing over the last5 years. We were us focussed power and gas. Borrowing basefacility has worked very well but as we've been expanding andgrowing the oil business we've had to adapt and expand the mixof financing."

"We have looked outside the bank market for sources ofliquidity. On the equity side, we've brought in some minorityinvestors in our various asset portofolios. Tokyo Gas came in asa minority investor and in a recent power acquisition we broughtin a 50 percent equity partner."

MARK CUTIFANI, ANGLO AMERICAN, CEO

"Ramaphosa has put out all the right messages. He startedoff exceptionally well. I'm very optimistic. I'm long SouthAfrica."

Referring to South Africa's mining charter draft:

"We know they have to work from the existing draft document.(Ramaphosa) would like to get it done in three months, I thinkit will take nine months."

"We think South Africa is going in the right direction butis it competitive with the world in terms of where to put ourdollar?"

"I always have the energy for another five years (as CEO).It's the board's call. From my point of view, if you can't seeanother 30 percent improvement then it's time to go. I see a lotmore than 30 percent."

Referring to Anil Agarwal, of Vedanta Resources,which bought a stake in Anglo last year:

"I don't know (if he will stay passive). He has been veryhappy with strategy and keeps saying management is doing a goodjob. He's actually in the money today so I think he's pleased."

For Tuesday's highlights, click on(Reporting by Dmitry Zhdannikov and Julia Payne, editing byLouise Heavens)