UPDATE 1-Vedanta's Agarwal to donate most of fortune to charity

(Adds Agarwal comments)

By Silvia Antonioli

Sept 25 (Reuters) - Anil Agarwal, the billionaire controllerof Vedanta Resources Plc, announced late on Thursdaythat he and his family had agreed to give 75 percent of theirwealth to charity.

Agarwal, a one-time scrap metal dealer, made theannouncement at an event in London to celebrate the 10 yearanniversary of Vedanta's listing on the London Stock Exchange.

Agarwal told Reuters he would keep his stake in the miningcompany for now but might ultimately divest it.

"We have decided we have to give back to society," he saidon the sidelines of the Vedanta event.

Forbes estimated that the 61-year-old Indian entrepreneurhas a net worth of $3.5 billion.

(Reporting by Richa Naidu in Bangalore and Silvia Antonioli inLondon; Editing by Cynthia Osterman)