https://www.engineeringnews.co.za

Vedanta commits to $1.2bn investment into South Africa

24th January 2019

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Diversified natural resources company Vedanta will in the near future have invested $1.2-billion in South Africa.

It has already invested $400-million in the development of the first phase of the Gamsberg mine, in the Northern Cape. Development of the mine started in 2016 and it produced its first finished zinc concentrate late in 2018.

Phases 2 and 3 of Gamsberg could see more than double the $400-million invested in the mine thus far.

Vedanta’s Zinc International subsidiary is undertaking a feasibility study into building a greenfield smelter and refinery at the mine, which could require a further $800-million in investment.

Meanwhile, Vedanta’s cumulative investment into Africa currently stands at nearly $4-billion, it pointed out in a statement on Thursday, ahead of the seventieth Republic Day celebrations to be held in India, on January 26.

Attending the occasion will be President Cyril Ramaphosa, accompanied by Vedanta chairperson Anil Agarwal, CEO Srinivasan Venkatakrishnan and Vedanta Zinc International CEO Deshnee Naidoo.

Vedanta is the largest mining and nonferrous metals company in India and has invested $33-billion there, with a commitment to invest another $8-billion over the next three years.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.129 1.496s - 140pq - 2rq
Subscribe Now