Mining approves over N.dollars 8bn towards conversion of Skorpion Zinc refinery in Namibia and development of zinc mine in Gamsberg

WINDHOEK: Mining company Vedanta Resources has approved over N.dollars 8 billion towards the conversion of the Skorpion Zinc refinery in Namibia and the development of an open-pit zinc mine in Gamsberg, South Africa.

The London-based diversified metals and mining company’s chief executive officer for Africa-based metals, Rajagopal Kishore Kumar announced the approximately N.dollars 8,6 billion investment for the period 2015 to 2017 during a media briefing in the capital on Friday.

About N.dollars 1,6 billion of the total investment will be utilised to convert the refinery at the Scorpion Zinc Mine and Refinery, enabling it to refine zinc sulphide concentrates from the Gamsberg mine into special high-grade zinc metal.

Trade and Industry Minister Calle Schlettwein welcomed the investment, saying government’s efforts to improve and maintain a positive investment climate has borne fruit.

The Scorpion Zinc Mine and Refinery is located 25 kilometres north of Rosh Pinah in southern Namibia.

SOURCE: NAMPA