Vedanta’s Multi-Billion Investment to Boost Region

Vedanta Resources plc, the London-listed mining company, has approved a US$782 million (about N$8.7 billion) investment for Namibia and South Africa over a 3-year period, of which US$152 million (about N$1.7 billion) will be used to convert the refinery at Skorpion Zinc in Rosh Pinah to refine zinc sulphide concentrates.

The majority of the investment, US$630 million (about N$7 billion) will be used to develop an open pit zinc mine in Gamsberg, South Africa, while the converted refinery at Skorpion Zinc will be instrumental in refining zinc sulphide concentrates from the Gamsberg Mine into special high grade zinc metal. The Gamsberg Mine, where Vedanta will construct a concentrator plant and associated infrastructure, is known as one of world’s largest undeveloped zinc deposits.

“The Gamsberg-Skorpion Integrated Zinc Project is central to Vedanta’s long-term aspirations for southern Africa,” said Tom Albanese, Chief Executive Officer of Vedanta. “It will also allow Vedanta to make a significant contribution to enabling the South African government to achieve its goal of using the country’s vast mineral wealth to help fight poverty and uplift communities through the creation of sustainable, long-term employment opportunities. This project provides significant synergies to both our operations and complements the needs of the region.”

Source : New Era