Vedanta to invest $1 billion in Northern Cape zinc smelter
CFO Pushpender Singla says this could trigger new industrial and economic development in the province.
Deshnee Naidoo, head of Vedanta’s zinc unit, announced last week that the globally diversified natural resources company will be investing $1 billion in a zinc smelter-refinery complex to process concentrates from its Gamsberg project in South Africa.
Vedanta CFO Pushpender Singla commented on the new investment:
“Africa has tremendous natural resources and excellent mining skill, so our Chairman is fully committed to invest more than $1billion in Africa. Accordingly, we have started a feasibility study into the development and construction of a zinc smelter-refinery complex to process concentrates from our Gamsberg project and to produce 250,000 tpa of finished zinc metal in the Northern Cape through our subsidiary Black Mountain Mining.”
The plant will make Gamsberg the first fully integrated zinc production site in South Africa, with the mine, concentrator and smelter-refinery complex in one location.
The investment will have a significant positive impact on the Northern Cape, creating jobs and further development opportunities in the region.
“The expansion of Gamsberg into beneficiation streams has the potential to trigger a new wave of industrial and economic development the Northern Cape, which could provide additional opportunities for Vedanta and others in what is one of the least developed regions of South Africa.”
Vedanta is among the top producers of Zinc-Lead-Silver, Iron ore, Steel, Copper, Aluminium, Oil and Gas.