Vedanta to invest $1 bn in Gamesberg mine project by 2019 – Feedback

Mining conglomerate Vedanta Resources will invest a total $1 billion (about Rs 6,600 crore) in its Gamsberg mine project in South Africa, which is one of the world’s largest undeveloped zinc deposits.

Development of Gamsberg project was announced in November 2014, which included development of 4 million tonne per annum (MTPA) open pit zinc mine, concentrator plant and associated infrastructure. Vedanta expects ore production to start from 2018 with 9-12 month ramp-up to full production. “We will invest a total of $1 billion in the Gamesberg project over the next three years, of which around $150 million has already been invested,” Vedanta Resources Chairman Anil Agarwal told. On investments in Africa, Agarwal said: “Vedanta Resources has invested around Rs 25,000 crore in Africa in the last 13 years. We have a strong presence in Namibia, Zambia and South Africa.”

http://profit.ndtv.com/news/corporates/article-vedanta-to-invest-1-billion-in-gamesberg-mine-project-by-2019-1429594

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