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.