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INVESTMENT 'BESTIE'

18th May 2018

By: Martin Creamer

Creamer Media Editor

     

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Indian mining billionaire Anil Agarwal’s association with South Africa began eight years ago when Vedanta Resources, the London-listed, India-rooted diversified mining company he founded and heads, bought Anglo American’s zinc assets, achieved payback in a couple of years and went ahead with building the new Gamsberg zinc mine. He regards South Africa as his investment ‘bestie’ and has given his company the thumbs up to study the economic feasibility of establishing a major zinc complex in the Northern Cape. This is his investment score so far: R50-billion into Africa, R21-billion of that in Southern Africa and R100-million on community relations in South Africa and Namibia. Agarwal is enthralled by the target set by President Cyril Ramaphosa to attract $100-billion worth of investments into South Africa and believes he can play a catalytic role in helping him achieve that. He holds more than 21% of the shares of Anglo American itself and is encouraging Anglo to accentuate its South Africa link and put more South Africans on the board. The 101-year-old Anglo switched its primary listing from Johannesburg to London 19 years ago.

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