Vedanta chairperson Anil Agarwal
Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – Diversified natural resources company Vedanta has inked two agreements with South African firms to improve the safety and productivity of the company’s subsidiary Hindustan Zinc’s mechanised underground mines, in India.
Two memoranda of agreement (MoA) were signed for the development and supply of equipment, along with the transfer of technology.
An MoA was been signed with an undisclosed South African firm for the development of ground support systems – set to be manufactured in India – that were critical for operational safety in underground mines.
Another MoA related to the manufacture of underground utility equipment and the development of local skills in India to maintain the equipment.
“India’s partnerships with South Africa over one-and-a-half centuries have contributed to the bedrock of global economic growth,” Vedanta chairperson Anil Agarwal said in a statement on Tuesday.
South Africa’s economy also continued to benefit from India’s highly skilled and sophisticated services sector, while India was securing its growing need for natural resources through ever-deepening bilateral trade ties.
“These two emerging powers give rise to countless opportunities and Vedanta is perfectly poised to facilitate development and prosperity in both nations,” he concluded.