Vedanta Zinc International (VZI) has declared an increase in its total mineral reserves and resources from 450MT to 525MT (17%) for the financial year ending 31 March 2020. The mineral reserves and resources stated include those of Gamsberg, Swartberg, Deeps, and Skorpion.
VZI is a grouping of zinc assets located in South Africa and Namibia and is part of the global mining and metal conglomerate, Vedanta Limited, the sixth largest diversified resources company in the world.
“We are very pleased with the outcome of the 216km of exploration drilling that we have undertaken in the last three years which has enabled the overall positive growth of our mineral reserves and resources. We are also excited to see an increase in mineral reserves due to the completion of a Gamsberg Phase-II expansion study,” said Mr. Sunil Duggal, Group CEO of Vedanta Limited.
He also added that VZI will continue to accelerate its exploration drilling efforts which it believes will highlight the longer-term potential of the Gamsberg and Swartberg mines while being committed to continued growth and investment into the Northern Cape province. The increased reserve and resource have enabled VZI to be in a position where its objective of being a driver of industrialisation, transformation and employment in the Northern Cape, South Africa, is closer to becoming a reality.
Highlights
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At Gamsberg, VZI’s flagship project, mineral reserves have increased by 104% from 53.7Mt in 2019 to 109.8Mt in 2020.
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Underpinned by significant exploration drilling, VZI as a whole also recorded a marked increase in mineral reserves by 121% from 63.5Mt in 2019 to 140.4Mt in 2020.
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VZI’s total combined metal contained in reserves now stands at 8.5Mt.
Note: The figures for mineral resources and reserves contained herein have been prepared under the guidance of competent persons and are reported in accordance with the principles and guidelines of the JORC and SAMREC.