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Vedanta Resources to pour Rs 8,500 cr in South Africa

Tuesday, 29 Jan 2019
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Vedanta Resources will make an investment of Rs 8,500 crore to expand its mining and allied operations in South Africa.

The company has committed to invest another Rs 60,000 crore in India in the next three years.

The company has infused USD 1.6 billion in the Gamsberg Zinc mine in the Northern Cape province. Of the total USD 1.6 billion, about USD 400 million has already been spent.

The company has already invested Rs 3,000 crore (USD 400 million) in South Africa and its cumulative investment in the African continent currently stands at around Rs 30,000 crore (USD four billion).

Investment to the tune of Rs 3,000 crore will be done in Phase-I of the Gamsberg project, while Phase-II and III will see more than double the amount invested.The company is currently undertaking feasibility study to build a greenfield, state-of-the-art smelter and refinery as part of the Gamsberg project.

 
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