Vedanta Resources says it invested 4-bn USD in Africa, reaffirms commitment

Vedanta Resources says it invested 4-bn USD in Africa, reaffirms commitment

Vedanta Resources, a natural resources global company listed in the London Stock Exchange, says it was committed to the African continent, where it has invested 4-billion USD since 2005.

The company, which is participating for the first time in the Africa Mining Indaba currently taking place in Cape Town, South Africa, says it has wide-ranging interests in aluminum, copper, zinc, lead, iron ore, oil and gas, and power generation in Africa.

“Africa is critical to our growth and success, as the depth and quality of our portfolio so amply demonstrates. We are delighted to be making our first appearance at the Mining Indaba,” Vedanta Zinc International CEO Kishore Kumar said.

“Our approach is to partner with governments and communities associated with our operations to make a lasting positive contribution to society,” Kumar said, adding that his company was pursuing attractive investment opportunities on the continent.

Vedanta Resources has operations in eight countries worldwide, including four in Africa. Its flagship operation in Africa, Konkola Copper Mines in Zambia, is one of the continent’s top three copper producers. In South Africa it produces zinc, lead, copper and silver concentrates at Black Mountain in the Northern Cape, where it is also developing the Gamsberg deposit, one of the largest zinc deposits in the world.

Recently its subsidiary Cairn India Limited concluded a farm-in agreement with Petro SA to explore crude oil and natural gas in the Orange Basin. It also operates a zinc mine and the continent’s only zinc smelter, Skorpion Zinc, in Namibia and is developing an iron ore project in Liberia.

Kumar said Vedanta was aiming to deliver industry-leading production growth through greenfield and brownfield projects to drive long-term value, while focusing on sustainability.

The company also said it was planning to increase the life of mine of its operation at Black Mountain and Gamsberg in Northern Cape, and at Scorpion Zinc subject to the adequate provision of power and other infrastructure.

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