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LSE-listed zinc producer to invest $800M in South Africa
African investmentLondon-based Vedanta Resources is considering to develop a zinc smelter-refinery complex in South Africa with a capacity of 250,000 tonnes of finished zinc metal per year.
The project is to be carried out by Vedanta Zinc International (VZI), a subsidiary of Vedanta Resources, allowing to process concentrates from the company’s Gamsberg project at Black Mountain Mining in South Africa's Northern Cape Province. The investment is estimated to be worth up to $800 million, VZI said in a statement.
"The establishment of the proposed beneficiation plant will make Gamsberg a fully integrated zinc production site, with the mine, concentrator and Smelter-Refinery Complex at single location, making it the first integrated zinc manufacturing facility in South Africa," the statement said.
Vedanta Resources says it is listed on the London Stock Exchange (LSE). The company posted revenue of $11.5 billion