PANAJI
Vedanta will be signing two memoranda of understanding (MoUs) with South African companies when its chairman, Anil Agarwal, visits South Africa as part of the delegation accompanying Prime Minister Narendra Modi.
A company’s press note said, “These MoUs are for the development and supply of equipment and transfer of technology, with the aim of improving safety and productivity at the mechanised underground mines of Vedanta’s subsidiary, Hindustan Zinc Limited (HZL).”
Around 125 South Africans work on HZL sites across India, and Vedanta has awarded projects worth 300 million US dollars to at least seven companies based in South Africa to date.
Vedanta produces zinc and lead concentrate at Black Mountain Mining (BMM) in South Africa. Recently, Vedanta started its Gamsberg Zinc Project at BMM with a capital investment of 400 million US dollars. Gamsberg is in Northern Cape and it holds one of the world’s largest undeveloped zinc sulphide deposits.
Apart from this, Vedanta also mines copper in Zambia and produces zinc metal at Skorpion Zinc in Namibia. Agarwal said, “The true scale of business opportunities in Africa has not yet been explored, particularly in South Africa’s rich natural resources sector. I am certain that this visit with Prime Minister Narendra Modi heralds an even more prosperous future for India and the African continent.”
