SMM12 10 July news: Vedanta Co., Ltd. (Vedanta Ltd.) It is planned to expand its zinc production capacity to 1 million tons per year from operations in southern South Africa. The company is expanding production at its new Gamsberg mine in (Northern Cape province), Northern Cape, South Africa, helping it maintain its position as one of the world's largest zinc miners. Vedanta Zinc International (Vedanta Zinc International) is expected to be approved by the board of directors within the next three to six months for the second phase of production at Gamsberg, with an annual production capacity of 450000 tons.
Deshnee Naidoo, chief executive of the company's African basic metals division, told reporters during a visit to the mine on Thursday that the planned expansion project would cost between $350 million and $400m over the next eight years. The current initial production capacity of the project is 250000 tons.
By 2031, Naido said, Gamsberg could use a potential underground mine to increase its annual production to 600000 tons. Together with the supply of the nearby Black Mountain zinc mine and the neighboring Nambiascoll Pien zinc plant, production will reach 1 million tons, she said.
Nedu also said, "We have more than 300m tons of zinc reserves, that is, 22 million tons of underground metal reserves." On this basis, we believe we can become a 1 million ton zinc producer.
Vedanta is also stepping up the feasibility study of the comprehensive smelting facility, with an initial production capacity of 250000 tons per year. It will be the first of its kind in South Africa since Exxonarro Resources Ltd. (Exxaro Resources Ltd.) closed its unprofitable factory in 2011 after failing to find a buyer.
"We have started placing orders for all research projects and have designated companies to conduct feasibility studies," he said.
Naidoo also said Vedanta was eager to participate in South African President Ramafosa (Cyril Ramaphosa) 's efforts to promote investment in the country. Anil Agarwal, founder of Vedanta, India, and the company's majority shareholders compare Africa to the "rising sun of the future".
"We believe we have something on the table and we have a government that is willing to do so," he said.
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