Vedanta, India’s diversified natural resources company with interests in oil and gas, zinc-lead-silver, copper, iron ore, aluminium and power, has recently declared that it is all set to expand its footprint in Africa. It has a long-standing presence in Africa and has invested more than USD 4B in its African operations since 2004. Currently, the company mines copper in Zambia, produces zinc and lead concentrate at Black Mountain Mining (BMM) in South Africa, and zinc metal at Skorpion Zinc in Namibia.
“The true scale of business opportunities in Africa has not yet been explored, particularly in South Africa’s rich natural resources sector,” Anil Agarwal, Chairman of Vedanta Resources said. “I am certain that this visit with Prime Minister Narendra Modi heralds an even more prosperous future for India and the African continent.”
For a natural resources company like Vedanta, South Africa offers a unique opportunity with its wealth of diverse natural resources. Mr Agarwal announced that the group has signed two memoranda of understanding (MoUs) with South African companies as part of the delegation accompanying the Honourable Prime Minister Narendra Modi.
These MoUs are for the development and supply of equipment and the transfer of technology, with the aim of improving safety and productivity at the mechanised underground mines of Vedanta’s subsidiary, Hindustan Zinc Limited (HZL).