Vedanta aims to complete $1bn investment in South Africa soon

  • 📰 MiningWeeklyAUS
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Globally diversified Indian-headquartered mining company Vedanta Resources chairperson Anil Agarwal has told Mining Weekly that the company aims to complete its commitment to invest $1-billion in South Africa in the near future, although its plans are being held up by a lack of reliable infrastructure and energy security. Vedanta has already invested significantly in zinc mining in South Africa.

has toldthat the company aims to complete its commitment to invest $1-billion in South Africa in the near future, although its plans are being held up by a lack of reliable infrastructure and energy security.

"We are going to invest another $500-million for a smelter and making the final product. The government has been working with us, creating an industrial hub in that area because they have human resources and natural resources," Agarwal said. The company's commitment to social responsibility is showcased through its employment of 3 000 individuals, with plans to add another 2 000 jobs upon the completion of a smelter, bringing its total investment to $1-billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 233. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Opinion: Why South Africa’s mining law facilitates Chinese investmentIn this article, Malan Scholes Attorneys director and mining lawyer Hulme Scholes writes that South Africa's mining and empowerment legislation may benefit Chinese entities rather than discourage their investment in the South African mining sector.
Source: MiningWeeklyAUS - 🏆 233. / 63 Read more »