Vedanta (NSE:VEDL, BOM: 500295) said Monday it would ramp up its zinc production in South Africa by investing nearly $600 million at the Gamsberg (Phase II) site, according to a same-day bourse filing.
The move will double Vedanta's zinc production in the country to 500,000 tonnes per year, and boost annual output to 3 million across India and South Africa, the Indian mining giant said.
The investment is part of a larger $1.5 billion pledge Vedanta made to the country back in 2018.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments