Vedanta already turning Anglo’s discarded zinc assets to account.
Diversified mining company Vedanta, which is being associated with the acquisition of 13% of the equity of Anglo American by Volcan Investments because of the link both these entities have with Indian billionaire Anil Agarwal, has done well with the South African assets it acquired from Anglo seven years ago.
On the $1 338-million Vedanta paid for Anglo’s zinc assets in 2010, the London-listed, India-rooted company achieved full payback two years later through decisive underground and near-pit mining. It is now managing to do what both Anglo and Gold Fields failed to do before it – build a zinc mine at Gamsberg, in South Africa’s Northern Cape, which has been 40 years in the waiting.
Vedanta’s face in these parts is that of Deshnee Naidoo, formerly of Anglo American, who has managed to shave close to $200-million off the project’s original capital estimate to take it down to $400-million.
This story is from the Mining Weekly 31 March 2017 edition of Mining Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Mining Weekly 31 March 2017 edition of Mining Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Digitalised Mining Can Allow For Deeper Mining
The University of the Witwatersrand (Wits), in Johannesburg, will test its latest developments in digitalised mining technology in underground mining conditions in the next two months at the Sterkfontein caves, a World Heritage Site in Muldersdrift, near Krugersdorp.
Beyond Expectations
Anglo exceeds target as 2016 net debt declines to $8.5bn
Many Leagues Under The Sea
Proponents see glistening future in seabed mining, but environmentalists fret.
Greater Demand For Credible, Local Testing Spurs Growth
Local environmental laboratory X-Lab Earth Science plans to expand its sup-port for air-quality testing companies servicing the mining and minerals industry as demand grows for accredited data analysis in this sector.
First Bougouni Drilling Assays 'Highly Encouraging'
West Africa-focused mineral exploration and development company Kodal Minerals has a busy exploration programme planned for the months ahead, with a focus on its lithium projects at Bougouni, in Mali.
Market Barometer
ETFs act as market indicator for precious metals, ensuring improved transparency.
Test Production Starts at Mowana
Africa ­focused gold and copper explo­ration and develop­ment company Alecto Minerals has started test production at its Mowana copper project, in Botswana, after initial commissioning at the project’s process plant, says CEO Mark Jones.
Digging Deeper Becoming More Attractive, Financially Possible
Developing a new shaft is regarded as a grudge purchase by mining compa-nies and their shareholders because of the capital-intensive nature of such projects.
Shaft Sinking Progresses at Platreef's Shaft 1
The sinking of Shaft 1 at the Platreef platinum- palladium-gold-nickelcopper project, in Limpopo, South Africa, has reached a depth of more than 283 m below surface, 697 m away from its target depth.
Supply Cliff?
Commodities supply shortfall looming following years of underinvestment
