Vedanta says Gamsberg mine to produce zinc ore from 2018

Image
Reuters LONDON
Last Updated : Jul 27 2015 | 6:28 PM IST

LONDON (Reuters) - Vedanta Resources' Gamsberg zinc mine is on track to produce ore from early 2018 and will partially replace output from its Lisheen mine in Ireland, which is due to close in November, the mining firm said on Monday.

The Gamsberg open pit mine, which is located near the town of Aggeneys in South Africa, is expected to have a life of approximately 13 years.

Vedanta has approved a $782 million investment over 3 years to develop Gamsberg and to convert the Skorpion zinc refinery in Namibia.

"The majority of the investment, approximately $630 million, will go towards developing the open pit zinc mine, concentrator plant and associated infrastructure at Gamsberg," Vedanta said in a statement.

"The balance will be used to convert the refinery at Skorpion Zinc in Rosh Pinah, Namibia, enabling it to refine zinc sulphide concentrates from the Gamsberg Mine into special, high-grade zinc metal."

Vedanta had previously said the Lisheen mine, which produces about 165,000 tonnes of zinc metal in concentrate per year, would close in October.

(Reporting by Pratima Desai; editing by Jason Neely)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 27 2015 | 6:19 PM IST

Next Story