Vedanta acquires Goa-based Nicomet; becomes only nickel producer in India

Nicomet has a capacity to produce 7.5 tonne per annum of nickel and cobalt.

Anil Agarwal-led Vedanta Limited said on Monday it has acquired Goa-based Nicomet, a leading nickel and cobalt producer.

The company is making the acquisition when the nickel market is tightening with a surge in battery demand and an increase in global stainless-steel production in recent years--a trend expected to continue into 2022, said Vedanta in a press release.

"We are excited about Vedanta’s foray into nickel and cobalt production which will play a critical role in supporting Govt’s mission for an Atma Nirbhar Bharat. Nickel and Cobalt are a metal of great strategic importance, especially for our transition towards clean