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Vedanta board approves R7bn investment for Gamsberg Mine expansion
The Vedanta board has approved R7bn in investment for the expansion of Gamsberg Mine in the Northern Cape. The investment will enable the mine to double its annual ore capacity from 4 million tonnes to 8 million tonnes.
Gamsberg Mine, Northern Cape. Source: Supplied
It will also be able to build another 4Mt concentrator plant to produce an additional ~200,000 tonnes of zinc metal in concentrate. With this expansion, Vedanta Zinc International (VZI), South Africa, is set to become the largest zinc producer in Africa with an annual production of ~500,000 tonnes of zinc metal in concentrate.
VZI executive director and CFO Pushpender Singla
"This investment approval indicates VZI's commitment to keep growing even amid a pandemic that has halted majority growth investments and threatened the survival of companies across various industries," says VZI executive director and CFO Pushpender Singla.
"This investment is a sign of our commitment to partnering with the Northern Cape Government. It also serves as the beginning of new business opportunities with some of the local businesses and a continuation of partnerships with other small companies in the province. In addition, this project will form part of the Namakwa Special Economic Zone which will contribute and grow secondary industries."
Job creation
Over 1,200 permanent personnel are currently employed at the Gamsberg Mine. Gamsberg Phase 2 (R7bn investment) aims to create 1,500-2,000 jobs at its peak during the construction phase and 800-1,000 permanent jobs during operations.
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