HomeBase MetalsVedanta buys Anglo's zinc assets

Vedanta buys Anglo’s zinc assets

Skorpion zinc mine
in Namibia “’ one of
the Anglo mines bought
by Vedanta
London, England — MININGREVIEW.COM — 12 May 2010 – India-focused mining group Vedanta Resources has announced that it has purchased the zinc assets of Anglo American for US$1.34 billion (R10 billion) in order to boost its international exposure to the metal.

Revealing this in a statement issued here, Vedanta added that it would become the world’s largest zinc producer, with 11% of the global market, after buying the assets, which included the Skorpion mine in Namibia, Lisheen in Ireland and Black Mountain in South Africa.

“These high quality assets complement Vedanta’s existing portfolio, creating the largest zinc and lead producer in the world,” chairman Anil Agarwal confirmed.

For Anglo, the sale is another step in a divestment programme that seeks to trim its portfolio and focus on key commodities, such as copper, iron ore and platinum.