BUSINESS OF ZINC

BULLISH ABOUT NEW SMELTER

VEDANTA Zinc International, owned by Indian billionaire Anil Agarwal, is bullish about its plans to invest $800 million (R11.05 billion) in a smelter in the Northern Cape, despite a load-shedding programme that has threatened the economy. Company chief executive Deshnee Naidoo told journalists yesterday that the company would take its chances with the country and Eskom by forging ahead with the smelter-refinery complex. Naidoo said the company would not only rely on Eskom for its power needs, but would approach private producers. “We know to build a meter will be challenging as it is no longer a greenfields project. We have built smelters in India five times. That is why we are confident we can do this,” she said. The company has started a feasibility study into the construction of a smelter that will process concentrates from its Gamsberg project outside Springbok, Northern Cape. It has claimed that the smelter will make it the first integrated zinc facility in the country. Naidoo announced the $800m investment during President Cyril Ramaphosa’s investment Conference in October. | dineo.faku@inl.co.za