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Vedanta Group's flagship company, Vedanta announced the doubling of its annual zinc production capacity to 500,000 tonnes at its South Africa zinc operations. This is through an investment of nearly US$ 600 Mn at Gamsberg (Phase II) at Vedanta Zinc International (VZI).
Gamsberg, in South Africa's Northern Cape province, has one of the world's most significant zinc deposits and VZI's flagship zinc mine. This expansion marks one of the largest mining investments in South Africa in this decade. The expansion further advances Vedanta's position as the world's largest zinc producer, with a vision of achieving 3 million tonnes of annual production across India and South Africa.
Of this, 2 million tonnes are targeted from its subsidiary, Hindustan Zinc, while Vedanta Zinc International business aims to contribute 1 million tonnes annually.
This expansion forms part of the ZAR 21 Bn (nearly US$ 1.5 Bn) investment commitment Vedanta made at the 2018 South Africa Investment Conference. At last month's 18th BRICS Summit in New Delhi, President Ramaphosa called for increased Indian investment in key South African industries. Vedanta's continued investment in the Northern Cape demonstrates the tangible value of this growing economic partnership.
Vedanta is a step-down subsidiary of Vedanta Resources. Vedanta houses the Group’s base metals portfolio, including Zinc India, Zinc International, copper and other emerging businesses such as nickel. The entity, through its subsidiary Hindustan Zinc, is among the largest producers of zinc, lead and silver, commanding a strong market position in India.
The company had reported 152% jump in consolidated net profit to Rs 5,294 crore in Q1 FY27 from Rs 2,102 crore in Q1 FY26. Consolidated revenue for the period under review was Rs 23,456 crore, up 51% YoY.
The scrip declined 3.10% to settle at Rs 253.10 on the BSE.
The announcement was made during market hours today.
The scrip shed 0.04% to end at Rs 258.90 on the BSE.