Frustrated Vedanta could stall major SA zinc investment
Before the second phase of the $1.2bn zinc operation can be launched, there are still major logistical hurdles to overcome
One of the key projects held up as a success by president Cyril Ramaphosa’s investment drive, a $1.2bn zinc operation expansion by Vedanta, could be delayed if the government does not actively step up efforts to address a range of issues, such as logistics. The frustrations Vedanta is experiencing surfaced during an interview with Deshnee Naidoo, CEO of Vedanta’s Zinc International division, which is involved in a $1.6bn zinc mine, concentrator and possibly smelter and refinery project in SA, one of the cornerstone investments in Ramaphosa’s push for $100bn of capital projects in SA over five years. “For the first time in a decade we have a president and presidency showing intent of getting it together, but as an industry, private and public, if we don’t quickly start putting the pieces together we are going to lose major opportunities here,” said Naidoo. “It won’t detract me from my investment plans, but it’s going to take me longer. I’m going to have to work harder to make myself ...
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