Vedanta Zinc International pegs ambitious growth plan on South Africa projects

Gamsberg, part of Vedanta’s Zinc International SA operations, started first-phase production in 2018 and the project is expected to act as an anchor for the company’s ambitious growth plans, adding as much as 600,000 tons of zinc to the company’s annual production in its final phase. In the stark and arid Northern Cape, 60km from Pofadder, in […]

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Vedanta says its Anglo American stake buy meets India’s criteria

Vedanta, the natural resources company controlled by Anil Agarwal said  its foreign subsidiary Cairn India Holdings’ $200 million investment in Anglo American met all governance requirements. The company, India’s largest miner and No. 1 iron ore exporter, said the deal was made on an arms-length basis in December 2018, adding it provided “significantly higher” returns compared […]

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Vedanta’s Anil Agarwal to become Anglo America’s top shareholder after $2 billion investment

Indian billionaire and chairman of the UK-based Vedanta Resources Anil Agarwal is planning to increase his investment in Anglo American by as much as 1.5 billion pounds ($2 billion), which would make him the biggest shareholder in the diversified miner. The acquisition of further shares will be done through Volcan Investments Ltd., the family trust of Agarwal, […]

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Early Diwali this year boosts De Beers rough diamond sales

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Anglo American’s De Beers, the world’s top diamond producer by value, said it saw an 5.7% rise in rough diamond sales during the sixth cycle of the year compared with the previous one, as earlier Diwali festivities in India brought forward demand from Indian diamond polishers. Diwali, or festival of lights, is India’s biggest and most important holiday […]

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De Beers launches $156 million diamond-hunting ship off the coast of Namibia

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Mining giant Anglo American’s De Beers has launched a state-of-art £122 million ($156 million) exploration ship that will scan for diamonds on the seabed off the coast of Namibia. The mv SS Nujoma is equipped with sonar technology and a drilling device that can probe the ocean floor and take samples more quickly and efficiently than previous vessels. […]

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South African miners threaten to sue the government over its proposed new mining charter

South Africa’s Chamber of Mines has threatened legal action against the government over the new mining charter. The new conditions of the charter, the chamber says, will deter much-needed foreign investment and have been drafted with little consultation from the industry. A shake-up to the mining code in South Africa could have a far-reaching impact […]

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Anglo American appoints Stuart Chambers as new chairman

Anglo American, the world’s fifth-largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group. Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November. Chambers, known for his acumen in buying and selling companies may not have to deal […]

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Diamond miners eye India’s millennials with “Real is Rare” campaign

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The world’s top diamond producers have planned to spur demand in India with the launch of their “Real is Rare” slogan in September, after last year’s withdrawal of high-value bank notes dented the world’s third-biggest diamond market. The Real is Rare slogan was launched in the United States in 2016 by the Diamond Producers Association […]

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De Beers reports fall in diamond sale, but remains bullish

Anglo American PLC majority-owned De Beers Group reported a 25% fall in diamond sales during the second cycle of the year, compared with the traditionally stronger first cycle, in line with its expectations. De Beers, the world’s largest rough diamond producer by value, reported provisional diamond sales of $545 million for the second sales cycle […]

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