Sesa Sterlite is planning to invest $782 million over a three-year period in southern Africa to tap the region’s large undeveloped deposits of the metal and offset a fall in production volume from its mine in Ireland.
Of total, the company would spend about $630 million to develop an open-pit zinc mine and associated infrastructure at Gamsberg, South Africa, while the balance will be used to convert the refinery at the Skorpion mine in Namibia to enable to it to refine zinc concentrates from Gamsberg into special high grade metal.
Sesa Sterlite is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.
