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Sesa Sterlite to invest $782 million in southern African mines

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Staff writer ▼ | November 14, 2014
Sesa Sterlite will invest $782 million in southern African mines over a three-year period.
Sesa Sterlite
Spreading   Over a three-year period
Sesa Sterlite will inject this fund into the development of an open pit zinc mine in Gamsberg, South Africa, as well as the conversion of the Skorpion Zinc Refinery in neighboring Namibia.

According to the company, about $630 million of the fund will be used to develop an open-pit zinc mine, concentrator plant and associated infrastructure at Gamsberg, one of the world’s largest underdeveloped zinc deposit. The balance will be used to convert the refinery, at the Skorpion Mine in Namibia, to enable it refine zinc concentrates into high grade metal.

The output from Gamsberg coupled with extending the life of the refinery at the Skorpion Mine will make Southern Africa one of the most important suppliers of refined Zinc globally, the company said.

The Gamsberg integrated zinc project will create 1500 jobs during construction and result in approximately 500 permanent jobs.