Local Goa News

Monday, July 11, 2016

Vedanta inks MoU with South African cos on underground mining technology

Panaji: Vedanta Limited today announced that it had signed two memoranda of understanding (MoUs) with South African companies for the development and supply of equipment, and the transfer of technology, with the aim of improving safety and productivity at the mechanised underground mines of Vedanta's subsidiary, Hindustan Zinc Limited (HZL).

The first MoU relates to development of ground support systems that are critical for operational safety in underground mines while the second MoU covers the manufacture of underground utility equipment and specifically the development of local skills in India to maintain this equipment. The ground support systems will be manufactured in India.
"India's partnerships with South Africa over one and a half centuries have contributed to the bedrock of global economic growth," said chairman of Vedanta Anil Agarwal. "South Africa's economy continues to benefit from India's highly skilled and sophisticated services sector while India is securing its growing need for natural resources through ever-deepening bilateral trade ties. These two emerging powers give rise to countless opportunities and Vedanta is perfectly poised to facilitate development and prosperity in both nations."
Vedanta has invested over US$4 billion in Africa since establishing a presence on the continent in 2004. Currently, the company mines copper in Zambia, produces zinc and lead concentrate at Black Mountain Mining (BMM) in South Africa, and zinc metal at Skorpion Zinc in Namibia.

TOI Goa News

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