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Real Economy News in Real Time
R/€ = 16.37 Change: -0.08
R/$ = 14.38 Change: -0.05
Au 1414.91 $/oz Change: 30.83
Pt 811.96 $/oz Change: 8.37
 
 
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African zinc production to rise to 5% of global share with Gamsberg development

24th May 2019 BY: Marleny Arnoldi
Creamer Media Online Writer

Vedanta’s $400-million investment into the Gamsberg zinc mine, in South Africa’s Northern Cape, will result in Africa’s zinc production rising to 5% of global production, compared with the current 3.4%, CNN said on Friday.

CNN Marketplace Africa will, on Friday evening, air a discussion by host Eleni Giokos on the South African zinc mining industry and how the Gamsberg investment will unearth the country’s zinc potential.

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An estimated 215-million tonnes lies untouched in South Africa’s Northern Cape province, where the Gamsberg mine is based.

President Cyril Ramaphosa on a separate occasion commented that the investment into Gamsberg was significant in a country that had seen a decline in mining activity, which has always been a significant sector for the country.

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Vedanta expects to produce four-million tonnes of ore and 250 000 t of concentrate a year.

A release by CNN stated that most of Africa’s zinc production is processed outside of the continent. However, Vedanta Zinc International believes this will change, saying that the company plans to develop a smelter in South Africa, which will also serve South Africa’s 100 000 t/y of zinc demand.

Zinc is often used to galvanise steel and, therefore, rising steel demand will see zinc demand increase. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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