Vedanta Becomes World's Largest Zinc Producer
Vedanta Resources has bought Anglo American's zinc assets for $1.34 billion in a deal that will see it become the world's largest zinc producer.
After the deal has gone through, Vedanta will have 11 percent of the global zinc market, including the Skorpion mine in Namibia, Lisheen in Ireland and Black Mountain in South Africa.
"These high quality assets complement Vedanta's existing portfolio, creating the largest zinc and lead producer in the world," Chairman Anil Agarwal said.
The sale for Anglo is one step on a divestment programme that seeks trim its portfolio and focus on key commodities, such as copper, iron ore and platinum.
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