Sesa Sterlite to invest $782 mn for zinc deposits in Africa

Sesa Sterlite Ltd said on Thursday it would invest $782 million over a three-year period in southern Africa to tap the region's large undeveloped deposits of the metal.

The company would spend about $630 million to develop an open-pit zinc mine and associated infrastructure at Gamsberg, the company, part of the London-listed Vedanta Resources Plc said in a statement.

The balance will be used to convert the refinery at the Skorpion mine in Namibia to enable to it to refine zinc concentrates into high grade metal, it added.

(Reuters)