R5.5 billion zinc mine for SA

Cyril Ramaphosa Source: Google Images

President Cyril Ramaphosa will on Thursday officially open the R5.5 billion investment zinc mine in the Northern Cape, the Presidency said on Sunday.

The Gamsberg Mine near Aggeneys is located in the mining centre between Springbok and Pofadder and will contribute to job creation and skills development.

The new mine is owned by India’s globally diversified natural resources company Vedanta Resources Limited as part of their Black Mountain Mining (BMM) operations.

The Presidency said Gamsberg will exploit one of the largest known, undeveloped zinc ore bodies in the world and will comprise an open pit mine and a dedicated processing plant.

“The first phase of the zinc mine, which has an estimated lifespan of over 30 years, is an investment of US$400 million, (over R5.5 billion), which employed more than 3000 people at the height of construction.