VZI Anchors the Cabinet Approved Namakwa Special Economic Zone

07 June 2023 - Aggeneys,
Vedanta Zinc International (VZI) represent the largest Indian investment in South Africa and is one of the largest developer in the Northern Cape. In 2018, VZI pledged a R21 billion investment to the South African economy which comprises R6.5 billion to Gamsberg Phase I, R7 billion to Gamsberg Phase II, and a further R10 billion for the development and construction of the Gamsberg Zinc Smelter in the near future.

We are pleased to announce that in partnership with the Northern Cape Provincial Government, the Namakwa Special Economic Zone (SEZ) was recently approved by Cabinet on 24 May 2023 and is currently undergoing public comment. The SEZ will attract various investment commitments of which R16 billion is from VZI as the anchor investor to invest in Gamsberg Zinc Mine and proposed Gamsberg Zinc Smelter, subject to the infrastructure development and incentives framework by the South African government. The Namakwa SEZ will be adjacent to the mining town of Aggeneys with more than 1 200 hectares area spread across VZI’s Black Mountain Mining (BMM) property. The town is in the Khâi-Ma Local Municipal area within the Namakwa District of the Northern Cape Province.

“We are extremely excited to partner with the South African government and to be part of the Presidential Investment Drive. The establishment of the Namakwa SEZ in the mine complex will become a great catalyst for stimulating growth of secondary industries, downstream beneficiation, and invigorating economic development in the region,” says VZI Executive Director & CFO, Pushpender Singla.

When fully developed, the Namakwa SEZ will have a positive ripple effect that will enable economic growth and development along with a positive socio-economic impact on the communities of the Khâi-Ma municipal area, Namakwa District and the Northern Cape at large.

Singla enthusiastically states: “The Namakwa SEZ will further enable VZI’s 'Business with Purpose' model (designed to ensure that host communities are left better off as a result of the operational investment) to unlock new community projects that will lead to better education, health, skills development programmes, infrastructural development, SMME opportunities and development, and job creation in the Khâi-Ma municipal area, Namakwa District, Northern Cape and South Africa at large.”