It said the employee share ownership plan would be overseen by the Voorspoed Trust. Black Mountain Mining on Friday announced the establishment of a seven-year employee share ownership plan, the terms of which have been reached through consultation between mine management and the National Union of Mineworkers (NUM).
The Indian miner has enjoyed a smooth entry into the country and is even eyeing a potential merger between Anglo American and one of its subsidiaries, Hindustan Zinc
Tom Alabanese, CEO of diversified mining company Vedanta, speaks to Alishia Seckam at the Mining Indaba about the recovery in commodity prices over the past year and whether there’s more room for improvement.
Vedanta executive chairman, Anil Agarwal, hasn’t entirely given up the notion of combining his group’s Hindustan Zinc with Anglo American which he said today was “a transaction that needs to be digested”.
Vedanta Zinc International (VZI)’s Gamsberg project in the Northern Cape is now entering the main construction phase with the recent appointment of the EPCM contractor for the processing plant and related infrastructure and the bulk mining contractor.
Although the general outlook for mining has been rather negative, the zinc market has been able to distinguish itself from most other commodities, as it is forecast to be structurally short in supply with concentrate in deficit this year.
Mining companies are becoming ever more aware of the need to ‘green’ their projects as much as possible, with some turning towards embracing biodiversity and sponsoring projects near or on their properties.
While weak commodity prices have forced most mining companies to cut costs, Deshnee Naidoo, CEO of Vedanta Zinc International, has been at the forefront of advancing the new Gamsberg project in the Northern Cape.
Site preparation for the start of construction of Vedanta Zinc International’s new Gamsberg zinc mining and processing operation near Aggeneys in South Africa’s Northern Cape province is forging ahead.