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Mining Weekly reported that Vedanta Resources plc (LSE:VED) is in an advantageous position as the owner of the zinc assets that Anglo American plc (LSE:AAL) sold off four years ago.
Mining Weekly reported that Vedanta Resources plc (LSE:VED) is in an advantageous position as the owner of the zinc assets that Anglo American plc (LSE:AAL) sold off four years ago.
As quoted in the market news:
But China is no longer supplying as it did in the past and there have been anticipatory price improvements over the last eight months on the expectation that zinc supply is leaving the market.
The only other London Metal Exchange commodity that is approaching zinc’s current price firmness is aluminium, also because of market pessimism engulfing it for so long.
Vedanta bought Anglo-Zinc for $1 338-million in May 2010 and has been investing in underground and near-pit development since 2012.