Vedanta, Now World’s Largest Zinc Producer

After buying $1.3 worth of assets from Anglo American, Vedanta Resources plc (LSE: VED) is now the world’s biggest zinc producer.  Among the mines Anglo has sold Vedanta are Namibia, South Africa and the Lisheen project in Ireland.  These resources will give vedanta 11% of the global zinc market.

Shanduka Resources is quoted saying:

“Overall, we are happy with today’s result. Lonmin is a vastly improved business from that of two years ago. It is on-track to meet its 2010 target of 700,000 ounces of platinum sales, and unit costs are being kept under control. As always, it remains at the mercy of the platinum group metal prices, but the outlook for pricing is positive, in our view.”

Click here to access the entire news