After stunning the world by becoming the single largest shareholder in one of the world′s best-known mining groups, mining mogul Anil Agarwal is keen to bring South Africa-based Anglo American to India for prospecting of coal, iron ore, copper and other minerals.
Agarwal recently spent $2.4 billion to buy close to 22 per cent in Anglo, which owns 85 per cent of De Beers, the world′s leading diamond company.
Agarwal, whose Vedanta Group produces oil, gas, zinc, aluminium and copper within India, wants Anglo to prospect for coal in the country. Anglo is the world′s third largest exporter of metallurgical coal, operating in Australia, Colombia, and South Africa.
He said, “If Anglo comes (in India) and coal mining is opened up (to foreign companies), it will be great.”
India, he said, has tremendous potential to prospect diamond, gold, platinum, copper and iron ore and is a big market no one can ignore.
His firm Vedanta Resources is the largest investor in South Africa and is committing to invest another $1.6 billion in the African nation in production of zinc. At Gamsberg, Vedanta Zinc International has already invested $400 million (Rs 3,000 crore) since it bought the zinc mining project from Anglo American in 2011. The company now plans to make an additional investment to build a greenfield smelter and refinery.