Indian miner Vedanta Resources has announced that its majority shareholder Volcan Investments Ltd intends to make an additional investment in UK-based mining giant Anglo American by buying £1.25 billion to £1.5 billion worth of shares in addition to the £2 billion investment made in March this year.
Vedanta Resources confirmed that the proposed investment is being made by Volcan alone, and that it is not participating in this investment.
Anil Agarwal, owner of both Volcan Investments and Vedanta Resources, stated that they are encouraged by the performance of Anglo American since their first investment earlier this year, adding that Anglo American has made good progress in its operational and financial performance and remains an attractive investment for their family trust.