Vedanta subsidiary, Western Cluster Limited, to invest $2 billion in Liberia’s mining sector

Mumbai-based mining company Vedanta Group, through its arm Western Cluster Limited (WCL), will invest $2 billion in Liberia’s mining sector.

“We are on track to invest up to $2 billion in WCL and intend to act as a catalyst to unlock Liberia’s economic potential and empower local communities by expanding operations, thereby creating numerous employment opportunities,” the company said in a press release.

WCL is a subsidiary of Vedanta Sesa Goa and a key player in Liberia’s mining sector. With this investment, the company will focus on initiatives related to infrastructure development, health, sanitation, environment and climate change, human capacity development, improving governance and rule of law, as well as women, youth, child empowerment and social protection initiatives in the region.

Commenting on the investment decision, Navin Jaju, CEO of Vedanta Sesa Goa, said: “We are there to ensure the progress and prosperity of Liberia and we will always put Liberia’s interests first.

I especially thank the communities for their support and look forward to continued support.”

According to him, the company began its operations in the region in 2011 and has invested over $300 million in socio-economic development.

The company’s ongoing projects include infrastructure development, community engagement and creation of employment opportunities for local communities, it added in the release.

She added that in the future, the company will also invest in community health, education and sports, infrastructure improvements and other public services.

Sesa Goa Iron Ore, founded in 1954, is engaged in the exploration, mining and processing of iron ore.

The company says it has become one of the leading low-cost iron ore producers in the country.

In the years 1991-1995, it expanded its activities to include the production of pig iron and metallurgical coke.

It has also developed an indigenous and environmentally friendly technology for the production of high-quality metallurgical coke.

Sesa Goa Iron Ore also has a 65 MW power plant that produces clean energy by recovering waste heat from coke ovens and blast furnace gas.

In 2007, it became a majority-owned subsidiary of Vedanta Resources Plc. when Vedanta acquired 51% controlling interest from Mitsui & Co., Ltd. In June 2009, Sesa acquired VS Demopo & Co.