22 Feb 2019
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Anil Agarwal keen to bring company that owns De Beers to India
Anil Agarwal, is keen to bring South Africa-based Anglo American to India for prospecting of coal, iron ore, copper and other minerals.
By: Diamond World News Service
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Jan 25 2019 11:46AM
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Reference: 16956  

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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 USD 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. 

"We would be talking to them how we can involve them more (in India). They have huge branding and technology, be it diamonds, platinum, copper, iron ore and manganese, and coal," he said. "I have no doubt that they will come at some point of time to make an investment in India." 

He, however, hastened to add that there was no concrete investment proposal at this point of time. 

Agarwal, whose Vedanta Group produces oil, gas, zinc, aluminum and copper within India, wants Anglo to prospect for coal in the country."Anglo is already in India mostly because of the De Beers diamonds they sell. But I want to involve them more," said Agarwal, who is part of a business delegation accompanying South African President Cyril Ramaphosa to India. 
 
Anglo is the world's third largest exporter of metallurgical coal, operating in Australia, Colombia, and South Africa. 

"If Anglo comes (in India) and coal mining is opened up (to foreign companies), it will be great," he said. 

India, he said, has tremendous potential to prospect diamond, gold, platinum, copper and iron ore and is a big market no one can ignore. 

"This is the market nobody can ignore. They will be successful here," he said. 

Agarwal, 63, made it made it clear that was "very comfortable" with the current management of Anglo and is not seeking a say in the board. "They are doing extremely good. I support them fully," he said. "We have a good consultancy with them. We are happy for now." 


 

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