Vedanta acquires Nicomet

Vedanta has acquired Nicomet. With this acquisition, Vedanta has become India’s sole producer of Nickel. The move is a significant step in Vedanta’s mission towards making India self-reliant in key critical minerals.

Nickel, a strategic mineral, is a vital input in the manufacturing of stainless steel and batteries for electric vehicles (EVs). Similarly, Cobalt is a key element for the lithium-ion battery for EVs, Energy Storage Systems and has other uses like superalloy for steelmaking. Both Nickel and Cobalt are regarded as the minerals of the future which will play a leading role in the transition to renewable and cleaner energy.

With Vedanta’s foray into the production of these critical minerals, India will be in a better position to manufacture EV batteries, and support the production of high-quality steel products, a key building block for Infrastructure growth.

Nicomet has emerged as a certified producer of high-quality battery-grade Nickel Sulphate Crystals used for manufacturing of batteries of electric vehicles globally. At present, Nicomet’s plant has a capacity to produce 7.5 KTPA Nickel & Cobalt.

Nicomet marks a major strategic acquisition for Vedanta and is expected to strengthen its portfolio of Iron and Steel business.

Previous articleSunrise Project secures Major Project Status award
Next articleCanada Nickel update on its discussion with investors
Stainless Steel World Publisher
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.