LAUSANNE, March 29 (Reuters) - The chairman of Indian miner Vedanta Resources has no plans to buy assets in South Africa from Anglo American, or to push for a board seat after announcing a plan to acquire a 13 percent stake in the mining giant.
“I believe in the management, I believe in the company (Anglo)... and felt that if I have a resource that I should make an investment in it,” Vedanta chairman Anil Agarwal told the FT Commodities Summit in Switzerland on Wednesday.
He added that he’d be happy to help Anglo American move into India if they wished “at some point in time to expand their business.”
Earlier this month, Agarwal said he would buy a 2 billion pound ($2.5 billion) stake in Anglo American. (Reporting by Julia Payne and Gus Trompiz, editing by Louise Heavens)