Why has Vedanta bought Nicomet?
Answer
Answer
Answer
Vedanta acquired Goa-based Nicomet, a leading producer of nickel and cobalt in India. Vedanta, now, becomes India’s sole producer of nickel. Nickel is a vital input in stainless steel and batteries for electric vehicles. Cobalt is a key element for lithium-ion batteries for EVs and energy storage systems. Both, Nickel and cobalt are regarded minerals of the future for their renewable content.