Vedanta acquires nickel and cobalt producer Nicomet

Mining major Vedanta Ltd has acquired Nicomet, a nickel and cobalt producer based in Goa, making Vedanta the sole producer of nickel in India. Nickel is a vital input in the manufacturing of stainless steel and batteries for electric vehicles (EVs). Cobalt is a key element for the lithium-ion battery for EVs and energy storage systems.