Anglo American will sell its portfolio of zinc assets to Vedanta Resources for $1.3bn.

The assets include the Skorpion mine in Namibia, the Lisheen mine in Ireland and a 74% interest in Black Mountain Mining in South Africa.

In a statement, Anglo American said of the total consideration $698m relates to the Skorpion mine, $308m relates to the Lisheen mine and $332m relates to Black Mountain Mining.

Vedanta said the deal would help it to gain 11% of the already fragmented global zinc market.

After the completion of the deal Vedanta will emerge as the world’s top zinc producer.