LONDON—Anil Agarwal began his career as a metals dealer in India nearly 50 years ago. Today, he is a billionaire making one of the biggest bets on the global mining industry’s recovery.
The chairman of India’s Vedanta Resources PLC has used a family trust to invest almost $4.5 billion in Anglo American PLC this year, taking control of about 20% of the U.K. mining giant. Along with his controlling ownership of about $2.1 billion in his own company, the stake vaults Mr. Agarwal into a rarefied group of mining investors.
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