Hindustan Zinc will invest $1 billion in next five years to make its mining operations environment-friendly.
As part of the plan, the company, with the aim of becoming a net-zero entity by 2050, has already initiated the process of converting all its mining equipment into battery-operated electric vehicles (EVs) in a phased manner.
HZL is a subsidiary of Vedanta Limited, which owns a 64.9% stake in the company, while the government holds a 29.5% stake. HZL currently holds around 80% share in India’s primary zinc market.
In its latest annual report, HZL said it has recently signed an initial pact with global manufacturers like Normet and Epiroc to introduce battery-powered service equipment, front-line fleet and utility vehicles in underground mining.
Moving in the direction to close its thermal power plants with the plan to switch completely from fossil fuel to green grid electricity in a phased manner, the company will be “entering into a long-term captive renewable power development plan with a capacity of 200 MW”.
HZL intends to reduce its dependence on thermal power by scaling up renewable energy to cover 50% of the energy requirement in next three years. The company has 273.5 MW wind power generation capacity now.
“We have initiated biomass utilisation in our captive power plants as substitute to coal and used 16,192 MT during the year (FY22),” it said.
Stating that the company is on track to jack up its mined metal production capacity to 1.5 million tonne per annum (mtpa) from 1.2 mtpa now, HZL is also looking at expanding its footprint in the production of zinc alloys and has set up a subsidiary Hindustan Zinc Alloys (HZAPL) that will put up a 30,000 tonne per annum unit.
“This will pave the way for production of value-added zinc alloy products and enable us to deliver international quality in the domestic market,” it said.