Vedanta Group announced a comprehensive expansion across its transition metals, oil & gas, and critical minerals portfolio. While nearly 70 per cent of the company’s top-line comes from transition metals, it is also doubling down on critical minerals as well.
Vedanta has secured critical mineral blocks across the country, including rare earth elements, vanadium, graphite and tungsten. The company is also the leading producer of nickel in India. Nickel and cobalt, which are critical for stainless steel, super alloys, lithium-ion batteries, renewable energy systems and electric mobility.
Zinc and Aluminium capacity expansion
Hindustan Zinc, a subsidiary of the company and a leading zinc producer, is planning to double its capacity across zinc, lead and silver. The company is also advancing collaborations in zinc-based battery development. Hindustan Zinc’s portfolio also includes EcoZen carbon footprint zinc. Vedanta is looking to expand its aluminium production capacity from 2.4 MTPA to 3.1 MTPA by FY28.
Vedanta Group, through its global operations, owns Konkola Copper Mines (KCM) in Zambia, one of the richest copper deposits in the world. The Group is also advancing plans for a large-scale copper smelter in Saudi Arabia, further expanding its international critical minerals footprint.
Energy and power portfolio expansion
Vedanta said that it is expanding its natural gas portfolio with a target of raising its gas share to 15 per cent by 2020. Furthermore, the company has renewable energy power delivery agreements of 1.9 GW installed capacity in place and is targeting 2.5 GW of round-the-clock renewable capacity and a 25 per cent reduction in emissions by 2030.
Deshnee Naidoo, CEO, Vedanta Resources, said: “India is the only major economy striving to move from lower-middle income to high income while simultaneously going green. Energy transition is not optional; it is imperative. Vedanta is fully aligned with India’s ambitions. With nearly 70 per cent of our topline coming from transition metals, and with aluminium, zinc, oil and gas, and critical minerals forming the bedrock of our portfolio, we are powering India’s new economy while driving inclusive growth.”