We are operating in a dynamic industry landscape, marked by continual evolution and emerging trends that present new opportunities for growth and innovation. Vedanta stands out with its agility and a robust, yet flexible business model, that enables implementing industry-defining practices to stay ahead of the competition. This proactive approach ensures our relevance, positioning us for future success and creating sustainable value for all stakeholders.
The mining industry is shifting towards purpose-driven operations, focussing on ethical and sustainable practices to create value for stakeholders and gain their trust. This approach requires a leadership commitment and presents mining companies with an opportunity to play a pivotal role in driving economic development and advancing social progress.
Vedanta believes in mining with a mission and is at the forefront of the industry’s transition towards a purpose-driven future. Our operations go beyond extracting resources, aiming to enrich lives and create a sustainable legacy of positive change for future generations. Guided by the philosophy of giving back, we positively impact over 15 million lives annually through initiatives in childcare, nutrition, women’s empowerment, healthcare and education. Our flagship Nand Ghar project is revolutionising early childhood development in rural India, having transformed nearly 6,000 Anganwadis, and aiming to reach all 14 lakhs nationwide.
As one of India’s leading social investors, we have pledged an additional ₹ 5,000 crore over the next five years aiming to empower 2.5 million families annually with essential skills training and uplift over 100 million women and children.
Mining companies are positioned to lead in sustainability by swiftly implementing comprehensive ESG strategies. Adopting pioneering sustainability practices and undertaking collaborative efforts across the value chain can significantly contribute to climate change mitigation and create a credible transition.
Vedanta is committed to achieving net zero carbon by 2050, with a planned US$ 5 billion investment over the next decade. Leading in energy efficiency, we have signed power delivery agreement of 1,826 MW of Renewable Energy (RE) and we aim to deploy 2.5 GW of RE RTC in our operations by 2030. We are pioneering sustainable logistics within the mining sector, having introduced battery-operated EVs in underground mining to reduce emissions.
Five of our businesses have achieved water positivity, reflecting our dedication to preserving vital resources. To play an active role in biodiversity conservation, we have planted 2 million trees across India towards our pledge of 7 million trees under the World Economic Forum’s initiative.
Our efforts have been recognised. Vedanta was ranked 3rd out of 238 global companies in the S&P Global Corporate Sustainability Assessment, Hindustan Zinc has been recognised as a global leader in sustainability and Vedanta Aluminium as the most sustainable aluminium producer.
A thinning pipeline of mining assets and the escalating challenge of finding deposits pose risks to meet growing metals demand and fill reserves for the future. It is therefore critical for miners to shift focus from acquisitions, and instead increase spending on grassroots exploration to discover new resources sustainably and reverse this trend. They must also harness advanced technologies to expedite the identification and evaluation of targets.
Vedanta recognises the critical role of grassroots exploration in securing a sustainable future for the mining sector. Our mines are rich with reserves that promise productivity for over two decades, yet we persist in exploration to safeguard our long-term prospects. Our commitment is evident in our proactive search for new resources, which has notably enhanced our mines’ Reserves & Resources (R&R). This is exemplified by the impressive expansion of our oil and gas 2P reserves and 2C resources, now totalling 1.4 billion barrels of oil equivalent. Through a focus on grassroots exploration, Vedanta is dedicated to achieving organic growth and reducing our dependence on acquisitions, aligning with our strategic objectives for enduring success.
Operational technologies and analytical tools are revolutionising decision-making in the mining industry, driving a paradigm change in functions like mine planning and maintenance. These technologies enable digital replication of assets, facilitating visualisation and strategic simulation, optimising decisions on investments and processes. This innovative approach, supported by accessible simulation software, maximises value from existing assets.
Vedanta is harnessing the power of digitalisation, integrating advanced technologies to enhance the value of existing assets and drive operational efficiency. This includes Digital Twin which allows us to create a virtual model of physical assets, facilitating simulation and optimisation of operations before real-world implementation. Additionally, we have implemented Advanced Process Control (APC) which uses real-time data and analytics to fine-tune production processes, ensuring maximum efficiency and minimal waste.
We also actively collaborate with established multinationals and vibrant Indian startups to source cutting-edge digital solutions. This helps enhance our operational processes and redefine possibilities.
Our commitment to digitalisation extends to remote mining operations, to enhance the safety of our workforce. By leveraging remote-controlled machinery and operations, we minimise personnel exposure to hazardous conditions, reducing the risk of accidents and ensuring a safer working environment.
Mining and metals companies are strategically partnering with global industry leaders to manage critical business functions like tax compliance, AI-enabled data management, ESG reporting, applications management, supply chain oversight and cybersecurity. Amidst global risks and supply chain disruptions, TPDM enables companies to focus on core operations and have the flexibility to scale activities rapidly.
Our commitment to integrating cutting-edge technology and scaling our projects internationally is reflected in our choice of partners. These partners are not just industry frontrunners; they assume complete end-to-end responsibility for the successful delivery of our projects, ensuring excellence and reliability. Vedanta collaborates with esteemed partners such as Schlumberger, Halliburton, GE, Siemens and Worley to meticulously execute projects with end-to-end accountability. Additionally, for vital support functions such as tax compliance and ESG reporting, we engage with the renowned expertise of the Big Four accounting firms. This strategic alliance ensures that every aspect of our operations is managed with precision and adheres to the highest standards of excellence.
In the pursuit of sustainable growth and quicker access to essential minerals and metals, companies are reevaluating their investment strategies. They are exploring non‑traditional avenues like joint ventures (JVs) and strategic alliances to secure resources vital for sustainability and expedite the launch of new production capacities. They must also adopt innovative thinking regarding investment structures and potential investors, including governments and Original Equipment Manufacturers (OEMs), to facilitate this process and integrate crucial metal supplies into the market more rapidly.
Vedanta is at the forefront of sustainable development, ensuring timely access to vital minerals and metals. We are innovating our investment strategies, embracing JVs and strategic alliances to secure resources essential for a sustainable future. These partnerships are key to fast-tracking new production capacities. We are not confined to conventional investment methods; our approach includes creative investment structures and engaging diverse investors like governments and OEMs. This broadens our resource base and accelerates the integration of crucial supplies into the market. Our dedication to sustainability is unwavering. Vedanta’s investment strategies are designed to support and drive industry-wide sustainable practices, reflecting our commitment to global environmental stewardship.
Amidst skill shortages and ageing workforce, mining and metals companies must adopt a skills-based approach, focussing on worker capabilities rather than specific roles. This strategy enhances agility and flexibility, enabling them to tap into the workforce’s full potential and innovate new work methods. Collaborations with universities to align education with industry needs are also key.
Vedanta embraces a skills-based workforce approach, focussing on capabilities to enhance flexibility and potential. Through robust internal talent building programmes and strategic educational partnerships, we ensure a future- and industry-ready workforce, bolstering operational resilience. A youthful workforce with an average age of 33 years is ensured by adopting a practice of inducting 1,500-2,000 freshers annually from top universities. Our commitment to talent-based recognition fosters a performance-driven culture, while our structured talent management programmes have helped develop a pipeline of 3,000 young and dynamic leaders. Diversity, equity and inclusion are at the forefront of Vedanta’s hiring philosophy supported by industry-leading policies for women, parenthood and transgenders. Our people practices have resulted in over 100 external recognitions, including ‘Kincentric Best Employer, India 2023’ and ‘India’s Best Employers Among NationBuilders by Great Place to Work’.
