The Business Bytes
THEBUSINESSBYTES BUREAU
DAVOS, JANUARY 24, 2025
The global mining sector requires an estimated investment of $1.7 trillion to enable the energy transition, according to Priya Agarwal Hebbar, Chairperson of Hindustan Zinc and Non-Executive Director at Vedanta Limited. Speaking at the World Economic Forum in Davos, she highlighted India’s pivotal role in driving the global shift toward clean energy, citing the country’s untapped resource potential.
“While countries like the US, China, and the Middle East have extensively harnessed their natural resources to fuel their economies, India has explored less than 15% of its reserves. This presents a unique opportunity for India to unlock its resource wealth and contribute significantly to the global energy transition,” she said.
Hebbar lauded the Indian government’s initiatives in opening up the mining sector. “The Indian government is already taking steps in this area by launching the critical minerals mission and auctioning of critical mineral blocks. This has already seen Vedanta emerge as the preferred bidder for six blocks, paving the way for significant progress in this sector,” she stated.
She also underscored Vedanta’s dedication to sustainable mining by adopting advanced technologies to minimize environmental impact. “Our commitment to achieving Net Zero Carbon by 2050 is not just a goal—it’s a responsibility we hold toward future generations. I’m proud that three of our largest companies — Hindustan Zinc, Zinc International, and Cairn Oil & Gas — will reach this milestone within the next five years. By embracing renewable energy and deploying battery-operated vehicles, including fully battery-powered logistics by 2030, we’re proving that sustainability is not just essential for the planet but also the smartest path for long-term business growth. At Vedanta, we are committed to turning ambition into action,” Hebbar emphasized.
She further outlined Vedanta’s innovative strides in developing zinc-based batteries as a sustainable and cost-effective alternative to lithium. “We are already conducting some pilots in this area. Hindustan Zinc, as the world’s largest integrated zinc producer, is collaborating with IITs and global institutions to advance this technology, which could disrupt the energy storage market by offering environmentally friendly solutions,” Hebbar explained.
Concluding her address, Hebbar revealed Vedanta’s ambitious growth plans, including doubling production across multiple verticals. The company aims to increase zinc and silver output to 2 million tons annually, scale aluminium production to 4 million tons, and double oil and gas output through substantial capital investments.
