The Business Bytes
New Delhi, September 10, 2024 (TBB Bureau): Vedanta Aluminium, India’s largest aluminium producer, has appointed David Stone as the Chief Executive Officer of its coal mining operations. In his new role, Stone will oversee all coal mining activities, driving strategic initiatives and leveraging technology and innovation to enhance resource efficiency and sustainability.
David Stone’s extensive experience will be pivotal in optimizing resource utilization at Vedanta Aluminium’s thermal power plants located in Jharsuguda and Lanjigarh, Odisha, and Korba, Chhattisgarh. The company currently operates five coal mines — Jamkhani, Kuraloi, Radhikapur, Ghogharpalli, and Barra (under exploration) — with a combined capacity of approximately 40 million tonnes per annum (MTPA).
With a distinguished career spanning over 30 years, Stone brings a wealth of global experience in managing and operating resource-based businesses. He has held senior leadership positions across various phases of business growth, mergers and acquisitions, project development, and operational management, consistently demonstrating a transformative approach that focuses on creating shareholder value. His career highlights include notable tenures at Anglo American, Xstrata, and Glencore.
“We are thrilled to welcome David to Vedanta Aluminium,” said John Slaven, CEO of Vedanta Aluminium. “His proven track record makes him the ideal leader to drive our mining operations, secure raw material supplies, and reduce production costs. His expertise will be invaluable as we enhance resource efficiency and pursue our ambitious growth plans,” he added.
Commenting on his appointment, David Stone said, “I am honoured to join Vedanta Aluminium and lead its coal mining operations at such a crucial time when the company is on a rapid growth path. I look forward to working with the talented team to implement innovative strategies that will optimize our resources, reduce costs, and contribute to the company’s growth and sustainability objectives.”
Vedanta Aluminium has set forth an ambitious plan for expansion and cost reduction, focusing on backward integration to secure a robust coal supply chain. The new coal mines are expected to significantly lower power generation costs for the company’s thermal power assets. As part of its sustainability commitment, Vedanta Aluminium will not add any further coal-fired capacity to its power portfolio. Instead, the company will maximize digitalization and innovation to achieve the highest levels of efficiency from its existing coal resources.
Vedanta Aluminium, a subsidiary of Vedanta Limited, is India’s largest aluminium producer, contributing over half of the country’s aluminium output with 2.37 million tonnes produced in FY24. Renowned for its value-added aluminium products, the company holds a leadership position in the S&P Global Corporate Sustainability Assessment 2023, ranking first in the world for sustainability practices in the aluminium industry. Through its state-of-the-art smelters, alumina refinery, and power plants, Vedanta Aluminium is committed to positioning aluminium as the ‘Metal of the Future’ for a sustainable and greener tomorrow.
