Vedanta to retain coal as base energy source, top executive says
NEW DELH - Indian mining and metals conglomerate Vedanta will continue to rely on coal as its primary energy source for mining operations while aiming to increase the share of renewable sources in its energy mix, a top executive said on Tuesday.
Coal accounts for nearly 70% of Vedanta’s energy mix, Deshnee Naidoo, CEO of Vedanta Resources, said in an interview on the sidelines of FT Live Energy Transition Summit India.
"Coal will be, for us in Vedanta, the baseload contributor," Naidoo said.
The company, however, plans to raise the share of renewable energy in its operations by reducing its dependence on coal-based power to around 50–60% over the next three to four years, Naidoo said.
Vedanta is targeting a shift towards non-fossil sources, including solar, wind and hybrid models, to support its decarbonisation goals.
The company is exploring similar energy transitions in its overseas operations.
In Zambia, where Vedanta faces up to 20 hours of daily power cuts, it plans to build a 300-megawatt power facility - split equally between coal and renewables - to support its mining expansion.
ZAMBIA COPPER UNIT, LITHIUM MINING
Vedanta Resources has restored copper production at its Zambian unit to around 180 000 to 200 000 metric tons, levels last seen in 2018, Naidoo said. The company aims to ramp up output to 300 000 metric tons over the next three years.
"We're absolutely in production," the executive said.
However, the company does not have a timeline for listing the unit, Naidoo said.
Back in India, the company has no plans to venture into lithium mining, Naidoo said, adding that the country is yet to showcase its exploration potential.
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