New Delhi: Anil-Agarwal-led Vedanta has said it is exploring critical mineral assets in states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka and Chhattisgarh.
Critical minerals are essential for many rapidly growing energy-efficient technologies ranging from wind turbines and electricity networks to electric vehicles. Demand for these materials is growing quickly as energy transitions gather pace.
In a statement Vedanta said “the company is building its critical minerals footprint, exploring copper, nickel, cobalt, chromium, vanadium, tungsten and Platinum Grade Elements (PGEs) across states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh, supported by India’s policy push for mineral security”.
Vedanta Group won four blocks in the fourth round of critical mineral blocks auction.
While Vedanta bagged vanadium and graphite mine in Arunachal Pradesh, cobalt, manganese and iron (poly-metal) mine in Karnataka, Hindustan Zinc Ltd (HZL) — won tungsten and associated minerals block in Andhra Pradesh and a tungsten mine in Tamil Nadu.
The company further said that Vedanta is expanding its value-added products for zinc and aluminium products. The company has forayed into zinc alloys with a 30,000 tonnes per annum plant.
For its aluminium capacity expansion, Vedanta’s board had approved about $1.5 billion, including a smelter expansion (for additional aluminium production) and increased value-added product capacity at its flagship aluminium plants.
Vedanta produces four most widely used metals in the world — iron (for steel production), aluminium, copper and zinc.