Vedanta Aluminium, India's largest aluminium producer, announced the appointment of David Stone as the Chief Executive Officer – Coal Mines. In his new role, David will oversee the entire coal mining operations of the company, spearheading strategy and leveraging technology and innovation to optimise resource efficiency.
{alcircleadd}
David's expertise will be crucial to optimising resource efficiency at Vedanta Aluminium's thermal power plants in Jharsuguda and Lanjigarh in Odisha and Korba in Chhattisgarh. The company also keeps a sharp focus on sustainable mining practices. The company has five operating coal mines with a combined capacity of ~40 million tonnes per annum (MTPA). These include Jamkhani, Kuraloi, Radhikapur, Ghogharpalli, and Barra, which are under exploration.
With a distinguished career spanning over 30 years, David has rich global experience managing and operating resource businesses. He has held leadership positions in roles spanning growth phases, mergers and acquisitions, project development, and the seamless running of operations through to closure. He has consistently demonstrated a transformative ability within these businesses with a dedicated focus on creating shareholder value. His global experience in mining operations includes notable tenures with Anglo-American, Xstrata, and Glencore.
"We are thrilled to welcome David to Vedanta Aluminium. His proven track record makes him the ideal leader to drive our mining operations, ensuring backward integration to secure raw materials and reduce the cost of production for our business. His expertise will be invaluable as we enhance our resource efficiency while keeping an eye on ambitious growth plans," said John Slaven, CEO of Vedanta Aluminium.
On his appointment, David Stone, CEO - Coal Mines, Vedanta Aluminium, said, "I am honoured to join Vedanta Aluminium and lead the coal operations at such a pivotal time when the company is expanding production capacity and on an ambitious growth path. I look forward to working with the talented team to implement innovative strategies that will optimise our resources, reduce costs, and contribute to the company's growth and sustainability objectives."
As part of Vedanta Aluminium's expansion and cost reduction strategy, the company has laid out a comprehensive plan for backward integration, emphasising the importance of a robust coal supply chain. The new coal mines will significantly reduce the cost of power generation by supplying the company's existing thermal power assets. Importantly, Vedanta Aluminium is committed to not adding further coal-fired capacity to its power portfolio. Therefore, maximising digitalisation and innovation to drive the highest efficiencies of the coal resources is essential to meeting Vedanta Aluminium's sustainability goals.
Vedanta Aluminium, a business of Vedanta Limited, is India's largest producer of aluminium, manufacturing more than half of India's aluminium, i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the 'Metal of the Future' for a greener tomorrow.
Responses
