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Mining giant Vedanta Ltd. has announced that it will invest ₹12,500 crore to expand its production of aluminium, zinc, and alloys like ferrochrome and steel. The move is aimed to support India’s rapidly growing EV industry.
What they do: Vedanta Ltd. is a global natural resources company involved in the exploration, extraction and processing of critical minerals and raw materials necessary for energy transition.
The deets: The investment comprises expansion of the company’s aluminium smelter capacity, value-added aluminium products, a plant for zinc production and ferochrome capacity augmentation. These projects will provide steady supply for India’s EV and battery storage requirements.
Why this matters: minerals like cobalt, nickel, lithium-ion, zinc etc. are heavily used to manufacture electric vehicles and its batteries. But India relies on countries like Chile, China, and Australia to procure these raw materials. With this investment however, Vedanta wants to cut down its foreign dependence and become a key supplier of these minerals to bolster India's EV mission.
