World needs $1.7 trillion of Investment in Mining for energy transition: Priya Agarwal Hebbar, HZL

World will need an estimated investment of US $1.7 trillion in its mining sector for energy transition, Priya Agarwal Hebbar, Chairperson of Hindustan Zinc and Non-Executive Director Vedanta Limited has said. Speaking at the World Economic Forum in Davos, Priya also stressed on India’s unique potential to drive global energy transition. She added that while countries like US, China, and the Middle East have extensively harnessed their natural resources to fuel their economies, India has explored less than 15% of its reserves. This presents a unique opportunity for India to unlock its resource wealth and contribute significantly to the global shift toward clean energy.

Priya acknowledged the Indian government’s proactive measures in opening up the mining sector and said, “The Indian government is already taking steps in this area by launching the critical minerals mission and auctioning of critical mineral blocks. This has already seen Vedanta emerge as the preferred bidder for six blocks, paving the way for significant progress in this sector”. She also emphasized Vedanta’s commitment to sustainable mining by leveraging advanced technologies to ensure that mining operations have minimal or zero impact on the environment.

“Our commitment to achieving Net Zero Carbon by 2050 is not just a goal—it’s a responsibility we hold toward future generations. I’m proud that three of our largest companies—Hindustan Zinc, Zinc International, and Cairn Oil & Gas—will reach this milestone within the next five years. By embracing renewable energy and deploying battery-operated vehicles, including fully battery-powered logistics by 2030, we’re proving that sustainability is not just essential for the planet but also the smartest path for long-term business growth. At Vedanta, we are committed to turning ambition into action”, she said.

Detailing Vedanta’s plans and innovations in developing zinc-based batteries as a sustainable and cost-effective alternative to lithium, Ms. Priya Aggarwal Hebbar said, “We are already conducting some pilots in this area. Hindustan Zinc, as the world’s largest integrated zinc producer, is collaborating with IITs and global institutions to advance this technology, which could disrupt the energy storage market by offering environmentally friendly solutions”.

She concluded by outlining Vedanta’s ambitious plans to double production across multiple verticals, including increasing zinc and silver output to 2 million tons annually, aluminium production to 4 million tons, and doubling oil and gas output through substantial capital investments. End