David will head the coal mining operations of the company to boost backward integration
Bhubaneswar, September 10, 2024: 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 optimize resource efficiency.
David’s expertise will be crucial to optimizing resource efficiency at Vedanta Aluminium’s thermal power plants in Jharsuguda and Lanjigarh in Odisha and Korba in Chhattisgarh, while also keeping a sharp focus on sustainable mining practices.The company has 5 operating coal mines with a combined capacity of 40 million tonnes per annum (MTPA).These include Jamkhani, Kuraloi, Radhikapur, Ghogharpalli, and Barra – which is under exploration.
With a distinguished career spanning more than 30 years, David’s has a rich global experience in 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 AngloAmerican, Xstrata, and Glencore.
“We are thrilled to welcome Davidto Vedanta Aluminium. His proven track recordmakes him the ideal leader to drive our mining operations, ensuring backward integration to secure raw material and reduce 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,”saidJohn Slaven, CEO, Vedanta Aluminium.
On his appointment, David Stone, CEO–Coal Mines, Vedanta Aluminium, said,”I am honored to join Vedanta Aluminium and lead the coal operations at such a pivotal time when the company is expanding production capacity and is on an ambitious growth path. I look forward to working with the talented team to implement innovative strategies that will optimize our resources, reduce costs, and contribute to the company’s growth and sustainability objectives.”
As part of Vedanta Aluminium’s strategy for expansion and cost reduction, the company has laid out a comprehensive plan for backward integration, emphasizing 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 any further coal-fired capacity to its power portfolio. Therefore, maximizing digitalization and innovation to drive the highest levels of efficiencies of the coal resources is essential to meet sustainability goals for Vedanta Aluminium.
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.
