David will head the coal
mining operations of the company to boost backward integration
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 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 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,” said John 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.
