Global Mining Sector Needs $1.7tr Investment for Energy Transition: Hebbar
At the World Economic Forum (WEF) in Davos, Priya Agarwal Hebbar, Chairperson of Hindustan Zinc Limited, addressed key issues surrounding the global energy transition. She spoke about the importance of critical minerals, future of climate action strategies, embedding sustainability across the value chain, prioritizing women’s health and driving India’s workforce revolution. She was amongst the few Indian women entrepreneurs representing Vedanta and Hindustan Zinc at the esteemed forum where industry stalwarts, political leaders, academicians and scholars create dialogues with the mission to improve the state of the world.
Speaking at the World Economic Forum, she said, “For the energy transition to happen successfully, the World Bank has said we need $1.7 trillion in mining investment. We see an opportunity in India. India is in a sweet spot where it can thrive in this sector."
She added that while countries like the US, China, and the Middle East have grown their economies on natural resources, India has the opportunity now with less than 15% of its natural resources’ reserves being tapped. She further added that this presents a significant opportunity for India to harness its resources better equipped with right technology & innovation to make mining minimally invasive and play a crucial role in the shift toward clean energy.
She commended the Indian government’s proactive measures in revitalizing the mining sector. She highlighted the government’s key initiatives such as the launch of the critical minerals mission and the auctioning of critical mineral blocks, which have created new opportunities for sustainable growth and development. “These efforts are already bearing fruit, with both Vedanta and Hindustan Zinc emerging as the preferred bidders for various critical mineral blocks across the country, paving the way for transformative progress in the sector,” she said.
She underlined Vedanta and Hindustan Zinc’s dedication to sustainable mining by adopting cutting-edge technologies to minimize environmental impact. “Vedanta is committed to achieving Net-Zero by 2050 along with subsidiaries, such as Hindustan Zinc which is well on track to achieving its net-zero targets by 2050 or sooner than that.”
She further added that, “Hindustan Zinc has been ranked number 1 globally as the world’s most sustainable metals & mining company for the second consecutive year by the S&P Global Corporate Sustainability Assessment. By embracing renewable energy and deploying battery-operated vehicles, including fully battery-powered logistics value chain by 2030, Vedanta and Hindustan Zinc are proving that sustainability is the smartest path for long-term business growth.
She also outlined Hindustan Zinc’s innovative strides in developing zinc-based batteries as a sustainable and cost-effective alternative to lithium. “We are already conducting some pilots in this area. Hindustan Zinc, as the world’s largest integrated zinc producer and third largest silver producer, is collaborating with IITs and global institutions to advance this technology, which could disrupt the energy storage market by offering environmentally friendly solutions which are safe, stable and cheap compared to the lithium ones,” Priya Agarwal Hebbar explained.
At the World Economic Forum, she outlined Hindustan Zinc’s ambitious plans to significantly expand its operations. This includes doubling its zinc production capacity, expanding its silver production while driving innovation and sustainability across all verticals. “Hindustan Zinc is committed to turning aspirations into actionable outcomes, ensuring we remain a leader in the global metals and sustainability space,” she affirmed.
Hindustan Zinc Limited (BSE: 500188 and NSE: HINDZINC), a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024, reflecting its operational excellence, innovation, and leading ESG practices. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. As an energy transition metals company, Hindustan Zinc is pivotal in providing critical metals essential for a sustainable future.
