Vedanta Aluminium on Tuesday announced the appointment of David Stone as the Chief Executive Officer – Coal Mines. In his new role, the company said, David Stone 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,” it said. The company has 5 operating coal mines with a combined capacity of around 40 million tonnes per annum (MTPA). These include Jamkhani, Kuraloi, Radhikapur, Ghogharpalli, and Barra – which is under exploration.
David Stone has a professional experience of more than 30 years and 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. His global experience in mining operations includes 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.”
Vedanta Aluminium has laid out a comprehensive plan for backward integration, emphasizing the importance of a robust coal supply chain, as part of its strategy for expansion and cost reduction. The new coal mines will significantly reduce the cost of power generation by supplying the company’s existing thermal power assets.
Vedanta Aluminium, a business of Vedanta Limited, is manufacturing more than half of India’s aluminium, i.e., 2.37 million tonnes in FY24.
From: financialexpress
Financial News
