Global Mining Sector Needs $1.7 Trillion Investment for Energy Transition: Priya Agarwal Hebbar

Udaipur, 26th January 2025: At the World Economic Forum in Davos, Priya Agarwal Hebbar, Chairperson of Hindustan Zinc Limited, emphasized the urgent need for a $1.7 trillion investment in the global mining sector to enable a successful transition to clean energy. Addressing an esteemed audience of global leaders, industry experts, and academicians, she highlighted India’s pivotal role in this transformation, owing to its vast untapped resource potential and innovative strategies.

India’s Strategic Role in the Energy Transition

Speaking at the forum, Hebbar remarked, “For the energy transition to happen successfully, the World Bank estimates a requirement of $1.7 trillion in mining investments. India is uniquely positioned to capitalize on this opportunity, with less than 15% of its natural resource reserves tapped. With the right technology and innovation, India can lead this sector while ensuring minimal environmental impact.”

She noted that while nations like the US, China, and the Middle East have historically built their economies on natural resources, India now stands at the threshold of a transformative phase in mining, driven by proactive government policies and sustainable practices.

Government Initiatives to Revitalize Mining

Hebbar applauded the Indian government’s initiatives to boost the mining sector, including the launch of the Critical Minerals Mission and the auctioning of critical mineral blocks. These efforts have enabled companies like Vedanta and Hindustan Zinc to secure critical mineral blocks, paving the way for innovation and sustainable development.

“These measures are already yielding results. Vedanta and Hindustan Zinc have emerged as preferred bidders for critical mineral projects, positioning them as leaders in India’s mining revolution,” she stated.

Sustainability at the Core of Hindustan Zinc’s Vision

Highlighting Hindustan Zinc’s leadership in sustainable mining, Hebbar reiterated the company’s commitment to achieving Net-Zero emissions by 2050. Hindustan Zinc, a subsidiary of Vedanta, has already earned global recognition for its efforts:

• Ranked #1 globally as the most sustainable metals and mining company by S&P Global Corporate Sustainability Assessment for two consecutive years.
• Pioneering the use of renewable energy and battery-operated vehicles, with a fully battery-powered logistics chain planned by 2030.

“Vedanta and Hindustan Zinc are setting benchmarks in sustainability by embracing renewable energy and investing in cutting-edge technologies to minimize environmental impact. Sustainability isn’t just ethical—it’s the smartest path for long-term growth,” Hebbar said confidently.

Innovative Zinc-Based Batteries: A Game-Changer

Hebbar unveiled Hindustan Zinc’s groundbreaking research into zinc-based batteries as a cost-effective and environmentally friendly alternative to lithium-ion technology. Collaborating with premier institutes like IITs and global organizations, Hindustan Zinc aims to revolutionize the energy storage market with zinc-based solutions.

“We’re conducting pilots to develop zinc-based batteries that are safer, more stable, and cost-effective compared to lithium ones. As the world’s largest integrated zinc producer, Hindustan Zinc is committed to offering sustainable energy storage solutions,” Hebbar explained.

Ambitious Expansion Plans

Hebbar also announced Hindustan Zinc’s plans to double zinc production capacity and expand silver output. These efforts align with the company’s broader strategy to drive innovation and sustainability across its operations.

“Our ambition is to turn aspirations into actionable outcomes. Hindustan Zinc will continue leading the global metals and sustainability space while contributing to the energy transition,” Hebbar affirmed.