Anil Agarwal Chairman Vedanta Group: India has Full Potential to Overtake Brazil and China in Iron Ore Production
New Delhi, 15 April 2025 – Anil Agarwal, Chairman, Vedanta Group, today said that India can first overtake Brazil and then China to become the world’s second largest producer of iron ore.
He highlighted India’s growth potential in the global iron ore market and said, “It is difficult to imagine life without iron and steel, which is made from iron. Our homes, our vehicles, our gadgets, all require iron and steel. Today, India is the 4th largest producer of iron ore in the world, with a total output of 270 million tonnes per year. Only Australia, Brazil & China produce more.”
Explaining how India can surpass Brazil and China in iron ore production, he said, “Given our huge reserves, we can produce 700 million tonnes per year and become the 2nd largest after Australia, this is very much possible. The benefits this will bring to Bharat in terms of economic growth, jobs and revenue to government are massive.”
Fuelled by the vision of Atmanirbhar Bharat, India continues on its upward trend in mineral production. Iron ore accounts for 70 per cent of the total MCDR mineral production by value, with output reaching 274 million metric tonnes (MMT) in FY 2023-24. According to the Ministry of Mines, iron ore production has maintained its growth momentum in FY 2024-25, growing by 4.4 per cent from 252 MMT in FY 2023-24 to 263 MMT. India has a rich reserve of iron ore estimated to be 33 billion tonnes, which could be a key driver for the nation’s global mining ambitions.
The growth in mining is set to enable development across several Indian states that have been lagging behind in terms of economic growth. In this context, the Chairman said, “It will also lead to rapid development of states rich in iron ore like Chhattisgarh, Jharkhand and Odisha. At present, their per capita incomes are below the India average but, with their huge potential below the ground, can easily have double the India average. Let us be visionary and think big.”
https://x.com/AnilAgarwal_Ved/status/1911751786244821126?t=4FWCfKLZm2_fJKBXQsSGYQ&s=08
While growth in production will bring rapid development in iron ore rich states by driving economic progress and industrial expansion, in states where mining was halted, such as Goa, the resumption of mining will also significantly boost the local economy and create jobs.
The vision of Atmanirbhar Bharat has powered India’s remarkable growth and development. This continuous progress is positioning India as a standout player in a dynamic and uncertain global environment. Under this larger vision and framework, India has the potential to become one of the leading and sustainable global producers of important minerals.
About Vedanta Limited
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and the environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model Anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies company have been featured in Dow Jones Sustainability Index 2020, and was conferred Frost & Sullivan Sustainability Awards 2020, CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National Award 2020 for Excellence in Water Management, CII Digital Transformation Award 2020, ICSI National Award 2020 for excellence in Corporate Governance, People First HR Excellence Award 2020, ‘Company with Great Managers 2020’ by People Business and certified as a Great Place to Work 2021. Vedanta’s flagship Nand Ghar Project was identified as the best CSR project by the Government of Rajasthan. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange. For more information, please visit www.vedantalimited.com
About Sesa Goa Iron Ore Business
Sesa Goa Iron Ore Business of Vedanta Limited is engaged in exploration, mining, and processing of iron ore. The company was founded in 1954 as Scambi Economici SA Goa and acquired by Vedanta. Since then, it has grown to be one among the top low-cost producers of iron ore in the country. During 1991-1995, it diversified into the manufacture of pig iron and metallurgical coke. It has also developed indigenous and environment-friendly technology for producing high quality metallurgical coke. Sesa Goa Iron Ore also has two waste heat recovery power plants of total capacity 60 MW that produces clean power by using the waste heat recovery from its coke ovens and blast furnace gas. Sesa Goa Iron Ore operations in India are in Goa & Karnataka.
For further information please contact:
Col (Retd.) Anshuman Vivek
Deputy Head,
Corporate Communications, Sesa Goa
Anshuman.Vivek@vedanta.co.in I +91-8923285818
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