Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7.
This decision was bolstered by the steps already taken by the government, including the appointment of the country's first Green Economy and Environment Minister Collins Nzovu in September, and is aligned to the further initiatives that have been presented, it said in a statement.
Vedanta pointed out that demand for electricity in the country has been increasing over the last few years, while generation capacity remains stagnant, resulting in “instability in the more rural populations, including the local communities around Konkola Copper Mines (KCM)”.
Vedanta said it was “committed to aid the government in its vision, including supporting new industry initiatives, as well as providing energy security for KCM and its surrounding population”.
While Vedanta was an operator of KCM, one of its primary undertakings was to replace the old smelter with one that was significantly cleaner and more efficient. The current smelter was the cleanest in the country, and Vedanta said it would work with the government to use green energy at KCM, ensuring it was running and mining sustainably, benefiting both the environment and bringing stability to the local communities.
In its wider operations, Vedanta is planning to be a leader in environmental, social and corporate governance within the global natural resources sector, having already committed $5-billion over the next ten years to accelerate the transition to net zero.
As part of this, the miner has repurposed its mission statement to “Transforming for Good”, with the aim of making a meaningful difference to society at large.
Group CEO and chief safety officer Sunil Duggal expressed confidence in the positive progress that had been made thus far by the Zambian government in its aim to improve the country’s power capacity through the use of green energy.
“Vedanta looks forward to working closely with the newly appointed Green Economy and Environment Minister to further progress this initiative and transition Zambia into more sustainable sources of energy, encompassing its already present capabilities for hydropower,” he said.