Vedanta Chairman Anil Agarwal Urges Faster Mine Auctions for Iron Ore Growth

Vedanta Chairman Anil Agarwal emphasized on India's vast potential to become the world’s leading producer of iron ore, surpassing Brazil and Australia, provided structural reforms are undertaken to accelerate mine development. In a recent post on social media, Mr Agarwal pointed out that while India currently produces about 290 million tonnes of iron ore annually, this figure needs to rise to over 950 million tonnes to meet the country’s economic and industrial aspirations. Notably, under the National Steel Policy, India aims to increase its steel production capacity to 300 million tonnes by 2030.

Agarwal highlighted that under the present system, tripling production would take nearly 25 years. However, with a strategic rethink of the mine auction process, this goal could be achieved in as little as five years. He emphasized that such a transformation would not only enhance mineral security and support India's steel ambitions but also generate massive employment and make a significant contribution to GDP growth.

His remarks come amid increased momentum in the sector, with fresh proposals being discussed around reserving key mineral blocks for experienced miners in the national interest, and companies like NMDC outlining aggressive capex and production targets for the decade ahead.

Agarwal’s comments align with the broader national agenda to harness India's resource wealth for inclusive growth and global competitiveness.