Operational Review
Our Iron Ore business, led by Sesa Goa, is one of India’s largest private iron ore exporters. In FY 2024-25, we achieved a 12% Y-o-Y increase in saleable production, reaching 6.2 million DMT. Our pig iron output also reached 817 kt. Noteworthy operational improvements include the commissioning of a 1.2 MTPA debottlenecking project, a new ESP for the sinter plant, a PCI mill, and a coke drying system, all aimed at enhancing production rates and reducing costs. Additionally, WCL secured an EPC contract for a 3 MTPA concentrator and power plant, alongside completing feasibility studies for infrastructure development.
At Karnataka, we closed the year with saleable ore production of 5.3 million dmt and sales of 4.8 million dmt.
At VAB, we achieved the second highest ever annual production of pig iron, with 817 kt, reflecting a 2% decline compared to the previous year.
At Bicholim mines, we successfully conducted the first-ever dispatch of iron ore during the monsoon season. Over the year, we produced 0.9 million dmt of saleable iron ore and sold 0.6 million dmt, marking a significant milestone for the operation.
Ductile Iron Pipe Plant (VAB): The Ductile Iron Pipe plant is being set up at the Pig Iron Division II location of Value Added Business. Civil works related to the plant building have been completed, and delivery of structural materials for building erection and cranes has started. Equipment foundation work and equipment manufacturing are currently in progress.
Dedicated Corridor (IOG): The dedicated corridor project has commenced to develop a dedicated route for the movement of mine trucks, thereby increasing the capacity for ore transportation. The project is scheduled for completion by FY 2025-26.
Dry Screening Plant (IOK): Plant installation, along with mechanical completion, has been completed. Trials are currently in progress.
Wet Beneficiation Plant (IOK): A 4 MTPA capacity Wet Beneficiation Plant is proposed. Partner locking is expected by May 2025, and the project is set to be completed within 20 months.
Revenue for the year was ₹ 6,086 crore, 33% down Y-o-Y, mainly due to lower volume at Karnataka and lower export sales. EBITDA for the year was ₹ 1,006 crore, 40% down Y-o-Y, particularly due to fall in iron ore index and lower production of volume.
Value Added Business (VAB) has improved air pollution control with a new Electrostatic Precipitator (ESP) at the Sinter Plant and received environmental clearance to expand production capacity. VAB also aids wildlife conservation by providing a rescue van to the state forest department.
At Iron Ore Karnataka, 38 check dams, 7 settling ponds, and 6 gully plugs were constructed, and 6,000m³ of desilting was completed to enhance rainwater harvesting. A hydrogeology study was also conducted for improved water management.
Sesa Goa, targeting net-zero emissions by 2050, has adopted EV wheel loaders and installed a 100 KW solar power plant. VAB’s EV fast charging station has benefited over 1,000 users, while over 20 kl of biodiesel replaced HSD across units.
We are committed to achieving Zero Harm, aiming for no fatalities in our Iron Ore Business. Our focus on improving CRM verifications, work permit systems, and Contractor HSE Management remains unchanged. In FY 2024-25, our Lost Time Injury Frequency Rate (LTIFR) was 0.84, slightly up from 0.83 in FY 2023-24. We are targeting 100% compliance with Infra-matrices over the next three years.
To further enhance safety, we have integrated digital and engineering controls, such as fatigue monitoring, AI surveillance, and slope stability radars. We also conduct monthly safety programmes for over 1,200 employees to raise awareness on Vedanta Safety Standards. Our health initiatives include a mental health program, ambulance upgrades, and increased IH studies and PME tests. Additionally, we’ve rolled out safety governance structures, safety scorecards, and online safety assessments to improve communication and compliance.
