LSE: VED
Headquarters:
UK
Sector:
Diversified
Government Ownership:
No State Ownership
Pre-tax Revenues (in BUSD):
11.52 (31/03/2017)
Number of employees:
not reported
Number of workers
(employees + contract workers):
70,000 (2017)
Company-reported mining worker fatalities:
  • 2015 |
    Workers: 12
  • 2016 |
    Employees: 3Contractors: 4
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

Vedanta Resources achieves one of the ten strongest results for Economic Development, where its best performance relates to skills development. Overall, Vedanta Resources’s results are strengthened by the fact that it has formalised commitments in place on a wide range of issues, including business ethics, bribery and corruption, transparency of mineral revenues, occupational health and safety, and the management of environmental impacts. However, its level of performance on commitments is not always matched by its performance on actions. For example, while Vedanta Resources shows evidence of assigning senior management responsibilities and providing resources to help operationalise its commitment on human rights, no evidence was found of the company systematically carrying out human rights due diligence or reporting on its performance in managing human rights issues.

Likewise, while Vedanta Resources shows similar measures to help operationalise its commitment on occupational health and safety, no evidence was found of the company taking steps to address the specific health and safety needs of women workers. The company also shows no evidence of systematic tracking of its performance in managing socio-economic impacts in communities near its operations. The lack of evidence in these and other areas limits Vedanta Resources’s overall results.

Economic Development

0.259 / 1.000

Business Conduct

0.549 / 1.000

Lifecycle Management

0.253 / 1.000

Community Wellbeing

0.152 / 1.000

Working Conditions

0.371 / 1.000

Environmental Responsibility

0.323 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Black Mountain2102201.17
Codli0000000.00
Nchanga0000000.00
Skorpion1110211.00
Zawar0000000.00

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
Black MountainAggeneysSouth Africa74Zinc, Lead, Copper, SilverUnderground
Bodai DaldaliIndia51BauxiteOpen-pit
CodliGoa MineIndia100Iron OreOpen-pit
KayadIndia64.9Zinc, LeadUnderground
KonkolaChililabombweZambia79.4Copper, CobaltUnderground
MainpatIndia51BauxiteOpen-pit
MatonMatoonIndia64.9Phosphate RockOpen-pit
NampundweZambia79.4PyriteUnderground
NarrainKarnataka MineIndia100Iron OreOpen-pit
NchangaChingolaZambia79.4Copper, CobaltTailings Leach
Rajpura DaribaIndia64.9Zinc, LeadUnderground
Rampur AguchaIndia64.9Zinc, LeadOpen-pit, Underground
Sindesar KhurIndia64.9Zinc, LeadUnderground
SkorpionNamibia100ZincOpen-pit
SonshiGoa MineIndia100Iron OreOpen-pit
ZawarIndia64.9Zinc, LeadUnderground

Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)

Mine Site NameAliasesCountryCompany's share (%)ProductsMining typesYear of closure
LisheenIreland100ZincUnderground2016
Mount LyellAustralia100Copper, Gold, SilverUnderground2014

Main Shareholders

As of: 09/02/2018Shares (%)
Agarwal (Anil Kumar)68.79
Falk (Viktor)3.06
Capital World Investors1.22
Standard Life Investments Ltd.1.18
Aberdeen Asset Investments Limited1.09
The Vanguard Group, Inc.0.76
Mellon Capital Management Corporation0.64
Legal & General Investment Management Ltd.0.59
Lazard Asset Management Limited0.48
BlackRock Institutional Trust Company, N.A.0.37
Dimensional Fund Advisors, L.P.0.3
BlackRock Investment Management (UK) Ltd.0.29
Lazard Asset Management, L.L.C.0.23
Natixis Asset Management0.18
UBS Asset Management (Switzerland)0.17

Known Subsidiaries

As of: 31/03/2017Country
Amica Guesthouse (Proprietary) LimitedNamibia
Bharat Aluminium Company Limited (“BALCO”)India
Black Mountain Mining (Proprietary) LimitedSouth Africa
Bloom Fountain LimitedMauritius
Cairn Energy Discovery LimitedUK
Cairn Energy Gujarat Block 1 LimitedUK
Cairn Energy Hydrocarbons LimitedUK
Cairn Energy India Pty LimitedAustralia
Cairn Exploration (No. 2) LimitedUK
Cairn India Holdings LimitedJersey
Cairn India Limited (“Cairn”)India
Cairn Lanka Private LimitedSri Lanka
Cairn South Africa (Pty) LimitedSouth Africa
CIG Mauritius Holding Private LimitedMauritius
CIG Mauritius Private LimitedMauritius

Known Tax Jurisdictions

AustraliaCuraçaoCyprusIndiaIrelandJersey
LiberiaMauritiusNamibiaNetherlandsSouth AfricaSri Lanka
UAEUKUSAZambia

Recent involvements in Investor/State investment disputes (since 2014)

Case DateCase numberCase descriptionStatus
2016UNCITRALVedanta Resources plc vs. India (Tax on Oil & Gas activities)Pending

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.

This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.