Company report
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.
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)
Indicator-by-indicator results
Economic Development
A.01 National and Regional Socio-Economic Development Planning
A.02 Procurement
A.03 Capacity Building
A.04 Enhancing the National Skills Base
Selected Mine sites results
Mine sites individually assessed but not included
in the overall company score
| Mine Site Name | Local 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 Mountain | 2 | 1 | 0 | 2 | 2 | 0 | 1.17 |
| Codli | 0 | 0 | 0 | 0 | 0 | 0 | 0.00 |
| Nchanga | 0 | 0 | 0 | 0 | 0 | 0 | 0.00 |
| Skorpion | 1 | 1 | 1 | 0 | 2 | 1 | 1.00 |
| Zawar | 0 | 0 | 0 | 0 | 0 | 0 | 0.00 |
List of all mine sites
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types |
|---|---|---|---|---|---|
| Black Mountain | Aggeneys | South Africa | 74 | Zinc, Lead, Copper, Silver | Underground |
| Bodai Daldali | India | 51 | Bauxite | Open-pit | |
| Codli | Goa Mine | India | 100 | Iron Ore | Open-pit |
| Kayad | India | 64.9 | Zinc, Lead | Underground | |
| Konkola | Chililabombwe | Zambia | 79.4 | Copper, Cobalt | Underground |
| Mainpat | India | 51 | Bauxite | Open-pit | |
| Maton | Matoon | India | 64.9 | Phosphate Rock | Open-pit |
| Nampundwe | Zambia | 79.4 | Pyrite | Underground | |
| Narrain | Karnataka Mine | India | 100 | Iron Ore | Open-pit |
| Nchanga | Chingola | Zambia | 79.4 | Copper, Cobalt | Tailings Leach |
| Rajpura Dariba | India | 64.9 | Zinc, Lead | Underground | |
| Rampur Agucha | India | 64.9 | Zinc, Lead | Open-pit, Underground | |
| Sindesar Khur | India | 64.9 | Zinc, Lead | Underground | |
| Skorpion | Namibia | 100 | Zinc | Open-pit | |
| Sonshi | Goa Mine | India | 100 | Iron Ore | Open-pit |
| Zawar | India | 64.9 | Zinc, Lead | Underground |
Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types | Year of closure |
|---|---|---|---|---|---|---|
| Lisheen | Ireland | 100 | Zinc | Underground | 2016 | |
| Mount Lyell | Australia | 100 | Copper, Gold, Silver | Underground | 2014 |
Main Shareholders
| As of: 09/02/2018 | Shares (%) |
|---|---|
| Agarwal (Anil Kumar) | 68.79 |
| Falk (Viktor) | 3.06 |
| Capital World Investors | 1.22 |
| Standard Life Investments Ltd. | 1.18 |
| Aberdeen Asset Investments Limited | 1.09 |
| The Vanguard Group, Inc. | 0.76 |
| Mellon Capital Management Corporation | 0.64 |
| Legal & General Investment Management Ltd. | 0.59 |
| Lazard Asset Management Limited | 0.48 |
| 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 Management | 0.18 |
| UBS Asset Management (Switzerland) | 0.17 |
Known Subsidiaries
| As of: 31/03/2017 | Country |
|---|---|
| Amica Guesthouse (Proprietary) Limited | Namibia |
| Bharat Aluminium Company Limited (“BALCO”) | India |
| Black Mountain Mining (Proprietary) Limited | South Africa |
| Bloom Fountain Limited | Mauritius |
| Cairn Energy Discovery Limited | UK |
| Cairn Energy Gujarat Block 1 Limited | UK |
| Cairn Energy Hydrocarbons Limited | UK |
| Cairn Energy India Pty Limited | Australia |
| Cairn Exploration (No. 2) Limited | UK |
| Cairn India Holdings Limited | Jersey |
| Cairn India Limited (“Cairn”) | India |
| Cairn Lanka Private Limited | Sri Lanka |
| Cairn South Africa (Pty) Limited | South Africa |
| CIG Mauritius Holding Private Limited | Mauritius |
| CIG Mauritius Private Limited | Mauritius |
Known Tax Jurisdictions
| Australia | Curaçao | Cyprus | India | Ireland | Jersey |
| Liberia | Mauritius | Namibia | Netherlands | South Africa | Sri Lanka |
| UAE | UK | USA | Zambia |
Recent involvements in Investor/State investment disputes (since 2014)
| Case Date | Case number | Case description | Status |
|---|---|---|---|
| 2016 | UNCITRAL | Vedanta 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.