Vedanta Resources is a FTSE 100, London Stock Exchange listed, globally diversified natural resources major with interests in Zinc, Lead, Silver, Copper, Iron Ore, Aluminium, Power and Oil & Gas.
Our exploration portfolio from all the four continents that we operate in, follows a history of consistent geological discovery. With a business model of growth, constant value creation and improved operations, the company's vision is focussed towards building the wealth of our shareholders and sustainably engaging the community we operate in.
Accountability being a core characteristic of Vedanta's work philosophy, our long term business approach adopts best practices towards fulfilling vital customer needs in a safe and responsible manner.
Our people are dedicated towards continuously reviewing strategic plans to keep in line with the variables of opportunity, innovation and focus. Vedanta's success as a diversified resources major is due to a constant awareness of the impact we make on the lives of those working with us. Be they our people and their families or our business partners, we give back to the community that constantly nurtures us through economic and other developments in our host countries.
At the broadest level, we do this by directly employing over 30,000 people, and contracting over 69,000 more, with the majority drawn from the surrounding communities of each of our operations* This is in addition to our contribution to the countries we operate in through the timely payments of our tax obligations. We contributed US$ 4.7 billion to our host governments through direct and indirect taxes and royalties. In addition we have spent over US$ 10.9 billion in operating costs, over US$ 500 million in wages and benefits and some US$ 38 million in community investments.
We work towards minimizing the effect of our operations on the environment and to maximise the benefits for the local communities, while respecting their laws and customs. To ensure a long-term future of the Group, we aim to grow our reserves and resources at a faster rate than we deplete them through constant exploration and acquisitions.
We intend to deliver growth and long-term value while upholding sustainable development through our diversified portfolio of large, long-life and low-cost assets.
We are keenly focused on extending our resource base and growing our assets organically, by identifying and investing in projects that help expand our capacity and increase production volumes.
Selective and Value Accretive M&A
In addition to organic growth, we also actively explore opportunities to acquire large, proven assets where we can add significant value with our strategic capabilities.
We aim to optimise our cost and operational performance through a culture of continuous improvement to achieve and maintain a competitive cost position in all our businesses.
Reserves and Resources
We are constantly working towards developing means to add to our Reserves and Resources at a faster rate than we deplete them through exploration.
Consolidation and simplification of our Group structure remains a strategic objective with a view to building long-term value through the optimisation of Group resources.
We have specific management systems in place to run our operations to minimise the risk of harm to people and the environment throughout the lifecycle of our projects.
Building Strong Relationships
We aim to forge strong partnerships by engaging with our key stakeholders, including shareholders and lenders, suppliers and contractors, customers, employees, governments, communities and civil society through active interactions and involvement.
Adding and Sharing Value
We aim to create and implement policies and processes that will contribute to the well-being and development of our employees and deliver sustainable benefits to the local communities.