Vedanta targets $7.5 bn in earnings in 2 years, deleverage group by $3 bn

In FY 24, Agarwal said Vedanta's iron ore business delivered its highest-ever yearly volume of 5.9 million tonnes. The group also operationalized the Bicholim mine in Goa (3 MTPA capacity), marking the commencement of its first mining operation in the region in nearly five years. At ESL Steel also, Agarwal said, the group achieved its highest ever annual crude steel production of 1,386 kt in FY 24, driven by de-bottlenecking and improved operational efficiency. "The ESL Steel expansion to 3.5 MTPA is on track for completion in the coming year. With this expansion, we will be able to produce overall 4.5 MTPA of steel and pig iron at our facilities," said Agarwal.