Digging For A Greener Future: Revolutionising The Mining Industry Through Sustainable Practices
In today's rapidly evolving world, the mining industry has recognised the urgent need to prioritise sustainability and pave the way for a greener future. As a significant contributor to India's economic growth, the mining sector understands its responsibility to mitigate environmental impacts and actively works towards establishing a more sustainable future. By wholeheartedly embracing sustainable practices, the industry aligns itself with India's vision of reducing carbon emissions, promoting clean energy sources, and ensuring environmental preservation.
The crucial aspects of achieving sustainability goals in the mining industry are the deployment of sustainable power solutions by either setting up RE facilities or by entering in RE power purchasing agreements, the effective reclamation of mining sites, and optimum utilisation of water resources. Transition to electromobility and utilization of zero-emission electric off-road machines including electric HEMM’s which are now entering into the markets, water pumps used for dewatering pit water can significantly reduce carbon emissions and pave the way for carbon neutral mining operations. By emphasising the importance of implementing these solutions across the industry, we can not only make a significant positive impact on the environment but also set an industry benchmark for other industrial sectors as well. Another crucial aspect is the reclamation of land and water resources, which can be addressed through systematic mine closure plans and through water conservation and recycling measures, respectively.
To guide sustainable practices, the mining industry must embrace the concept of environmental, social, and governance (ESG) initiatives in a highly structured manner. There is a dire need that each of the players in the mining industry invest maximum in adopting the most scientific and systematic mining practices, which can create maximum value for all the stakeholders without any compromise on the very important aspect of intergenerational equity.
India’s vision to become a developed nation by 2047 and to emerge as a $5 trillion economy in the near future will be strongly guided by one of its important pillars, the natural resource sector. To become a global economic powerhouse, it is pertinent to take highly futuristic steps and be ready to overcome the grave natural resource crunch that one can envisage in the near future, considering the present scenario of resource depletion. In order to create a win-win situation for all, it is of utmost importance that the entire natural resource industry of India and the government collaborate and take major strides towards developing a sustainable growth model for the mining sector.
A major boost in terms of robust policy support from the government and concerned authorities will accelerate the transition towards green operations. The energy transition and electromobility are still not financially viable in most business scenarios, especially for already established industrial setups. In such cases, special subsidies, product premiums, tax relaxation, and other measures by the government will pave the way for a transition towards "green operations.
Another important aspect of this transformational journey is to adopt an inclusive approach and develop strong confidence among the corporates, their senior management, workforce, and stakeholders about the realistic roadmap for upscaling and optimising operations while shifting towards net zero emissions and water-positive operations.
Undertaking initiatives such as afforestation and systematic mine reclamation projects can play a vital role in developing green belt areas and restoring the ecological balance in mining regions. By utilising this approach, the industry can accelerate the growth of indigenous flora, creating a thriving ecosystem that promotes biodiversity and environmental rejuvenation. Such systematic mine reclamation and biodiversity conservation efforts by companies like Vedanta’s Sesa Goa at mining sites in Goa are turning out to be industry trendsetters and can be replicated across the industry.
Water conservation and achieving carbon neutrality are crucial pillars of sustainable mining practices. Implementing initiatives that focus on efficient water usage, such as water recycling systems and rainwater harvesting, helps minimise the impact on local water resources.
The mining industry's commitment to sustainable practices is transforming the sector into a powerful catalyst for positive change with utmost focus on triple bottom line that incorporates three important pillars that is Social, Environmental and economic. By deploying innovative technologies, setting a clear roadmap for green mining, and implementing robust policies and regulations to support this transition and investment in sustainability, we as a nation can definitely achieve our sustainability goals well before the set targets and set the benchmark for the entire globe to follow.
