Vedanta's Anil Agarwal bats for 'green metals' amid steep rise of gold prices: 'Investors rush for...'

Vedanta chairperson Anil Agarwal has urged investors to consider lesser popular "green metals" for their functional value at a time when gold prices have been on an almost steady and steep rise. Taking to X, the industrialist said that metals like copper, aluminum, zinc, and silver are fundamental to new-age technologies and support a climate-friendly world.

"You must have seen that the price of gold is at an all-time high. This is a cycle. From my long experience, I have seen investors rush for gold in times of geopolitical and global economic uncertainty," Agarwal said. "But the really amazing, less noticed story is actually emerging in metals like copper, aluminum, zinc, and silver, all of which are critical minerals. They are fundamental to new age technologies whether those related to energy transition (solar PV cells, batteries, EVs) or in technologies related to artificial intelligence (advanced semiconductors)."

The Vedanta boss added that not only can these metals be recycled, using the latest technology, but they can also be mined without damaging the environment. Moreover, the demand for these "green metals" is growing at "double digits". "Much faster than supply," he said. "India, as the world's fastest-growing economy which is expanding its manufacturing capabilities needs to ensure that we are self-sufficient in all these critical minerals. More exploration and simpler clearances are the key."

Agarwal had also stressed on India's "double-digit growth" and its "huge consumption activity" on May 1, on the sidelines of the company's 'Nand Ghar', a social initiative under the philanthropic arm of the mining conglomerate.

"Growth in India is tremendous...it's a double-digit growth and there is a huge consumption activity. People are interested in investing in India and post the elections we would see recognition to entrepreneurship, which is very important," Agarwal said while announcing Vedanta's plans to invest $20 billion in India across all its businesses over the next four years.