Runaya to expand its portfolio, eyes mine tailings treatment biz
NEW DELHI : Vedanta Group company Runaya is planning to enter the mine tailings treatment space, as it seeks to expand its portfolio, Naivedya Agarwal, co-founder and CEO, said. Tailings are basically the leftovers or by-product of the mining process, which need to be managed or disposed after the valuable mineral is separated from the ore. Runaya has already ventured into recovery of materials from zinc and started a facility for smelting zinc waste to recover minerals like nickel, cadmium, cobalt, lithium, Agarwal said in an interview.
“Next, we will start targeting mine tailings. In the next year or so, we will start moving into treatment of mine tailings. It’s the residue that’s left behind after mining," he said.
The Mumbai-based company currently deals in green aluminium recovery and diversified metal recovery under its sustainability operations. He predicted that the tailings space would grow, aided by renewed focus of the government and private sector on mining, as Asia’s third-largest economy ramps up its physical infrastructure. Mine tailings management is important, because tailings or the remnants may hinder production in mines and also hamper the environment, Ritabrata Ghosh, vice-president and sector head, corporate sector ratings, Icra, said.
Also, as they cannot be disposed of, alternative ways to store or treat them need to be explored. Minova Runaya Pvt. Ltd (MRPL)’s revenue is expected to nearly quadruple to ₹1,000 crore in the next four years, Agarwal said.
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