Vedanta's Anil Agarwal Hails For 'Green Metals' Amid Sharp Rise In Gold Prices

In a post on X, the industrialist highlighted the essential role of metals such as copper, aluminium, zinc, and silver in facilitating emerging technologies and fostering an eco-friendly approach

Chairman of Vedanta, Anil Agarwal ( Image Source :Getty )

Vedanta's Chairman, Anil Agarwal, has requested investors to explore less mainstream "green metals" due to their inherent functional significance, particularly amidst the ongoing escalation in gold prices. In a post on the social media platform X (formerly Twitter), the industrialist highlighted the essential role of metals such as copper, aluminium, zinc, and silver in facilitating emerging technologies and fostering an environmentally sustainable global landscape.

“Aap sab ne dekha hoga, the price of gold is at an all time high. Yeh cycle hai.  (You must have seen 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 at times of geopolitical and global economic uncertainty,” he wrote on Monday.

He further added: “But the really amazing, less noticed story is actually emerging in metals like copper, aluminium, zinc and silver, all of which are critical minerals. While gold is known for its intrinsic value, these critical minerals are almost like gold for their functional value. 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).”

Aap sab ne dekha hoga, the price of gold is at an all time high. Yeh cycle hai. From my long experience I have seen investors rush for gold at times of geopolitical and global economic uncertainty.

But the really amazing, less noticed story is actually emerging in metals like… pic.twitter.com/o1DLdyKVs6

— Anil Agarwal (@AnilAgarwal_Ved) May 6, 2024

He further elaborated on how these metals are green metals that support a climate-friendly world. “What also stands out is that these are green metals. They support a climate-friendly world. They are recyclable. And using the latest technology, they can be mined without damaging the environment. Demand for all of these is growing at double digits, much faster than supply,” he wrote.

He also stressed that India is a growing economy that is focusing on expanding its manufacturing capabilities. “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,” he concluded his post.