Vedanta – 5 Years, 3 Coal Mines, 0 Progress

Author: Viceroy Research Published on: September 11, 2025 Published in: Vedanta (NSE:VEDL)

September 11, 2025 – For at least the past 5 years, Vedanta Limited (VEDL) has repeatedly emphasized its intent to reduce dependence on external coal sources. This has a direct impact on the Company’s parent, Vedanta Resources Limited (VRL), whose ability to deleverage and refinance is built on a narrative of operational delivery.

To that end, VEDL is currently developing three coal blocks:

Radhikapur (West) – allocated December 2020
Kuraloi (A North) – allocated November 2020
Ghogharpalli & Dip Extension – allocated March 2023

In theory, this would drastically cut coal procurement costs and increase energy security. In practice, all three projects are still in the pre-operational stage, with permitting delays, land acquisition setbacks, and regulatory missteps eroding timelines and credibility. Radhikapur, Kuraloi, and Ghogharpalli remain stuck in early-stage permitting, years after allocation.

The following analysis was sourced with VEDL’s public filings, Environment Clearances and Meeting Minutes from the Ministry of Coal.

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