The Managing Director, Mr Ambar Timblo, addressing Fomento Resources.
I want to thank the founders of Fomento, my late grandfather Modu Timblo, and my father Mr Auduth Timblo and their generals who have made this day possible for all of us. Many of them are still beside me to guide me the correct path. Today, I feel proud of their achievements and they have guided us to believe that we shall not be governed by the volume of our business but by the manner in which we do our business. Mr Auduth Timblo made my job easier by giving me a mantra of “Fomento before Self”, to take this company forward.
Fomento story is India’s story. Since its formation in 1957, Fomento has seen two sovereigns pre and post 1961. Ups and downs of Fomento are synonym to India’s growth. Fomento has experienced that spirit of resilience.
I choose this opportunity to write a letter to our company dated 2018 and talk about a certain period in our company. It is not the year of tribulation, which we all went through during 2011-12. It is not the glory days which we celebrated as milestones in tonnage or financial growth. It is the future, which I choose to speak of and I choose to speak of it because, I have seen it.
In this future, the Fomento family has been true to its meaning i.e. “To Develop”. We are to write a new book; a book that will extend the very meaning of the word “Resources”. While we handle iron-ore; we forget that as a bye product, we handle water, energy, agro, waste and so on. We will make ourselves all-encompassing on our strengths. We will ‘Fomento’ all our resources so that Fomento will be synonymous with optimizing all resources vital to our growth as a civilized society. We shall not merely be a mineral company but we shall be a company of resources.
Challenges before us are threefold:
1. Ensure continued supply through secure access to resources;
2. Demonstrate the socio-economic benefits of resources utilisation to most Governments and communities; and
3. Ensure that all resources are consumed safely and in a sustainable manner.
I see a generation who are living the dream, resilient in our philosophy of sustainable development. Building communities in the regions where they operated. When I asked this new generation how they got here, they responded in a single voice -- “We are here because when cynicism and jealousy raised its ugly head, the good people of our company did everything they could to stop it.”
We may not realise it right now, but our future generations will remember 2011 as a year we metamorphosed from the cocoon of a good company into a butterfly of a great one. They will remember it not as a year of tribulation but a year of transformation. Before 2011, we were a good company which forecast our sales figure. During this year, we were a great company, which wrote our destiny by fighting the battle. We shall evolve into something new, stronger and all-encompassing.
This year we realised that it is one thing as a good company to brave the competition, but as a great company, you fight the odds, specifically at a time when several “so-called” good men chose to bury their heads in the sand.
In the past we were a good company, who knew our business models. Today, as a great company we learnt what our true character was. It was this self-awareness that kept us moving forward despite the hits of negativity and the small mindedness that surrounded us, especially of those critics who claimed to work for the greater good but did nothing great, nor good.
The phrase, which specifically comes to mind is – “Bring life to your years and not years to your life.” It means seize the moment while it is here and do something with your life which is not just successful but meaningful. Let us acknowledge here at this time and at this place that this book that stands written should inspire us and the future generations of Fomento to come.
Mr Ambar Timblo, Managing Director, Fomento Resources, addressing the gathering