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Vedanta posts record zinc, aluminium output in Q4

Vedanta posts record zinc, aluminium output in Q4
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First Published: Fri, Apr 08 2011. 12 44 PM IST
Updated: Fri, Apr 08 2011. 12 44 PM IST
London: Indian-focused miner Vedanta Plc saw record aluminium production in its fourth quarter and a 29% jump in refined zinc from its Indian operations, helping it take advantage of rising metal prices.
Output of refined zinc, the group’s most profitable product, was 194,000 tonnes in the fourth quarter ended March 2011 from its Indian mines, with production at its Skorpion Zinc mine in Namibia totalling 37,000 tonnes in the three months.
Fourth-quarter production of saleable iron ore, its second most profitable product, was hit by a ban on shipments from the Karnataka. Production fell 21% to 5.5 million tonnes.
The Supreme Court earlier this week lifted the ban on iron ore shipments from the Karnataka.
Aluminium output in the fourth quarter rose 7% to 170,000 tonnes.
Vedanta is still awaiting government approval for the long-delayed purchase of Cairn Energy’s Cairn India unit. The government had been expected to reach a decision on Wednesday, but instead referred the matter to a panel for further review.
The two companies have extended the date by which all conditions may be completed or waived to 20 May.
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First Published: Fri, Apr 08 2011. 12 44 PM IST
More Topics: Vedanta | Zinc | Aluminium | Q4 | Metal prices |