BackHindustan Zinc mined metal production falls 1% YoY to 2.52 lakh tonnes in Q2
Hindustan Zinc's production also dropped 2% sequentially mainly due to lower ore production at Rampura Agucha & Kayad mine partly offset by better overall metal grades, the Vedanta Group said in a regulatory filing.
PremiumHindustan Zinc Ltd, the world’s second largest integrated Zinc producer, on Monday reported its mined metal production at 252,000 tonnes in the second quarter of FY24, down by 1% from 255,000 tonnes in the same period last fiscal.
The production also dropped 2% sequentially mainly due to lower ore production at Rampura Agucha & Kayad mine partly offset by better overall metal grades, the Vedanta Group said in a regulatory filing.
The company’s refined metal production in Q2FY24 declined 2% YoY to 241 kt on account of scheduled maintenance activity.
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Integrated zinc production during the quarter under review was at 185 kt, down 2% YoY and down 12% sequentially. Refined lead production at 57 kt was flat as compared to Q2FY23 and up 12% sequentially on account of pyro plant operations on Lead mode during this quarter, Hindustan Zinc added.
Saleable silver production in the September quarter declined 7% YoY to 5.8 million ounces on account of accumulation of WIP in Q2FY24.
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Wind power generation in the July-September quarter increased 27% to 157 million units from 124 million units, YoY.
Meanwhile, Hindustan Zinc reported its highest-ever first half year mined metal production at 509 kt, marginally up YoY on account of higher ore production largely at Rampura Agucha supported by better overall metal grades.
On September 29, Hindustan Zinc announced that its board has authorised the Committee of Directors (CoD) to evaluate appropriate corporate restructuring exercise.
The company plans to create separate legal entities for undertaking the Zinc & Lead, Silver, and Recycling business of the company, to unlock potential value.
Its parent company and billionaire Anil Agarwal-led metals, mining, and energy conglomerate Vedanta Ltd also unveiled a complete overhaul of its structure, involving the demerger of its businesses into six independent companies, with a plan to list five of them by FY25.
Read here: Vedanta to demerge biz into six firms
On Friday, Hindustan Zinc share price ended 3.31% higher at ₹308.80 apiece on the BSE.
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