Hindustan Zinc Reports Record Refined Metal Production Amidst Slight Decline in Mined Metal Output
Hindustan Zinc, a subsidiary of the Vedanta Group and a global leader in the Zinc-Lead and Silver market, announced its production figures for the fourth quarter and the fiscal year ending March 31, 2024. Despite a slight year-on-year decrease of 1% in mined metal production for the quarter, the company achieved record highs in refined metal and silver production.
For the fourth quarter, mined metal production saw a marginal decline to 299,000 tonnes from 301,000 tonnes in the same period last year but showed a robust 11% increase sequentially. Conversely, refined metal production experienced a notable boost, reaching 273,000 tonnes, up 1% year-on-year and 6% from the previous quarter. This achievement marks the highest-ever quarterly refined metal output, attributed to improved plant availability.
Refined zinc output rose to 220,000 tonnes, witnessing a 2% increase year-on-year and a significant 9% growth from the prior quarter. However, refined lead production experienced a slight dip, both year-on-year and sequentially. Saleable silver production stood at 6.1 million ounces for the quarter, reflecting a 4% increase year-on-year, despite a 4% decrease from the preceding quarter, closely aligned with the trends in lead metal production.
The fiscal year 2024 saw Hindustan Zinc reaching new heights in production. Mined metal output for the year totaled 1,079,000 tonnes, a 2% increase over the previous year, driven by improved mined metal grades. This growth, coupled with the highest annual production of refined metal, underscores the company’s operational efficiency and its strategic focus on enhancing production capabilities.
Silver production for the year also reached a record high of 24.0 million ounces, up 5% from the previous year, reinforcing Hindustan Zinc’s position as the world's 5th largest silver producer. Refined lead production for the year increased by 3% to 216,000 tonnes, further highlighting the company’s successful operational strategies.
In addition to its production achievements, Hindustan Zinc also reported on its wind power generation, which saw a 14% year-on-year decrease in the fourth quarter to 61 million units. However, this was offset by an 11% sequential increase, reflecting the impact of wind velocity and seasonal variations.
Hindustan Zinc, headquartered in Udaipur, Rajasthan, continues to lead in sustainable and responsible mining practices, evidenced by its top ranking in the S&P Global Corporate Sustainability Assessment amongst Metals & Mining companies in 2023. The company’s commitment to social responsibility and community development remains strong, with significant contributions towards improving lives in its operational regions.
