Hindustan Zinc Limited reported its highest-ever quarterly refined metal production at 273 kt, a 6% increase from the previous quarter, attributing the performance to better plant availability.
Refined zinc production stood at 220 kt, up 9% quarter-on-quarter and 2% year-on-year, while refined lead production was 53 kt, a slight decrease of 2% compared to the same quarter in the previous year and 5% lower than the third quarter of FY24.
Mined metal production in Q4 FY24 reached 299 kt, an impressive 11% increase from the fourth quarter of FY23, driven by a combination of improved mined metal grades and higher ore production across mines.
Mined metal output refers to the quantity of metal contained in the ore extracted from the mines and represents the metal content in the mined ore before any processing or refining takes place. In contrast, refined metal output refers to the quantity of pure metal produced after the mined ore has undergone various processing and refining stages to remove impurities and extract the desired metal.
Hindustan Zinc Limited is a leading integrated zinc producer and a subsidiary of Vedanta Group. The company is headquartered at Udaipur, Rajasthan, India, and is primarily engaged in the exploration, extraction, and processing of zinc, lead, and silver deposits.
Saleable silver production for the quarter was 6.1 million ounce, a 4% increase year-on-year, primarily due to the depletion of work-in-progress inventory in the current quarter. However, silver output was down 4% quarter-on-quarter, in line with lead metal production, partially offset by WIP depletion.
For the full year FY24, Hindustan Zinc achieved its best-ever mined metal production at 1,079 kt, a 2% increase from the previous year, driven by improved mined metal grades. Refined metal production also reached its highest annual level.
Silver production recorded the highest volume in FY24, in line with the company's operational and financial strategy, at 24.0 moz, a 5% increase from FY23. Refined lead production for the year stood at 216 kt, a 3% increase compared to the previous year, while refined zinc production remained largely unchanged at 817 kt.
Hindustan Zinc is the second-largest zinc producer globally and the fifth-largest silver producer, with its operations contributing to approximately 80% of India's growing zinc market.
Its origin dates back to 1966 when it was incorporated as a public sector undertaking. In 2002, Vedanta Resources acquired a majority stake in Hindustan Zinc through the government's disinvestment program. Since then, the company has grown significantly, expanding its mining and smelting operations and investing in advanced technologies and sustainable practices.
Hindustan Zinc operates several zinc-lead mines and smelting complexes across Rajasthan, including the Rampura Agucha Mine, which is one of the largest zinc mines in the world. The company is self-sufficient in power generation, with captive thermal power plants and investments in renewable energy sources such as wind power.