Silver Shines at Record High Along with Mined & Refined Metal Charting Newer Heights
02.04.2024 - 16:05:55Silver Shines at Record High Along with Mined & Refined Metal Charting Newer Heights. Hindustan Zinc Production Release for the Fourth Quarter and Year ended March 31, 2024
Business Wire India
A. Mined & Refined Metal (Consolidated)
Wind power generation for 4QFY24 was 61 MU, up 11% sequentially & down 14% YoY, depending upon wind velocity & seasonality impact.
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| Silver shines at record high along with Mined & Refined metal charting newer heights |
Hindustan Zinc Limited today announced its production numbers for the fourth quarter and year ended March 31, 2024.
A. Mined & Refined Metal (Consolidated)
| Particulars (In ‘000 tonnes, or as stated’) |
4Q | 3Q | Year | |||||
| FY24 | FY23 | % Change | FY24 | % Change |
FY24 | FY23 | % Change |
|
| Mined Metal | 299 | 301 | (1%) | 271 | 11% | 1079 | 1062 | 2% |
| Saleable Metal | 273 | 269 | 1% | 259 | 6% | 1033 | 1032 | - |
|
- Refined Zinc1
|
220 | 215 | 2% | 203 | 9% | 817 | 821 | - |
|
- Refined Lead
|
53 | 54 | (2%) | 56 | (5%) | 216 | 211 | 3% |
| Silver (in tonnes) | 189 | 182 | 4% | 197 | (4%) | 746 | 714 | 5% |
| Silver (in mn ounces) | 6.1 | 5.9 | 4% | 6.3 | (4%) | 24.0 | 22.9 | 5% |
1. Includes 0.7kt of metal production from Hindustan Zinc Alloys Private Limited (100% subsidiary of HZL) in 4QFY24 and FY24
4QFY24
Highest-ever quarterly refined metal production at 273 kt, up 6% sequentially on account of better plant availability and up 1% YoY. Refined zinc production was at 220 kt, up 9% QoQ & 2% YoY. Refined lead production was at 53 kt, down 2% YoY and 5% QoQ.
Mined metal production at 299 kt, up 11% QoQ, driven by mix of improved mined metal grades and higher ore production across mines.
Saleable silver production was 6.1 moz, up 4% YoY on account of WIP depletion in current quarter & down 4% QoQ in line with lead metal production partly offset by WIP depletion.
FY24
Best-ever mined metal production at 1,079 kt up 2% YoY, driven by improved mined metal grades. Refined metal also achieved its highest annual production.
Silver recorded the highest volume in FY24 in line with management’s operational & financial strategy, at 24.0 moz up 5% YoY. Refined lead production was at 216 kt, up 3% YoY.
B. Wind Power
4QFY24
Highest-ever quarterly refined metal production at 273 kt, up 6% sequentially on account of better plant availability and up 1% YoY. Refined zinc production was at 220 kt, up 9% QoQ & 2% YoY. Refined lead production was at 53 kt, down 2% YoY and 5% QoQ.
Mined metal production at 299 kt, up 11% QoQ, driven by mix of improved mined metal grades and higher ore production across mines.
Saleable silver production was 6.1 moz, up 4% YoY on account of WIP depletion in current quarter & down 4% QoQ in line with lead metal production partly offset by WIP depletion.
FY24
Best-ever mined metal production at 1,079 kt up 2% YoY, driven by improved mined metal grades. Refined metal also achieved its highest annual production.
Silver recorded the highest volume in FY24 in line with management’s operational & financial strategy, at 24.0 moz up 5% YoY. Refined lead production was at 216 kt, up 3% YoY.
B. Wind Power
| Particulars (In million units) |
4Q | 3Q | Year | |||||
| FY24 | FY23 | % Change | FY24 | % Change |
FY24 | FY23 | % Change |
|
| Wind Power | 61 | 71 | (14%) | 55 | 11% | 394 | 395 | - |
Wind power generation for 4QFY24 was 61 MU, up 11% sequentially & down 14% YoY, depending upon wind velocity & seasonality impact.
About Hindustan Zinc
Hindustan Zinc, a Vedanta Group company in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and 5th largest Silver producer. The company governs about ~80% of the growing Zinc market in India with its headquarters at Zinc City, Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.
Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by setting-up wind power plants. The company ranked first in the S&P Global Corporate Sustainability Assessment in 2023 amongst Metals & Mining companies reflecting & reaffirming its constant commitment towards sustainable and responsible mining practices. Hindustan Zinc is a certified Water Positive company and is the only Indian company to be recognized at the S&P Global Platts Metal Award 2022 winning two prestigious awards for ‘Industry Leadership Award – Base, Precious & Specialty Metals’ Award and ‘Corporate Social Responsibility’ Award. Hindustan Zinc is also the only Indian company in Mining sector with validated & approved SBTi targets in alignment with 1.5 °C target.
The company takes pride in having some of the best-in-class people practices and employee-centric initiatives, which have certified Hindustan Zinc as – ‘Great Place to Work 2023’, ‘Company with Great Managers 2022’ by People Business and the ‘People-first HR Excellence Award’. Along with that, Hindustan Zinc has been recognized with the coveted CII HR Excellence Award, leading in HR innovation with a 600+score.
As a socially responsible corporate, Hindustan Zinc has been relentlessly working towards transforming lives of 1.7 million people in 237 villages in the states of Rajasthan and Uttarakhand with a spend base of INR 276.3 crores in FY23 for various community development initiatives and is amongst the Top 10 CSR Companies in India.
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Disclaimer
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future businesses and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “should” or “will”. Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behavior of financial and metals markets including the London Metal Exchange, London Bullion Metal Association, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results and/or business operations to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements and investors should take their own decisions.
Hindustan Zinc, a Vedanta Group company in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and 5th largest Silver producer. The company governs about ~80% of the growing Zinc market in India with its headquarters at Zinc City, Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.
Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by setting-up wind power plants. The company ranked first in the S&P Global Corporate Sustainability Assessment in 2023 amongst Metals & Mining companies reflecting & reaffirming its constant commitment towards sustainable and responsible mining practices. Hindustan Zinc is a certified Water Positive company and is the only Indian company to be recognized at the S&P Global Platts Metal Award 2022 winning two prestigious awards for ‘Industry Leadership Award – Base, Precious & Specialty Metals’ Award and ‘Corporate Social Responsibility’ Award. Hindustan Zinc is also the only Indian company in Mining sector with validated & approved SBTi targets in alignment with 1.5 °C target.
The company takes pride in having some of the best-in-class people practices and employee-centric initiatives, which have certified Hindustan Zinc as – ‘Great Place to Work 2023’, ‘Company with Great Managers 2022’ by People Business and the ‘People-first HR Excellence Award’. Along with that, Hindustan Zinc has been recognized with the coveted CII HR Excellence Award, leading in HR innovation with a 600+score.
As a socially responsible corporate, Hindustan Zinc has been relentlessly working towards transforming lives of 1.7 million people in 237 villages in the states of Rajasthan and Uttarakhand with a spend base of INR 276.3 crores in FY23 for various community development initiatives and is amongst the Top 10 CSR Companies in India.
and follow us on LinkedIn, Twitter, Facebook, and Instagram for more updates.
Disclaimer
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future businesses and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “should” or “will”. Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behavior of financial and metals markets including the London Metal Exchange, London Bullion Metal Association, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results and/or business operations to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements and investors should take their own decisions.
