Vedanta Group firm Hindustan Zinc Ltd (HZL) on Tuesday (January 2) said its mined metal production has reached 271 kilo tonnes (KT), indicating a 7% year-on-year growth and an 8% quarter-on-quarter increase.
This growth was attributed to a mix of improved mined metal grades and higher ore production at the Rampura Agucha and Sindesar Khurd mines, according to a stock exchange filing.
Releasing its production figures for the third quarter and nine months ending December 31, 2023, the company reported its highest-ever nine months of mined metal and silver production for the fiscal year 2023-24.
The mined metal production stood at 780 KT, marking a commendable 2% year-on-year growth, primarily propelled by improved mined metal grades.
Emphasising their operational and financial strategy, the pyro plant operated on lead mode for an extended period compared to the base period, resulting in refined lead production reaching 163 KT, up 4% year-on-year (YoY). The saleable silver production also saw a notable increase, reaching 17.9 million ounces (moz), reflecting a 5% year-on-year growth.
Refined metal production for the quarter stood at 259 KT, reflecting a sequential increase of 7% due to enhanced plant availability and a marginal 1% YoY increase. Refined lead production saw a remarkable surge of 21% YoY, reaching 56 KT, driven by pyro operations on lead mode to maximise silver production.
Saleable silver production for the third quarter reached 6.3 moz, showcasing a robust 22% YoY increase in line with lead metal production. It also demonstrated a commendable 9% quarter-on-quarter (QoQ) growth, aligning with lead metal production and higher work-in-progress accumulation during the base period.
The company's wind power generation for the third quarter of FY24 was 55 MU, up 11% YoY and down 65% QoQ, depending upon wind velocity and seasonality impact, the company added.
Shares of Hindustan Zinc Ltd ended at ₹317.25, down by ₹1.15, or 0.36%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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