Mining giant Vedanta Resources today said the production of mined metal at its Indian zinc unit increased by 84 per cent to 2,33,000 tonnes in the first quarter of the ongoing fiscal.
The refined zinc-lead metal production at its Indian zinc unit during the quarter was at 2,28,000 tonnes, registering an increase of 80 per cent on Y-o-Y basis.
At Zinc India, the “mined metal production (was) at 233 kt, up 84 per cent Y-o-Y,” Vedanta Resources Plc said in a statement.
“Refined silver production (was) at 3.7 mn ounces, up 30 per cent Y-o-Y,” the statement said.
“Our zinc and oil and gas businesses have delivered a strong quarter. Vedanta is a world leader in zinc, and zinc prices have strengthened since the quarter end on continued global supply deficits,” Tom Albanese, Chief Executive Officer, Vedanta Resources plc, said.
“The Gamsberg project is also developing well and remains on course to commence production in mid-CY2018. We are working to optimise costs at Copper-Zambiawhile our continued ramp-up in the Aluminium business has helped us exit the quarter on a strong production run rate of 1.4 mtpa. We are realising the true benefits of Vedanta’s diversified portfolio,” Albanese said.
With regard to Indian copper unit, the company said its production was lower due to planned maintenance shutdown and smelter operating at high efficiency following the restart.
The company further said that there was lower sales from Goa due to low pricing environment and “working on beneficiation and grade improvements.”
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