Hindustan Zinc Q3 metal production increases to 247000 tons and production capacity will reach 1.2 million tons by 2020

Hindustan Zinc, a Vedanta group, announced on Monday that net profit for the third quarter of 2018 was Rs22.11m, down 3.7 per cent from Rs22.98m in the same period in 2017. Total revenue in the first three quarters of 2018 was 609 million rupees, compared with 6203 million rupees in the same period in 2017, a slight decrease of 1.8 percent.

As a result of the strong growth in underground ore production and the improvement in ore grade, total mineral and metal production rose 6 per cent in the third quarter from a month earlier, up 3 per cent from a year earlier to 247000 tons. Combined metal production (zinc and lead) was 242000 tons in the third quarter, up 14 per cent from a month earlier and down 1 per cent from a year earlier. Comprehensive zinc production was 188000 tons, up 16 per cent from the previous month and down 6 per cent from the same period last year. Due to the increase in mineral production and the increase in the output of the Chanderiya high temperature metallurgical smelter, the comprehensive lead production increased by 10 per cent from the previous month, an increase of 18 per cent to 54000 tons compared with the same period last year. Combined silver production reached a record 178 tons, up 3 per cent from a month earlier and 34 per cent from a year earlier.

Prospect:

As underground mines continue to grow, production of minerals and metals in fiscal 19 is likely to be slightly higher than last year, in line with previous annual indicators, the company said. Refined zinc and lead production will keep pace with mineral metal production and slightly lower than last year's production. The silver production target for fiscal year 2019 is 650 to 700 tons. The announced mining project is under way and is expected to have a production capacity of 1.2 million tons of minerals and metals each year by fiscal year 2020.

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