Vedanta reports 42% increase in mined metal production at Zinc India

Vedanta Resources said that the mined metal production at its Indian zinc unit increased by 42% in the first half, boosted by higher ore production across all its mines.

The company, which mines zinc in the western Indian state of Rajasthan, said integrated zinc production rose 54% to 386,000 tonnes and integrated silver rose 30% to 8.2 million ounces during the period.

The stock is currently trading at Rs 319.95, down by Rs 3.95 or 1.22% from its previous closing of Rs 323.9 on the BSE.

The scrip opened at Rs 326.15 and has touched a high and low of Rs 326.3 and Rs 318.5 respectively. The stock is currently trading above its 50 DMA.

Mined metal production was at 219,000 tonnes, 14% higher y-o-y, on account of higher volumes from underground mines. Q-o-Q production declined by 6% due to lower ore treatment.

Integrated zinc metal production was 192,000 tonnes, 29% higher y-o-y and flat sequentially. Integrated lead metal production was 38,000 tonnes, 24% higher y-o-y and 9% higher q-o-q. This was in line with the availability of mined metal and smelters.

Integrated silver production was at a record high of 140 tonnes, up 31% y-o-y and 22% q-o-q in line with higher lead production.

Kuldip Kaura, Interim Chief Executive Officer, Vedanta Limited, said, “I feel privileged to take on the helm of a business with Tier 1 assets and I am very excited to be here. During the quarter, our Zinc, Copper India, and Aluminium businesses have delivered a strong production performance. We have also commenced our growth journey on both the exploration and development front in our Oil & Gas business. We are continuing to realize operational efficiencies across our diversified portfolio and to benefit from a supportive market environment.”

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