Vedanta Hits Record Q1 Mined Zinc Output

MT Newswires Live07-06

Vedanta's (NSE:VEDL, BOM:500295) zinc business in India recorded its highest-ever first-quarter mined metal production of 268,000 tons in the quarter ended June 30, from 265 tons a year ago, according to a filing to the Indian stock exchanges on Friday.

The company's total mined metal production of zinc internationally slipped 14% year-on-year to 48,000 tons from 57,000 tons as Deep's mine at Black Mountain in South Africa is nearing the end of its life, the data showed.

Ferro Alloys Corporation, a unit of Vedanta, saw a 41% jump in order production in fiscal Q1 to 153,000 tons from 108,000 tons a year ago, driven by the restart of Kalarangiatta Mines in India and stockpiling ahead of the monsoon season.

Ferro Chrome production stood at 29,000 tons, up 4% year-on-year, lifted by higher mining output and an increase in high-grade ore.

Meanwhile, the company's copper sales in India also hit an eight-year high at 53,000 tons, a 3% year-on-year increase. However, its international copper rod sales plunged 51% year-on-year to 9,000 tons due to the closure of the Strait of Hormuz.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment