Hindustan Zinc reports 2% decline in mined metal production for Q3

Vedanta Group company Hindustan Zinc Ltd on Thursday (January 2) reported a 2% year-on-year decline in mined metal production for the third quarter of the current fiscal, totalling 265 kilotonnes (kt). The decrease was primarily due to lower ore production at the Agucha and SK mines, though this was partly offset by improved mined metal grades and mill recovery.

However, the company’s mined metal output rose 3% compared to the previous quarter, driven by higher grades and increased production at Agucha and Zawar mines. Refined metal production for the quarter stood at 259 kt, flat compared to the same period last year and down by 1% sequentially, mainly due to a planned maintenance shutdown.

Refined zinc production was stable year-on-year at 204 kt, though it increased 3% from the previous quarter. Conversely, lead production declined by 2% year-on-year and saw a 14% drop from the previous quarter, attributed to extended pyro plant operations on lead mode during base periods.

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Saleable silver production totalled 5.2 million ounces, aligning with the lead output and impacted by lower silver input from the SK mine due to a change in the mining sequence. For the nine-month period ending December 31, 2024, Hindustan Zinc achieved record mined metal production of 784 kt, driven by better grades and mill recovery.

Refined metal production also reached an all-time high of 783 kt, up 3% compared to the previous year, with refined zinc production at 613 kt and lead production at 170 kt, reflecting increases of 3% and 4%, respectively. Saleable silver production for the nine months was 16.4 million ounces, down 8% year-on-year due to lower silver input from the SK mine.

Shares of Hindustan Zinc Ltd ended at ₹452.85, up by ₹8.60, or 1.94% on the BSE.

Also Read: Hindustan Zinc Q2 Results: Net profit rises 35% to ₹2,327 crore, margin expands 380 bps