Hindustan Zinc Limited Reports Operating Results for the Third Quarter and Nine Months Ended December 31, 2018; Provides Production Guidance for the Fiscal 2019
January 21, 2019 at 05:41 am EST
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Hindustan Zinc Limited reported operating results for the third quarter and nine months ended December 31, 2018. For the quarter, mined metal production was up 6% sequentially and up 3% year on year to 247,000 MT. Integrated metal production was 242,000 MT. Integrated zinc production was 188,000 MT. Integrated lead production increased by 10% sequentially and 18% year on year to 54,000 MT. Integrated silver production was 178 MT.
For the nine months, mined metal production was 691,000 MT, 31% higher from a year ago on account of higher ore production and grades, even as the closure of open-cast operations caused total mined metal production to remain flat year on year. Integrated metal production was 667,000 MT, down 5% year on year. Integrated lead and silver production were at 145,000 MT and 488 MT, higher by 23% year on year and 26% year on year respectively. Integrated zinc production at 522,000 MT was lower year on year by 11% due to higher lead ratio in ore.
The company has provided production guidance for the fiscal 2019. For the fiscal 2019, mined metal production is expected to be slightly higher than last year, in line with the annual guidance provided earlier. Refined zinc-lead production will be in sync with mined metal production and slightly short of last year's production. Silver production to be in the range of 650 to 700 MT is reiterated. Zinc COP before royalty is projected to be in the range of USD 950 to 975 per MT in second half of fiscal year 2019, as guided earlier.
Hindustan Zinc Limited is an India-based company, which is engaged in exploring, extracting, processing minerals, and manufacturing metals and alloys. The Company produces zinc, lead, silver, commercial power and alloys. Its segments include Zinc, Lead, Silver & others and Wind energy. Its operations include five zinc-lead mines, four zinc smelters, one lead smelter, one zinc-lead smelter, eight sulfuric acid plants, one silver refinery plant, six captive thermal power plants and four captive solar plants in the state of Rajasthan. In addition, the Company also has a rock-phosphate mine in Matoon, near Udaipur in Rajasthan and zinc, lead, silver processing and refining facilities in the state of Uttarakhand. The Company also has wind power plants in the states of Rajasthan, Gujarat, Karnataka, Tamil Nadu and Maharashtra and solar power plants in the state of Rajasthan.
Hindustan Zinc Limited Reports Operating Results for the Third Quarter and Nine Months Ended December 31, 2018; Provides Production Guidance for the Fiscal 2019