Gold Silver Reports — Zinc mining major Hindustan Zinc reported today that its revenues during the quarter were Rs 4,961 Crore, up 79% y-o-y on account of strong zinc & lead prices and higher volume.
The zinc metal cost of production per MT before royalty (COP) during the quarter was at Rs 62,698 ($ 973), higher by 2% y-o-y (6% in dollar terms). The increase was due to substantial increase in coal & commodity prices and lower acid realization, offset by higher volumes. The surge in revenue resulted in a 113 % increase in EBITDA during the quarter to Rs 2,404 Crore. During the quarter, net profit increased by 81 % y-o-y to Rs 1876, noted the company.
Mined metal production of 233 kt during the quarter was achieved, up 84% y-o-y. The increase was primarily on account of higher volumes from all mines, higher zinc grade and depletion of opening ore stock. Integrated zinc metal production during the quarter was at 194 kt, up 91% y-o-y. Integrated saleable lead metal production during the quarter was at 35 kt, up 42% y-o-y. The increase was in line with availability of mined metal, supported by smelter efficiencies. Integrated saleable silver production during the quarter was 115 MT, up 30 % y-o-y due to higher grade and volume from Sindesar Khurd mine. — Neal Bhai Reports