Vedanta Hits Record Q1 Mined Zinc Output

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.