Vedanta logs record aluminium, copper, silver production in Q2

Iron ore output hit in Goa, Karnataka

Mumbai, October 10

Vedanta, a diversified metal and energy company, has recorded highest ever quarterly production of aluminium, copper and silver in the September quarter, though its iron ore production in Goa and Karnataka suffered.

The company’s refined zinc-lead metal production in the September quarter was up 27 per cent at 2.30 lakh tonnes (lt) and refined silver output was up 31 per cent at 140 tonnes, said Vedanta in a statement on Tuesday.

Mined metal production was up 14 per cent at 2.19 lt on account of higher volumes from underground mines though it declined six per cent compared to June quarter due to lower ore treatment.

Integrated zinc and lead metal production were up 29 per cent and 24 per cent at 1.92 lt and 38,000 tonnes, respectively.

Vedanta’s subsidiary Hindustan Zinc’s Rampura Agucha underground mine development in Rajasthan is progressing well and is on track for commissioning in the December quarter of next fiscal. Shaft project at Sindesar Khurd is also on track for commissioning in Q2 FY-19, it said.

Aluminium production increased 36 per cent to 4.01 lt with the ramp up of production at the Jharsuguda and Balco smelters.

The demand-supply imbalance in domestic coal supplies resulted in higher prices and caused disruptions in availability coal for the captive power plants during the quarter. Alumina production was down 8 per cent at 2.69 lt.

Average gross oil and gas production was down 8 per cent at 180,955 barrels of oil equivalent per day (boepd) on account of natural decline in producing reservoirs.

Drilling of 15 infill wells at the Mangala field has commenced and the first well was brought online at the end of September.

Aishwariya Barmer Hill Phase-I production has commenced during the quarter. Liquid handling upgrade and the field development plan for 45 additional infill wells at Mangala are under advanced stages of discussion with our JV partner for approval, it said.

In Goa, iron ore production was down at 4 lt due to the monsoon season and sold a lower quantity of ore at 1 lt due to low prices, it said

In Karnataka, the company is close to achieving its annual mining cap with production of 9 lt. Sales were lower 30 per cent at 6 lt.

The company has inventory of around 3 mt at Goa and 1.2 mt in Karnataka.

Pig iron production decreased 29 per cent to 1.37 lt due to a local contractors’ strike.

This strike has been resolved in mid-September and production will pick up in the coming quarters.

Published on October 10, 2017


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