Vedanta Group’s subsidiary, Hindustan Zinc, is aiming to finalize pre-feasibility studies by mid-September or later for doubling its annual production to two million tons (mt) from its eight mines in India. The expansion includes increasing zinc production to 1.6 mt, silver to 2,000 tos, and lead to approximately 0.4 mt.
Plans are also in place to double the capacity of existing concentrators and smelters. Arun Misra, CEO of Hindustan Zinc, mentioned that two global consultants from Australia have been appointed. The eight mines are split into two groups of four, with two consulting teams currently conducting on-ground studies. Additionally, another global consultant is evaluating the capacity of the manufacturing facilities.
Misra stated that once the report is completed, expected by mid-September or later, it will be presented to the Board for necessary approvals. He highlighted that the company, with a market capitalization exceeding $34 billion, has sufficient resources to finance its expansion and capital expenditure plans without needing immediate fresh acquisitions.
Hindustan Zinc ranks as the second-largest zinc miner and the third-largest silver producer globally. In the April to June period, the company reported a mined metal production of 2,63,000 tons, a 2% year-on-year increase. Refined zinc metal production was 2,11,000 tons, and saleable lead amounted to 51,000 tons.
According to Vedanta’s recently approved demerger plans, Hindustan Zinc will focus solely on resources in India, while Vedanta Resources will explore international markets for copper and other minerals. As reported by thehindubusinessline.com, the company also plans to venture into critical mineral mining in India, targeting resources such as graphite, gold, and other essential minerals.
