Hindustan Zinc’s robust H1 backed by strategic growth projects, sustained cost optimization, and ESG excellence
- Debari and fertilizer project on track
- Only Indian company in mining sector with validated & approved SBTi targets in alignment with 1.5 °C target
- Tie up with GreenLine for 180 LNG based vehicle for logistics support providing 30% carbon footprint reduction
- 4,000 KLD Zero Liquid Discharge, first of its kind in mines installed at Zawar group of mines
this quarter we commissioned another 4,000 KLD zero liquid discharge plant at Zawar mines and entered in an agreement for 180 LNG vehicles for green transportation. I am happy to share that our ambitious net zero targets are now approved by SBTi making Hindustan Zinc the only Indian company in mining sector with validated targets.”
Mr. Sandeep Modi, CFO, said: “With our persistent focus on cost optimisation, operational efficiencies and working capital management, Hindustan Zinc delivered another quarter of steady margins and financial performance despite the complex economic landscape. I am happy to share that driven by our cost optimisation efforts, we have successfully achieved third consecutive quarter of sustained cost improvement and the lowest cost in last six quarters. We are well positioned to execute our strategic priorities in FY24 revolving around cost optimisation, digital advancement enhancing our competitive edge, healthy cash flows and robust balance sheet thereby generating long-term sustainable value for shareholders.”
Outlook for FY24
We would like to reiterate our guidance for FY24.
Mined metal is expected to be between 1,075-1,100 kt and refined metal production in the range of 1,050-1,075 kt. Saleable silver production is projected to be between 725-750 MT.
Zinc cost of production in FY24 is expected to be in between US$ 1,125-1,175 per MT. Project capex for the year is expected to be in the range of US$ 175-200 million.
