Vedanta’s Hindustan Zinc Becomes the 3rd Largest Producer of Silver Globally
April 18 2024 - 11:28AM
Business Wire
The company carries LBMA certification of
99.99% pure silver and its Sindesar Khurd Mine stands as the
world's 2nd largest silver-producing mine
Hindustan Zinc Limited (HINDZINC | 500188 | INE267A01025)
- a Vedanta group company in zinc-lead-silver business has now
become the 3rd largest* silver producer globally as per the World
Silver Survey 2024 conducted by ‘The Silver Institute’, USA. The
company’s Sindesar Khurd Mine now stands as the world's 2nd largest
silver-producing mine moving up from last year’s 4th position.
On this achievement, Chairperson of Hindustan Zinc – Ms.
Priya Agarwal Hebbar said, “Silver plays a pivotal role in the
global energy transition and our recent record silver production of
746 MT paves the way for Atmanirbhar Bharat. Hindustan Zinc’s
production growth of 5% year-on-year is attributed to increased ore
production and enhanced grades, reinforcing its status as a key
player in the global silver market. This remarkable feat has been
achieved using innovative technologies and sustainable mining
practices, which helped us in optimizing the production process
while reducing the environmental impact.”
Additionally, the recognition of its Pantnagar silver refinery
by the London Bullion Market Association (LBMA) and inclusion in
the ‘London Good Delivery’ list reaffirms the refinery's adherence
to international quality standards, marked by LBMA certification of
99.99% pure silver. Operating on 100% renewable power, sourced for
its operations, Hindustan Zinc's silver refinery at Pantnagar Metal
Plant aligns seamlessly with the company's pledge towards achieving
net-zero emissions by 2050 or sooner.
Globally, solar – the fastest growing of all the sources of
renewable energy with about 440 GW installed in 2023 – is poised to
elevate silver demand. Additionally, the proliferation of
electrical appliances, electronics, and gadgets underscores the
rising need for silver in conductive materials and components,
owing to its exceptional conductivity ideal for touchscreens,
circuitry, and connectors.
Anticipating a modest 4% recovery in jewellery fabrication in
2024, India is expected to be the biggest contributor, in part as
restocking by retailers resumes. The silverware demand is projected
to rise by 7%, predominantly driven by India's robust economic
growth and escalating disposable incomes.
https://www.silverinstitute.org/wp-content/uploads/2024/04/World-Silver-Survey-2024.pdf
*Production from integrated operations only
For additional information please visit Hindustan Zinc Ltd
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