Hindustan Zinc’s Highest-Ever First Quarter Mined Metal and Silver Production Backed by Operational Efficiency and Rigorous Cost Reduction Program

Highest-ever first quarter mined metal production at 257 kt
Back-to-back cost improvement in last 2 quarters resulting from our rigorous cost reduction programme; total saving of approximately $100/t
Highest-ever first quarter silver production at 179 MT

Hindustan Zinc Limited, the leading global integrated producer of zinc, lead and silver, reported its results for the first quarter ended June 30, 2023.

Commenting on the performance, Mr. Arun Misra, CEO, said: “Hindustan Zinc has once again demonstrated its ability to deliver in a highly volatile external environment by accomplishing highest ever first quarter mined metal and silver production and maintaining a consistent run-rate of refined metal production. We strongly believe that in a cyclical commodity business, protecting margins is fundamental, hence our strong focus lies on optimising cost and enhancing volumes. The cornerstone of Hindustan Zinc’s strategic priorities is to maximise shareholders return, and delivering as per commitment is an accurate reflection of the same. Our strategic development projects are also progressing well and now on track, while we continue to progress on our sustainability journey towards net-zero by 2050. I am also happy to share that Hindustan Zinc has been certified as a Great Place to Work’ for the fifth consecutive year. With such endorsements at the backdrop, we strive to grow safely, responsibly, and sustainably.”

Mr. Sandeep Modi, CFO, said: “Amidst the macro-economic headwinds moderating the base metal prices, Hindustan Zinc had a positive start of the year with a strong operational performance, attributable to consistent cost optimisation efforts and operational efficiencies, thereby protecting margins. With a first-time sequential drop in first quarter cost of production in the recent past, we continue to maintain our cost leadership in the global zinc cost curve. As we advance forward in this transformational year, we continue to focus on our ongoing development projects, automation & digitalisation investments and sustainable operations. I am happy to share that Hindustan Zinc has been recognised with Masters of Risk Jury Award in Metals & Mining and ESG Specialization’ at CNBC-ICICI Lombard India Risk Management Awards 2023.”

Financial Summary Standalone