Vedanta Group firm Hindustan Zinc's mined metal production increased by 21 per cent to 2.76 lakh tonnes in the third quarter of ongoing fiscal on the back of higher volumes from Rampura Agucha underground and open cast mines.
"Mined metal production was 276,000 tonnes, higher by 21 per cent compared with Q3 FY2016, and 44 per cent sequentially," Vedanta Ltd said in a filing to the BSE, adding that "We are on track to achieve stated guidance of higher mined metal production in FY2017 compared to FY2016."
The sequential increase was on account of higher volumes from Rampura Agucha open cast mine in accordance with mine plan and the y-o-y increase was driven by higher volumes from Rampura Agucha underground and open cast mines, it said.
Integrated zinc metal production during the quarter was at 2.05 lakh tonnes, up 38 per cent from previous quarter, and flat Y-o-Y on account of accretion of mined metal inventory.
Metals and mining group Vedanta's Goan iron ore arm reported production of 2.3 million tonnes and sales of 2.7 million tonnes during the quarter.
"Mining activities resumed post the monsoon season, and hence production was significantly higher sequentially. At Karnataka, production was 0.4 million tonnes and sales were 1.0 million tonnes. Sales were higher than production at Goa and Karnataka due to sales from opening inventory.
"During Q3 FY2017, production of pig iron was higher y-o-y at 154,000 tonnes due to higher plant availability post debottlenecking. Production was lower by 20% q-o-q primarily due to the maintenance shutdown for relining one of the furnaces for about 35 days in Q3 FY2017," the company said.
Agarwal said Jharkhand, endowed with rich natural
resources, has the potential to become a leading producer of goods.
"Today, India imports USD 400 billion worth of goods and everything could be produced here. A lot can be produced in Jharkhand," Agarwal said.
He also said that with abundant natural resources and manpower Jharkhand could create a massive employment and eradicate its poverty.
Stressing that nothing has happened in the state in the last 20-30 years, Vedanta chief said now the time has come for the state to progress by tapping its natural resources.
