- The company carries LBMA certification of 99.99% pure silver and its Sindesar Khurd Mine stands as the world's 2 nd largest silver-producing mine
Mumbai, 18th April 2024: Hindustan Zinc Limited – 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.
About Hindustan Zinc Limited
Hindustan Zinc Limited (BSE: 500188 and NSE: HINDZINC), a Vedanta Group company, is the world’s largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024, reflecting its operational excellence, innovation, and leading ESG practices. The company also launched EcoZen, Asia’s first low carbon ‘green’ zinc brand. Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced, about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. Transforming the lives of 1.9 million people through its focused social welfare initiatives, Hindustan Zinc is among the Top 10 CSR companies in India. As an energy transition metals company, Hindustan Zinc is pivotal in providing critical metals essential for a sustainable future.
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