HZL to commission new zinc smelter at Chaneriya soon
Mr KK Kaura chairman & CEO of Vedanta Resources, while addressing the 40th annual general meeting, said that Hindustan Zinc's second 170,000 tonnes per annum smelter at Chanderiya in Rajasthan is being constructed at full swing and may be commissioned ahead of schedule.
An 88,000 tonnes per annum zinc de bottlenecking plant and 80 MW captive power plants are on course for timely completion. The wind energy projects in Karnataka, Gujarat and Maharashtra totaling 110.4 MW, are progressing according to schedule. After completion of these projects, Hindustan Zinc will have a total wind power capacity of 148.8 MW.
Mr Kaura said that "Exploration has always been an integral part of Hindustan Zinc's mining strategy. During the last couple of years, the emphasis on exploration has increased in the light of the company's aggressive growth plans."
He added that with the robust growth in consumption, Hindustan Zinc has a stable outlook on demand and prices. He said "The buoyant GDP growth and encouraging industrial production growth are expected to accelerate the domestic per capita metal consumption. The higher volume from expansion projects would help the company to deliver superior performance in the future."
HZL is India's leading zinc producer and a part of Vedanta Resources, a London listed metals and mining maker. During 2006-07, Hindustan Zinc increased its reserves and resources by 32 million tonnes, an increase of 18% YoY over the previous year net of depletion. The total reserves and resources stand at 209.4 million tonnes as on March 31st 2007.
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