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Hindustan Zinc becomes 5th largest silver producer globally


UDAIPUR, APR 22, 2023

Hindustan Zinc, India’s leading zinc-lead-silver producer, has emerged as the 5th largest silver producer in the world, according to the World Silver Survey 2023 by The Silver Institute. This places India in the top 20 silver-producing countries. Earlier, the company was ranked 6th largest silver producer which has now changed to 5th largest with 694 tonnes of silver production in the calendar year 2022.

 Hindustan Zinc produces 100 per cent of India’s integrated silver. The company has increased its production of silver manifold since disinvestment with a production capacity of 800 tonnes from a meager capacity of 41 tonnes in 2002.

Previously, Silver refinery of Hindustan Zinc located at Pantnagar, in Uttarakhand has also been recognized by London Bullion Market Association (LBMA); and has been added to “London Good Delivery” list. The silver produced at its refinery is marked 99.99 per cent pure and has been LBMA certified.

Globally, the scenario of the total supply of silver has been constant compared to the previous year of 2021 at around 1,004 million ounces according to World Silver Survey 2023 by The Silver Institute.

India witnessed a 24per cent jump in silver demand primarily driven by an increased demand in jewellery fabrication, silverware demand and physical investments post pandemic. According to provisional data from the Ministry of Commerce and Industry, Indian silver imports in the first seven months of 2022, surged to 5,100 tonnes from just 110 tonnes during the same period a year ago.

 Globally, the highest usage of Silver is in industrial fabrication, followed by jewellery, coins & bars and silverware as per World Silver Institute.

In 2023, World Silver Institute expects industrial fabrication will reach another all-time high, boosted by continued gains in photovoltaic (PV) applications.

 Hindustan Zinc’s Sindesar Khurd Mine with this recognition is also placed in the Top 30 Silver Producing Mines in the world by securing 4th rank in the list.

Hindustan Zinc, a Vedanta Group company in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and 5th largest Silver producer. The company governs about 80 per cent of the growing Zinc market in India with its headquarters at Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.

Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by setting-up wind power plants. The company is ranked 1st in Asia-Pacific for the fourth consecutive year and globally 3rd in S&P Global Corporate Responsibility Assessment in 2022 amongst Mining & Metal companies. Hindustan Zinc is a certified Water Positive company and is the only Indian company to be recognized at the S&P Global Platts Metal Award 2022 winning two prestigious awards for ‘Industry Leadership Award – Base, Precious & Specialty Metals’ Award and ‘Corporate Social Responsibility’ Award.

The company takes pride in having some of the best-in-class people practices and employee-centric initiatives, which have certified Hindustan Zinc as – ‘Great Place to Work 2022′, ‘Company with Great Managers 2022′ by People Business and the ‘People-first HR Excellence Award’.

As a socially responsible corporate, Hindustan Zinc has been relentlessly working towards transforming lives of 1.7 million people in 237 villages in the states of Rajasthan and Uttarakhand. The company is amongst the Top 15 CSR Spenders in India.

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