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Vedanta posts 30% YOY drop in output at Zinc India for Q4'16

Vedanta ResourcesPlc said April 11 that the mined metal production from its Zinc Indiaoperations in the fourth quarter of fiscal 2016, ended March 31, dropped 30% yearover year to 188,500 tonnes.

The decrease was on account of lower production primarily fromRampura Agucha openpit as per the mining plan, which was partially offset by significantly higher productionfrom all the underground mines especially Sindesar Khurd and Kayad, resulting in higher lead and silver volumes.

Refined zinc production in the quarter dropped 29% to 154,000tonnes; however, total silver production jumped 51% to 3.9 million ounces, and refinedlead production increased 6% to 38,000 tonnes, on a yearly basis.

Production at Zinc International was down 39% year over yearto 42,000 tonnes after the closure of the Lisheen mine, which was partially offset by increased productionat the Skorpionmine.

Iron ore production at Goa in India was 1.9 million tonnes andsales were 1.6 million tonnes during the quarter. At Karnataka, production was 900,000tonnes and sales were 1.0 million tonnes during the quarter.

Pig iron production increased 30% year over year to 188,000 tonnes.

Copper cathode production from the Indian operations improved6% to 102,000 tonnes, while total copper production from the Zambian operationsdropped 5% to 46,000 tonnes in the quarter.

Total aluminum production in the quarter was down 2% year overyear to 226,000 tonnes.

In the full fiscal 2016, mined metal production at the Zinc Indiaoperations remained stable at 889,000 tonnes.

Full year production at Zinc International was 226,000 tonnes,a 27% drop year over year.

Iron ore production in full fiscal 2016 at Goa was 2.2 milliontonnes and sales were 2.2 million tonnes. At Karnataka, production was 3.0 milliontonnes.

Production of pig iron in the year ramped up to a record productionof 654,400 tonnes, from 610,800 tonnes a year ago.

During the year, copper cathode production was 384,000 tonnes,up 6% year over year due to the 23-days planned biennial maintenance shutdown infiscal 2015. Total copper production the Zambian operation was up 8% on a yearlybasis to 182,000 tonnes.

Full fiscal 2016 aluminum production achieved record levels at923,300 tonnes driven by ramp up of additional pots at Korba II and II.

Vedanta added that it is reviewing the carrying value of itsassets and long-term price assumptions in light of the recent weakness in commodityprices, primarily at its oil and gas assets.