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Vedanta's fiscal Q2'18 mined metal output at Zinc India ops rises 14% YOY

Vedanta Resources Plc saw a year-over-year increase in output from its Indian operations in the second fiscal quarter of 2018.

Mined metal production from the Indian operations increased 14% year over year to 219,000 tonnes in the quarter on the back of higher volumes from underground mines, the company said Oct. 10.

Production of refined zinc jumped 28% to 192,000 tonnes, refined lead output increased 24% to 38,000 tonnes, and total silver output surged 31% to a record 4.5 million ounces.

Output from the international zinc operations increased 13% year over year to 42,000 tonnes. Production of salable iron ore fell 14% to 1.2 million dry tonnes due to lower output at both Goa and Karnataka operations.

Pig iron production dropped 29% to 137,000 tonnes due to a strike of the local contractors, which resolved in mid-September. Iron ore sales fell 7% year over year to 700,000 tonnes in the quarter.

Quarterly copper cathode production from India increased 9% year over year to a record of 106,000 tonnes due to improved operational efficiencies.

Zambian copper output for the quarter jumped 15% year over year to 54,000 tonnes due to better performance at the Konkola mine, the Nchanga open pit, the tailings leach plant and better smelter utilization.

Total aluminum production in the three months surged 36% to a record of 401,000 tonnes, driven by ramp ups at the Jharsuguda II smelter and complete ramp up of the Balco II smelter in the first quarter.

In the first half of the year, output from the Indian operations jumped 53% for refined zinc to 386,000 tonnes, output of refined lead increased 32% to 73,000 tonnes and silver production increased 30% to 8.2 million ounces.

Zinc output from international operations dropped 9% year over year to 74,000 tonnes.

Salable iron ore production in the half declined 4% year over year to 4.5 million dry tonnes, while pig iron output fell 19% to 300,000 tonnes mainly due to lower metallurgical coke availability because of weather related supply disruptions in Australia.

Sales for iron ore dropped 12% in the six months to 3 million dry tonnes.

Copper cathode production from India slipped 1% year over year to 197,000 tonnes in the half, while Zambian copper output increased 11% year over year to 101,000 tonnes.

Aluminum production in the first half surged 39% to 753,000 tonnes due to ramp up of additional pots at Jharsuguda II and Balco II smelters.