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Hang Seng
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MCX NATURALGAS OCT 26
USD/INR
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FY21 silver production can hit 690 tonnes at current pace: Hindustan Zinc

Updated : January 21, 2021 11:51 AM IST

Hindustan Zinc CEO Arun Mishra on Thursday said the company is looking to beat its earlier guidance on silver production while adding that the third-quarter earnings came in a little better than estimated but guidance was reassuring.

Speaking with CNBC-TV18 on silver production, Misra said, “We are not giving revised guidance, we are only saying that looking at the trend of this quarter we hope to be better than what we have achieved. At current levels we are achieving more than 60 tonne silver a month, so roughly 180 tonne and if you add it to 500 tonne roughly that we have produced till today so it should give us anywhere between 680-690 tonne of silver that will better than what we had guided for.”

On cost, Misra said, “$946 per tonne would remain somewhere close to that or maybe better than that but we will remain within $1,000 per tonne.”

On exports, Misra said, “During COVID it was more about exports, about 60 percent used to be exported, we have come down to normal standard levels of anywhere between 25-30 percent. This quarter it should be around 29 percent which is more sustainable.”

On budget expectations, Misra said that it should focus on infra and the revival of the auto sector.

“Going forward after the Indian budget we hope to see more push for infrastructure, the revival of the auto sector, the steel sector is up and is performing well, we hope to see more push from the domestic front as well as zinc demand is concerned,” he added.

On zinc prices, Misra said, “Overall globally there has been a drop in zinc production by about three percent and economic uptick that we are seeing, I expect the next quarter price to be around $2800 per tonne and remain stable around this.”

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