Vedanta Resources posts record annual production figures

Vedanta Resources posts record annual production figures

Diversified metals miner Vedanta Resources (NSE:VEDL) has posted record annual production at its aluminium, power and Indian zinc and copper units for the year up to March 2017.

Zinc and lead production across the group’s Indian units hit 907,000 tonnes, leaping up 40% in the fourth quarter due to a ramp-up in output from a mine in Rajasthan.

Vedanta also produced a record 14.55 million ounces of refined silver at its Indian facilities over the year, an increase of 7% on the previous year’s production.

India’s largest zinc miner is also a key player in India’s oil and gas industry, and increased production at its Mangala oil field in Rajasthan, recording a Q4 production figure of 56,000 barrels of oil equivalent per day.

Chief Executive Officer Tom Albanese said: “In line with our strategic priority to ramp up production at our zinc, aluminium, power and iron ore businesses, I am happy to say that we have achieved strong results on this front during the year.

“In particular, record production levels at Hindustan Zinc are well-timed in these strong commodity markets.”

Vedanta also separately confirmed its merger with oil and gas firm Cairn India was finally complete, after the process was delayed due to investor opposition.