Achieving More Milestones Chasing New Horizons

The Hindustan Zinc journey of excellence continued to translate into many landmark achievements across our mines during FY 2022-23. The focus remained on boosting innovation, technology, safety, productivity and efficiency.

Global demand of zinc witnessed contraction in CY 2022, decreasing by 3.3% to 13.6 Mt, largely due to the fall in Chinese demand. At supply level, the refined zinc metal production came down by 2.9%, as several smelters were put into care and maintenance across the world owing to the increase in energy prices.

Exploration is integral in driving sustainable growth as it increases the confidence on Mineral Resources and Ore Reserves. It envisions the replenishment of every tonne of mined metal by fostering innovation and deploying new technologies.

According to WoodMac, the global lead market, including primary and secondary markets, witnessed y-o-y demand growth of 2.0% to 13.5 Mt in CY 2022, compared to 4.3% y-o-y growth in CY 2021. Demand is expected to go up by 2.4% in CY 2023, with China starting to ease its COVID restrictions. Lead inventories in LME warehouses remained at historically low levels of 26 kt, with a ~35% drop since the start of FY 2022-23.

Hindustan Zinc continued to notch new milestones and surge towards new vistas of growth in its smelters business during FY 2022-23. Its 1 million tonnes refined metal production landmark underscored the success of its initiatives in the smelters business to promote efficiencies and sustainable growth.

The global silver demand rose by 18% in CY 2022 to 1.24 billion ounces and is expected to dip to 1.17 billion ounces in CY 2023. The global industrial demand for silver is expected to increase by 2.6% y-o-y to 550 mn ounces in CY 2023, lifted by vehicle electrification and the growing commitment of governments to green infrastructure.