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Hindustan Zinc, Vedanta Post Record Q2 Mined Output as Refined Mix Diverges

Operational constraints drove higher mined output alongside softer refined volumes.

Overview

  • Hindustan Zinc reported mined metal of 258 kilotonnes in Q2 FY26, up 1% year-on-year and the company’s highest second-quarter output.
  • The company pointed to better grades and recoveries for a highest-ever mined run of 523 kilotonnes, even as total refined metal slipped 6% to 246 kilotonnes.
  • Refined zinc rose 2% to 202 kilotonnes, while refined lead fell 29% to 45 kilotonnes due to prior lead-only pyro operations and lower pyro plant availability.
  • Saleable silver declined 22% to 144 tonnes in line with weaker lead output, with planned shutdowns and availability shaping volumes.
  • Vedanta said Zinc India mined metal also totaled 258 kilotonnes for the quarter, its best second-quarter level, while aluminium rose 1% to 617 kilotonnes with record alumina and aluminium at Lanjigarh and higher international zinc volumes on improved milling and grades.