Sterlite Industries (India) Limited today announced its
production results for the Second Quarter (Q2) and Half Year (H1)
ended 30 September 2012.
Highlights
- Strong H1 integrated production of
Silver and Lead at Zinc India, up 66% and 59% respectively
- Record Power sales in Q2 and H1
Zinc - India
Q2 Q1 H1
Particulars (in’000 tonnes, or as stated)
FY2013
FY2012 % change YoY FY2013
FY2013 FY2012 % change YoY
ZINC INDIA
Mined metal content 190 210 (9%) 187 377 398 (5%)
Refined Zinc -
Total 163 185 (12%) 161 324
378 (14%) Refined Zinc - Integrated 153 185 (17%) 157
310 376 (17%) Refined Zinc - Custom 10 - - 4 14 2 -
Refined Lead
- Total 1 27 17 60% 31
58 33 75% Refined Lead - Integrated 24 17 40%
29 53 33 59% Refined Lead - Custom 3 - - 2 5 - -
Silver - Total
(in tonnes) 2 92 49 86% 82
174 96 81% Silver - Integrated (in tonnes) 80
49 63% 79 160 96 66% Silver – Custom (in tonnes) 12 -
- 3 14 -
Mined metal production was 190,000 tonnes in Q2 and 377,000
tonnes in H1, as compared with 210,000 tonnes and 398,000 tonnes in
the corresponding prior periods. The Sindesar Khurd (SK) mine
continued to ramp-up well with mined metal production up 39% at
45,000 tonnes in H1.
In line with the mined metal production, integrated production
of refined zinc was 153,000 tonnes in Q2 and 310,000 tonnes in H1.
Integrated production of refined lead was 24,000 tonnes in Q2, and
53,000 tonnes in H1, up 40% and 59% respectively, driven by the
ramp-up of the new 100kt Dariba lead smelter.
In line with the mine plan and earlier guidance, mined metal
production in FY2013 is expected to be slightly higher than the
previous year, with production in H2 FY2013 more than making up for
marginally lower production in H1 FY2013 as compared with the
corresponding prior period.
Integrated production of silver was 80 tonnes in Q2 and 160
tonnes in H1, up 63% and 66% respectively, driven by the ramp-up of
SK mine and the new 100kt Dariba lead smelter.
The Rampura Agucha underground mine and Kayar mine projects are
progressing well to deliver commercial production in FY2014. The
Kayar mine produced developmental ore in Q2.
Zinc International
Q2 Q1 H1
Particulars (in’000 tonnes, or as stated)
FY2013
FY2012 % change YoY FY2013
FY2013 FY2012 % change YoY
ZINC INTERNATIONAL 114 114 - 106 220 233 (5%) Zinc -refined
37 37 - 36 73 76 (4%) Mined metal content- BMM and Lisheen
77 77 - 70 147 157 (6%)
Total production of refined zinc and mined zinc-lead metal in
concentrate (MIC) was 114,000 tonnes in Q2, in line with the
corresponding prior period, and 5% lower at 220,000 in H1 in line
with the current year’s mine plan and on account of lower grades,
as earlier guided.
Copper - India and Australia
Q2 Q1 H1
Particulars (in’000 tonnes, or as stated)
FY2013
FY2012 % change YoY FY2013
FY2013 FY2012 % change YoY
COPPER- INDIA / AUSTRALIA
Copper - Mined metal content 6 5 14% 7 13 11 13%
Copper - Cathodes 87 87 - 88 175
161 9%
Copper cathode production was 87,000 tonnes in Q2, in line with
the corresponding prior period, and 9% higher at 175,000 tonnes in
H1.
Mined metal production at Australia was 14% higher at 6,000
tonnes in Q2 and 13% higher at 13,000 tonnes in H1.
The first 80MW unit of the 160MW captive power plant at
Tuticorin, which will predominantly provide power to the copper
smelter, was synchronised during the quarter.
Aluminium
Q2 Q1 H1
Particulars
(in’000 tonnes, or as stated)
FY2013 FY2012 % change YoY
FY2013 FY2013 FY2012 % change
YoY ALUMINIUM
Balco 63 60 4% 60 123
121 1%
The Balco Korba-II smelter continues to operate at its rated
capacity.
Due to a delay in obtaining regulatory approvals, the first
300MW unit of the BALCO 1,200MW captive power plant is now expected
to be synchronized in the current quarter. Thereafter, we plan to
tap the first metal at the 325 ktpa Korba-III aluminium smelter in
Q4 FY2013. For the 211mt coal block at BALCO, we are progressing
well towards obtaining the second stage forest clearance, and
thereafter we intend to commence mining this year.
Power
Q2 Q1 H1
Particulars (in million units)
FY2013
FY2012 % change YoY FY2013
FY2013 FY2012 % change YoY
POWER
Total Power Sales 2,474 1,748 42% 2,458 4,933 3,415 44% SEL
3 1,940 1,267 53% 1,938 3,879 2,404 61% Balco 270MW Power Sales 346
387 (10%) 338 684 811 (16%) HZL Wind Power 188 94
99% 182 370 200 85%
Power sales were 2,474 million units in Q2 and 4,933 million
units in H1, 42%and 44% higher than the corresponding prior
periods. This significant increase was primarily due to higher
power sales from three units of the Jharsuguda 2,400MW power plant,
operating at availability of over 80% and plant load factor (PLF)
of 50% in H1, with the fourth unit generating under trial run. PLF
of the Jharsuguda 2,400MW power plant was constrained due to
evacuation limitations. We continue to work towards debottlenecking
of our evacuation capacity, and target to enhance it by an
additional 1,000MW transmission by Q4 FY2013.
Power sales were augmented by higher sales at HZL wind power,
which was expanded by 150MW to 274MW last year.
Power sales at Balco 270 MW were 10% lower at 346 million units
in Q2 and 16% lower at 684 million units in H1 due to lower
demand.
Work at the Talwandi Sabo power project is progressing well and
the first unit is now expected to be synchronized in Q2 FY2014.
Production Summary (Unaudited)
(in ’000 tonnes, except as stated)
Q2 Q1 H1
Particulars FY2013 FY2012 %
change YoY FY2013 FY2013 FY2012
% change YoY ZINC INDIA
Mined metal content 190 210 (9%) 187
377 398 (5%)
Refined Zinc - Total 163 185
(12%) 161 324 378 (14%) Refined
Zinc - Integrated 153 185 (17%) 157 310 376 (17%) Refined Zinc -
Custom 10 - - 4 14 2 -
Refined Lead - Total 1
27 17 60% 31 58 33
75% Refined Lead - Integrated 24 17 40% 29 53 33 59% Refined
Lead - Custom 3 - - 2 5 - -
Silver - Total (in tonnes)
2 92 49 86% 82 174
96 81% Silver - Integrated (in tonnes) 80 49 63% 79
160 96 66% Silver – Custom (in tonnes) 12 - 3 14 -
ZINC INTERNATIONAL 114 114 - 106
220 233 (5%) Zinc -refined 37 37 - 36 73 76
(4%) Mined metal content- BMM and Lisheen 77 77 - 70 147 157 (6%)
COPPER- INDIA / AUSTRALIA
Copper - Mined metal content 6 5 14% 7 13 11 13%
Copper - Cathodes 87 87 0% 88
175 161 9% ALUMINIUM
Balco 63 60 4% 60 123 121 1%
POWER (in million units)
Total Power Sales 2,474 1,748
42% 2,458 4,933 3,415 44% SEL 3
1,940 1,267 53% 1,938 3,879 2,404 61% Balco 270MW Power Sales 346
387 (10%) 338 684 811 (16%) HZL Wind Power 188 94
99% 182 370 200 85%
1.
Includes captive consumption of 3,076
tonnes in H1 FY2013 vs. 2,739 tonnes in H1 FY 2012, and 1,435
tonnes in Q2 FY2013 vs. 1,348 tonnes in Q2 FY2012.
2.
Includes captive consumption of 16 tonnes
in H1 FY2013 vs. 14 tonnes in H1 FY 2012 and 8 tonnes in Q2 FY2013
vs. 7 tonnes in Q2 FY2012.
3.
Includes production under trial run of 339
million units in H1 FY2013 vs. 288 million units in H1 FY2012, and
138 million units in Q2 FY2013 vs. 149 million units in Q2
FY2013.
About Sterlite
Industries
Sterlite Industries (India) Limited is India’s largest
diversified metals and mining company. The company produces
aluminium, copper, zinc, lead, silver, and commercial energy and
has operations in India, Australia, Namibia, South Africa and
Ireland. The company has a strong organic growth pipeline of
projects. Sterlite Industries is listed on the Bombay Stock
Exchange and National Stock Exchange in India and the New York
Stock Exchange in the United States. For more information, please
visit www.sterlite-industries.com
Disclaimer
This press release contains “forward-looking statements” – that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“seeks,” “should” or “will.” Forward–looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other
matters of national, regional and global scale, including
those of a political, economic, business, competitive or regulatory
nature. These uncertainties may cause our actual future results to
be materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
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