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Sterlite Industries (India) Limited: Production Release For The Second Quarter And Half Year Ended 30 September 2011

Q2 Highlights

  • Continued production growth in zinc, lead, silver and power
  • Commissioned the 100 ktpa Dariba Lead Smelter

Zinc – India

Mined metal production was 210,000 tonnes in Q2 and 398,000 tonnes in H1, up 2% and 3%, respectively, as compared with the corresponding prior periods, reflecting near normal production at Rampura Agucha following the maintenance shutdown in Q1. Ramp-up of the SK mine is on track to achieve its targeted 2 mtpa capacity by the end of the year.

Refined zinc production was 185,000 tonnes in Q2 and 378,000 tonnes in H1, up 5% and 11%, respectively, primarily due to improved operational performance at our hydro smelters. Refined lead production was 17,000 tonnes in Q2 and 33,000 in H1, up 6% and 6%, respectively, primarily due to volumes from the new 100kt Dariba lead smelter, which was commissioned and capitalized during the quarter.

Silver production was 1.58 million ounces in Q2 and 3.09 million ounces in H1, up 12% and 10%, respectively. The new silver refinery is planned to be commissioned in the current quarter. With the ramp up of the SK mine and commissioning of the refinery, our silver capacity will reach 16 million ounces by the end of FY2011-12.

Zinc – International

Total equivalent zinc-lead production was 114,000 tonnes in Q2 and 233,000 tonnes in H1, down 2% and up 5%, respectively, as compared with the corresponding prior periods. This comprised production of zinc-lead concentrate of 77,000 tonnes MIC in Q2 and 157,000 tonnes MIC in H1 at BMM and Lisheen, and refined zinc production of 37,000 tonnes in Q2 and 76,000 tonnes in H1 at Skorpion.

Copper

During Q2, the Tuticorin copper smelter produced 87,000 tonnes of copper cathode, 28% higher than the corresponding prior quarter. Production in the prior year period was lower on account of a planned bi-annual maintenance shut-down. During H1, production of copper cathode was up 11% at 161,000 tonnes.

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