Sterlite (SLT) Issues Update on Production for Q4, FY12; Aluminum Production In-Line
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Sterlite Industries (NYSE: SLT) issues the following production updates for its fourth-quarter and fiscal year ended in March, 2012.
Zinc - India
Mined Zinc-Lead metal production was 223,000 tonnes in Q4, 7% higher than Q3. During the quarter, the Sindesar Khurd (SK) mine ramped up to contribute a record 24,000 tonnes metal-in-concentrate. For the full year, mined Zinc-Lead metal production was marginally lower at 830,000 tonnes.
Mined Zinc-Lead metal production in FY 2012-13 is expected to be slightly higher than FY 2011-12. In line with the mine plan for Rampura Agucha, production in first half of FY 2012-13 is expected to be marginally lower than corresponding period in FY 2011-12, but will be more than made up in second half of FY 2012-13. SK mine ramped-up to 80% utilization in Q4 and will deliver volumes near its capacity in FY 2012-13.
Refined Zinc production was marginally lower at 190,000 tonnes in Q4, and 6% higher at 759,000 tonnes for the year. Lead production in Q4 was 110% higher at a record 37,000 tonnes primarily due to the ramp-up of the new 100 ktpa Dariba Lead smelter, which contributed 18,000 tonnes.
With the Rajasthan smelters fully ramped-up and operating at high efficiencies, during the quarter it was decided to ramp down the 35-year old Vizag Zinc smelter, which had a relatively higher cost and contributed 28,000 tonnes of refined Zinc production during the full year.
Silver production was at a record 88 tonnes in Q4, 77% higher as a result of ramp-ups of the SK mine, the new 100 ktpa Dariba Lead smelter and the new Silver refinery. Silver production for the full year was 35% higher at 242 tonnes.
Zinc – International
In Q4, total production of Zinc-Lead metal-in-concentrate and Zinc metal was 106,000 tonnes, which included 71,000 tonnes of Zinc and Lead metal-in-concentrate (MIC) at Lisheen and BMM and 36,000 tonnes of refined Zinc at Skorpion, in line with earlier years.
For the full year, total production of Zinc and Lead metal-in-concentrate and Zinc metal was 444,000 tonnes, which included 299,000 tonnes of Zinc and Lead metal-in-concentrate (MIC) at Lisheen and BMM, and 145,000 tonnes of refined Zinc at Skorpion.
Copper ― India and Australia
Copper cathode production at the Tuticorin smelter was 80,000 tonnes in Q4, in line with the corresponding prior period. For the full year, copper cathode production was 326,000 tonnes.
The first 80 MW unit of the captive power plant at Tuticorin has achieved mechanical completion in Q4 and will be synchronised in the current quarter.
Mined metal production at our Australian mines was 5,000 tonnes and 23,000 tonnes during Q4 and the full year, respectively, in line with the corresponding prior periods.
Aluminium
Aluminium production at 245 ktpa BALCO-II smelter was 62,000 tonnes, in line with the corresponding prior quarter. The smelter operated at its rated capacity for the full year.
The first metal tapping from the 325 ktpa BALCO-III Aluminium smelter is expected by Q3 FY 2012-13. The first 300 MW unit of the 1200 MW captive power plant at BALCO will be synchronised in the current quarter.
We continue to work towards the second stage forest clearance for the 211 mt BALCO coal block, following the Environment Appraisal Committee (EAC) approval received in November 2011.
Power
Power sales were 2,166 million units and 7,579 million units during Q4 and the full year, as compared with 1,040 million units and 2,680 million units during the corresponding prior periods, respectively, as the three new 600 MW units of the Jharsuguda 2,400 MW power plant come into operation. During the quarter, Unit-3 started commercial production and Unit-4 was synchronised.
Work at the 1,980 MW power project at Talwandi Sabo is progressing well and the first 660 MW unit is on track for synchronization in Q4 FY 2012-13. The 150 MW wind power expansion at HZL was completed during the quarter, taking our wind power generation capacity to around 274 MW.
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Zinc - India
Mined Zinc-Lead metal production was 223,000 tonnes in Q4, 7% higher than Q3. During the quarter, the Sindesar Khurd (SK) mine ramped up to contribute a record 24,000 tonnes metal-in-concentrate. For the full year, mined Zinc-Lead metal production was marginally lower at 830,000 tonnes.
Mined Zinc-Lead metal production in FY 2012-13 is expected to be slightly higher than FY 2011-12. In line with the mine plan for Rampura Agucha, production in first half of FY 2012-13 is expected to be marginally lower than corresponding period in FY 2011-12, but will be more than made up in second half of FY 2012-13. SK mine ramped-up to 80% utilization in Q4 and will deliver volumes near its capacity in FY 2012-13.
Refined Zinc production was marginally lower at 190,000 tonnes in Q4, and 6% higher at 759,000 tonnes for the year. Lead production in Q4 was 110% higher at a record 37,000 tonnes primarily due to the ramp-up of the new 100 ktpa Dariba Lead smelter, which contributed 18,000 tonnes.
With the Rajasthan smelters fully ramped-up and operating at high efficiencies, during the quarter it was decided to ramp down the 35-year old Vizag Zinc smelter, which had a relatively higher cost and contributed 28,000 tonnes of refined Zinc production during the full year.
Silver production was at a record 88 tonnes in Q4, 77% higher as a result of ramp-ups of the SK mine, the new 100 ktpa Dariba Lead smelter and the new Silver refinery. Silver production for the full year was 35% higher at 242 tonnes.
Zinc – International
In Q4, total production of Zinc-Lead metal-in-concentrate and Zinc metal was 106,000 tonnes, which included 71,000 tonnes of Zinc and Lead metal-in-concentrate (MIC) at Lisheen and BMM and 36,000 tonnes of refined Zinc at Skorpion, in line with earlier years.
For the full year, total production of Zinc and Lead metal-in-concentrate and Zinc metal was 444,000 tonnes, which included 299,000 tonnes of Zinc and Lead metal-in-concentrate (MIC) at Lisheen and BMM, and 145,000 tonnes of refined Zinc at Skorpion.
Copper ― India and Australia
Copper cathode production at the Tuticorin smelter was 80,000 tonnes in Q4, in line with the corresponding prior period. For the full year, copper cathode production was 326,000 tonnes.
The first 80 MW unit of the captive power plant at Tuticorin has achieved mechanical completion in Q4 and will be synchronised in the current quarter.
Mined metal production at our Australian mines was 5,000 tonnes and 23,000 tonnes during Q4 and the full year, respectively, in line with the corresponding prior periods.
Aluminium
Aluminium production at 245 ktpa BALCO-II smelter was 62,000 tonnes, in line with the corresponding prior quarter. The smelter operated at its rated capacity for the full year.
The first metal tapping from the 325 ktpa BALCO-III Aluminium smelter is expected by Q3 FY 2012-13. The first 300 MW unit of the 1200 MW captive power plant at BALCO will be synchronised in the current quarter.
We continue to work towards the second stage forest clearance for the 211 mt BALCO coal block, following the Environment Appraisal Committee (EAC) approval received in November 2011.
Power
Power sales were 2,166 million units and 7,579 million units during Q4 and the full year, as compared with 1,040 million units and 2,680 million units during the corresponding prior periods, respectively, as the three new 600 MW units of the Jharsuguda 2,400 MW power plant come into operation. During the quarter, Unit-3 started commercial production and Unit-4 was synchronised.
Work at the 1,980 MW power project at Talwandi Sabo is progressing well and the first 660 MW unit is on track for synchronization in Q4 FY 2012-13. The 150 MW wind power expansion at HZL was completed during the quarter, taking our wind power generation capacity to around 274 MW.
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