SUPPLY NEWS - Vedanta's FY zinc output outside India falls 27 pct

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Vivian Teovivian.teo@fastmarkets.comJoint News Editor - Asia

Singapore 12/04/2016 - Vedanta's production of both refined and mined zinc outside of India fell 27 percent to 226,000 tonnes in the fiscal year to the end of March 2016.

Output had fallen 39 percent year-on-year to 42,000 tonnes in the January-March fourth quarter, the company said in a production report on Monday.

The declines reflect the closure of its Lisheen mine in Ireland in November last year - output from the mine dropped 46 percent year-on-year to 81,000 tonnes during the fiscal year.

Metal production at its Skorpion mine in Namibia fell 20 percent to 82,000 tonnes in the whole year due to a maintenance shutdown in October-December, temporary industry action in July-September and lower mine grades.

Vedanta's refined zinc production in India rose three percent to 759,000 tonnes in fiscal 2016. This was despite a 29 percent year-on-year drop in output to 154,000 tonnes in the January-March quarter due to lower mined metal content.

Vedanta's mined zinc metal in India was flat at 889,000 tonnes in the year but output fell 30 percent year-on-year to 188,000 tonnes in January-March.

Meanwhile, Vedanta's copper cathode production in India hit a record 384,000 tonnes in fiscal 2016 after rising six percent from the previous year. Output in the January-March quarter rose six percent year-on-year to 102,000 tonnes.

Its refined lead production in India rose 14 percent to 145,000 tonnes in fiscal 2016. Output increased six percent year-on-year to 38,000 tonnes in January-March.


(Editing by Mark Shaw)



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