Hindustan Zinc Ltd rises to become the third-biggest producer of silver worldwide
The Vedanta group firm Hindustan Zinc Limited rose to the position of third in the world’s silver producers in the World Silver Survey 2024, which was carried out by “The Silver Institute” in the United States.
The company’s Sindesar Khurd Mine, which ranked fourth last year, is now the second-largest silver-producing mine in the world, according to the poll.
Hindustan Zinc’s Chairperson, Priya Agarwal Hebbar, credited the company’s improved grades and higher ore output for solidifying its place as a major participant in the world silver market. “Atmanirbhar Bharat is made possible by our recent record-breaking silver output of 746 MT. Silver is essential to the worldwide energy shift.
Increased ore output and improved grades are responsible for Hindustan Zinc’s 5% annual production growth, which solidifies the company’s position as a major participant in the world silver market. We were able to optimize the production process while minimizing the environmental effect thanks to the new technology and sustainable mining methods that were used to accomplish this amazing achievement, Hebbar tweeted.
based in Mexico The world’s biggest producer of silver is Fresnillo. It operates gold and silver mines in Mexico. In 2023, Fresnillo produced 53.5 million ounces of silver, a 5% increase over the previous year.
The world’s second-largest producer of silver is Polish miner KGHM Polska Miedz. In 2023, it produced 45.9 million ounces, an 8% increase over the year before.
India is predicted to be the largest contributor to the small 4% rebound in jewelry production that is anticipated in 2024, in part due to the merchants’ resumed restocking. The demand for silverware is expected to increase by 7%, mostly due to India’s strong economic development and rising disposable incomes.
