Hindustan Zinc’s Silver Refinery Receives Renewed LBMA Certification Amid Global Silver Demand Surge

Udaipur – In the midst of a global rally in silver prices, Hindustan Zinc Limited (NSE: HINDZINC), India’s largest and the world’s third-largest silver producer, has once again secured the prestigious London Bullion Market Association (LBMA) Responsible Silver Guidance certification for its Pantnagar Metal Plant. This certification is a testament to the company’s adherence to international quality standards, producing 99.99% pure silver, while ensuring the responsible sourcing of raw materials. Hindustan Zinc now remains on the LBMA’s Good Delivery Listjoining a select group of only 80 silver refiners worldwide.

In the financial year 2024 (FY24), Hindustan Zinc achieved a record-breaking silver production of 746 metric tonnesfurther solidifying its position as the third-largest silver producer globally. The World Silver Survey 2024conducted by The Silver Institute, USAalso confirmed the company’s global stature. The renewal of the LBMA certification ensures that Hindustan Zinc’s silver products, including 30 kg bars, 1 kg barsand silver powdercontinue to meet international trading standards. As India’s sole primary silver producerHindustan Zinc plays a critical role in fulfilling the country’s growing demand for high-quality silver, sourced from assets such as the Sindesar Khurd Mine in Rajasthan, one of the largest silver-producing mines in the world.

The LBMA certification acknowledges Hindustan Zinc’s operational excellence across various fronts, including responsible sourcing, due diligence, and sustainability practices. The rigorous audit process at the Pantnagar Metal Plant showcased the company’s ability to produce high-quality silver while maintaining stringent sustainability and innovation standards. The plant, which operates on 100% renewable energyis a cornerstone of Hindustan Zinc’s commitment to sustainable manufacturing processes.

Commenting on the achievement, Arun Misra, CEO of Hindustan Zincexpressed his delight: “We are thrilled with the renewal of our LBMA certification for the Silver Refinery in Pantnagar. This reaffirmation underscores our dedication to producing premium silver while adhering to global best practices. As India’s sole producer of primary silver, we see tremendous opportunities for growth and value creation. The establishment of a separate silver entity through demerger will further enhance focus on silver, benefiting all stakeholders.”

Silver’s versatility continues to drive its demand across industries, from solar energy and AI to consumer electronics, biotechnologyand jewelry. As the global shift towards clean energy intensifies, silver’s superior electrical conductivity makes it indispensable in solar panel manufacturingwhile its applications in electric vehicles, touchscreensand advanced technologies are expected to further fuel demand.

Hindustan Zinc’s silver production has expanded significantly, growing 15-fold in the past two decadeswith a 10% year-on-year increase reported in Q2 of the current fiscal year. This growth is supported by advanced ore extraction techniques and cutting-edge refining processes.

As a subsidiary of Vedanta GroupHindustan Zinc is a global leader not only in silver production but also in zinc. The company dominates the Indian market with a 75% market share in primary zinc production and continues to lead with sustainable practices. Recognized by the S&P Global Corporate Sustainability Assessment 2023 as the most sustainable company in the metals and mining sectorHindustan Zinc is also certified as a 2.41 times Water-Positive company. The company is committed to achieving Net Zero emissions by 2050further demonstrating its pivotal role in supporting the global energy transition and ensuring a sustainable future.