Source - RNS
RNS Number : 0820M
Vedanta Resources PLC
10 October 2016
 

Vedanta Resources plc

16 Berkeley Street

London W1J 8DZ

Tel: +44 (0) 20 7499 5900

Fax: +44 (0) 20 7491 8440

www.vedantaresources.com 

 

 

10th October 2016

Vedanta Resources Plc

 Production Release for the Second Quarter

And Half Year Ended 30th September 2016

 

Q2 Highlights

 

Operations

 

·    Oil & Gas:

§ Strong production at Rajasthan, with Mangala EOR 23% higher q-o-q

§ Gas production at Rajasthan up 17% q-o-q

·    Zinc India:

§ Mined metal production up 51% and silver production up 21% q-o-q

§ H2 production expected to be significantly higher than H1, as per the mine plans

·    Aluminium:

§ Smelters continue to ramp up, with current production run-rate of 1.1 mtpa (excluding trial run production); ramp-up was impacted by pot outages at Jharsuguda-II and BALCO-II smelters in Q2

§ Secured coal linkages of 6mtpa for captive power plants through auctions

·    Iron Ore:

§ Mining and shipments from Goa resumed from end September, following the monsoon season

·    Copper - Zambia:

§ Mined metal production higher q-o-q due to improved recoveries

·    TSPL Power:

§ 1980MW plant fully operational with third 660MW unit capitalized

§ 77% plant availability in Q2 

 

Corporate

 

·    Vedanta Limited - Cairn India merger approved by shareholders; transaction expected to complete in Q1 CY2017

·    Moody's upgraded corporate family rating from B2 to B1; S&P revised its outlook from stable to positive

 

Tom Albanese, Chief Executive Officer, Vedanta Resources plc, said: "We have delivered a strong operational performance during the quarter. We have progressed on our ramp-up of aluminium and though we had some operational challenges, our full year volumes are not expected to be materially impacted. We achieved higher mined metal production at Zinc India and this upward trend is expected to continue in the second half. We are extremely pleased that shareholders have approved the proposed Vedanta Limited - Cairn India merger last month, and we expect the transaction to complete in the first quarter of CY2017. This is an important strategic step in simplifying the Group."

 

Oil & Gas

 

 

Q2

Q1

H1

Particulars

FY2017

FY2016

% change YoY

FY2017

% change QoQ

FY2017

FY2016

% change YoY

OIL AND GAS

 

 

 

 

 

 

 

 

Average Daily Total Gross Operated Production  (boepd) 1

206,230  

 214,247

(4)%

206,455

0%

206,342  

216,081

(5)%

Average Daily Gross Operated Production (boepd)

196,399

 205,361

(4)%

196,861

0%

 196,629

207,538

(5)%

   Rajasthan

 167,699

 168,126

0%

166,943

0%

 167,323

170,164

(2)%

   Ravva

 18,823

 26,064

(28)%

 19,637

(4)%

 19,228

 27,303

(30)%

   Cambay

 9,877

 11,172

(12)%

 10,281

(4)%

 10,078

 10,071

0%

Average Daily Working Interest Production (boepd)

125,575

 128,021

(2)%

125,391

0%

 125,484

 129,286

(3)%

   Rajasthan

117,390

 117,688

0%

116,860

0%

 117,126

119,115

(2)%

   Ravva

4,235

 5,864

(28)%

 4,418

(4)%

 4,326

 6,143

(30)%

   Cambay

3,951

 4,469

(12)%

 4,113

(4)%

 4,031

 4,028

0%

Total Oil and Gas (million boe)

 

 

 

 

 

 

 

 

   Oil & Gas- Gross

18.07

 18.89

(4)%

 17.91

1%

 35.98

 37.98

(5)%

   Oil & Gas-Working Interest

11.55

 11.78

(2)%

 11.41

1%

 22.96

 23.66

(3)%

 

Q2 FY2017 vs. previous quarters

 

Average gross production was stable at 196,399 barrels of oil equivalent per day (boepd) during the quarter. A strong performance by Mangala EOR helped maintain production from Rajasthan. Continued reservoir management practices and targeting incremental opportunities helped in sustaining production rates at Ravva and Cambay.

 

Gross production from Rajasthan was marginally higher q-o-q at 167,699 boepd. Encouraging results from the Mangala EOR, driven by enhanced well productivity and new wells coming online, increased the EOR contribution to production from c.42 kboepd in Q1 FY2017 to c.52 kboepd in Q2 FY2017. Production optimization and maximization of liquid handling capacity helped maintain strong performance from Bhagyam and Aishwariya. Gross production from Development Area-1 and Development Area-2 averaged 151,880 boepd and 15,820 boepd, respectively.

 

Gas production from the RDG field also increased to 33 mmscfd from 28 mmscfd in Q1 FY2017, aided by superior initial well productivity results obtained from the hydro-frac campaign.

 

The Ravva and Cambay fields delivered gross production of 28,700 boepd, slightly lower q-o-q. Ravva witnessed softening of production with volumes averaging at 18,823 boepd. Efforts continued to sustain production rates by targeting incremental opportunities such as optimization of gas lifted wells, addition of new zones, network optimization and water shut-off by zone isolations, aided in arresting the natural decline rates. Production from Cambay was at 9,877 boepd as effective reservoir management practices and production optimization measures helped in reducing the impact of natural decline.

 

H1 FY2017 vs. H1 FY2016

 

Average gross production across assets was at 196,629 boepd. Production from the Rajasthan asset was broadly stable at 167,323 boepd aided by positive results from the Mangala EOR after its successful stabilization, and in-line performance from Bhagyam and Aishwariya. RDG gas production has increased from an average of 25 mmscfd in H1 FY2016 to 30 mmscfd in H1 FY2017. Production from both the offshore assets together was at 29,305 boepd, lower by c.22% y-o-y, primarily due to the natural decline.

 

Zinc-India

 

Particulars

Q2

Q1

H1

FY2017

FY2016

% change YoY

FY2017

% change QoQ

FY2017

FY2016

% change YoY

Zinc India (in '000 tonnes, or as stated)

 

 

 

 

 

 

 

 

   Mined metal content

 192

 240

(20)%

 127

51%

 318

 472

(33)%

   Refined Zinc - Total

 150

 211

(29)%

 102

47%

 252

 398

(37)%

   Refined Zinc - Integrated

 149

 211

(30)%

 101

47%

 250

 398

(37)%

   Refined Zinc - Custom

 1

 -  

-

 1

-

 2

 -  

-

   Refined Lead - Total 2

 31

 40

(24)%

 25

25%

 55

 71

(22)%

   Refined Lead - Integrated

 31

 39

(22)%

 25

25%

 55

 67

(17)%

   Refined Lead - Custom

 -  

 1

-

 -  

-

 -  

 4

-

   Silver - Total  (in mn ounces) 3

 3.45

 3.59

(4)%

 2.85

21%

 6.29

 6.01

5%

   Silver- Integrated (in mn ounces)

 3.45

 3.54

(3)%

 2.85

21%

 6.29

 5.92

6%

   Silver- Custom (in mn ounces)

 -  

 0.05

-

 -  

-

 -  

 0.09

-

 

Q2 FY 2017 vs. previous quarters

 

Mined metal production was 51% higher q-o-q in line with the mine plans. The increase was primarily due to significantly higher production at Rampura Agucha open cast mine compared to Q1, when there was high waste excavation, in accordance with the waste-ore sequence.

 

Refined zinc and lead volumes during the quarter were lower y-o-y and higher q-o-q, in line with the mined metal production.

 

Integrated silver production was up 21% q-o-q as a result of higher volumes from the Sindesar Khurd mine.

 

 

H1 FY2017 vs. H1 FY2016

 

Mined metal production was at 318,000 tonne in H1 FY2017, lower than H1 FY2016 mainly due to lower production from the Rampura Agucha open cast mine as per the mine plan. The combined production from all underground mines in H1 increased by 83% y-o-y, as we transition the Rampura Agucha mine from open pit to underground.

 

Integrated zinc and lead production were lower, in line with mined metal production. Integrated silver production was 6% higher due to higher volumes from the Sindesar Khurd mine, partly offset by lower volumes from Rampura Agucha open cast.

 

 

Zinc - International

 

                 

Q2

Q1

H1

Particulars (in '000 tonnes, or as stated)

FY2017

FY2016

% change YoY

FY2017

% change QoQ

FY2017

FY2016

% change YoY

Zinc International

 39

 63

(38)%

 43

(8)%

 82

 133

(38)%

  Zinc -refined -Skorpion

 23

 17

37%

 24

(2)%

 47

 42

10%

Mined metal content - BMM

 16

 16

2%

 19

(16)%

 35

 31

14%

Mined metal content - Lisheen

 -  

 31

-

 -  

-

 -  

 60

-

 

Q2 FY 2017 vs. previous quarters

 

Total production, excluding production from Lisheen, was up 20% y-o-y. Production including Lisheen was at 39,000 tonnes, lower than the corresponding prior quarter due to the closure of the Lisheen mine in November 2015.

 

Production at Skorpion increased y-o-y on account of higher feed grades and better recoveries. During Q2 FY2016, production at Skorpion had been impacted by shutdowns.  Production at BMM for the quarter was lower sequentially, primarily due to lower feed grades.

 

H1 FY2017 vs. H1 FY2016

 

Total production, excluding Lisheen, was 12% higher than H1 FY2016. Production including Lisheen was at 82,000 tonnes, lower by 38%, mainly due to closure of the Lisheen mine.

 

 

Iron Ore

 

 

Q2

Q1

H1

Particulars (in million dry metric tonnes, or as stated)

FY2017

FY2016

% change YoY

FY2017

% change QoQ

FY2017

FY2016

% change YoY

IRON ORE

 

 

 

 

 

 

 

 

Sales

 0.8

 0.6

25%

 2.6

(70)%

 3.4

 1.2

-

     Goa

 0.3

 -  

-

 2.1

(84)%

 2.4

 -  

-

     Karnataka

 0.5

 0.6

  (27)%

 0.5

(12)%

 1.0

 1.2

(14)%

Production of Saleable Ore

 1.5

 0.8

78%

 3.2

(55)%

 4.7

 1.0

-

     Goa

 0.5

0.0  

-

 2.4

(78)%

 2.9

 0.0

-

     Karnataka

 0.9

 0.8

22%

 0.8

13%

 1.7

 1.0

79%

Production ('000 tonnes)

 

 

 

 

 

 

 

 

     Pig Iron

 192

 150

27%

 181

6%

 372

 320

16%

 

Q2 FY 2017 vs. previous quarters

 

At Goa, production was 0.5 million tonnes and sales were 0.3 million tonnes. Mining activities were lower in Q2, as usual, due to the monsoon season. Mining and shipments have resumed from end September.  

 

At Karnataka, production was 0.9 million tonnes and sales were 0.5 million tonnes. The sales were lower due to lower e-auction sales and dispatches. However, a substantial quantity has been contracted through e-auction in end-Q2, which will be dispatched in Q3.

 

During Q2 FY2017, production of pig iron was 27% higher y-o-y at 192,000 tonnes, mainly due to higher plant availability. Production was higher 6% q-o-q as there was a maintenance shutdown in Q1 FY2017.

 

Our current annual mining allocations are 5.5mt and 2.3mt for Goa and Karnataka, respectively. We are engaged with the respective state governments for increases in these mining allocations.  

 

H1 FY2017 vs. H1 FY2016

 

Production at Goa was 2.9 million tonnes, and sales were 2.4 million tonnes. During Q1, we had ramped up production to a run-rate of 0.8mt per month; production was lower in Q2 due to the monsoon season. At Karnataka, production was 1.7 million tonnes and sales were 1.0 million tonnes. Production of pig iron ramped up from 320,000 in H1 FY2016 to a record production of 372,000 tonnes in H1 FY2017.

 

 

Copper - India

 

 

Q2

Q1

H1

Particulars (in '000 tonnes, or as stated)

FY2017

FY2016

% change YoY

FY2017

% change QoQ

FY2017

FY2016

% change YoY

COPPER- INDIA

 

 

 

 

 

 

 

 

  Copper - Cathodes

 97

 94

3%

 100

(3)%

 198

 193

3%

  Tuticorin Power Sales (MU)

 30

 118

(75)%

 60

(50)%

 90

 293

(69)%

 

Q2 FY 2017 vs. previous quarters

 

Production from the Tuticorin smelter was 97,000 tonnes, marginally lower q-o-q. During the quarter, production was affected by an unplanned outage for ten days due to a boiler leakage at the smelter. 

 

The 160 MW power plant at Tuticorin operated at a low Plant Load Factor (PLF) of 48% during Q2 FY2017 (against 76% in Q2 FY2016 and 60% in Q1 FY2017). PLF was lower during the quarter due to low offtake from Telangana State Electricity Board (TSEB) owing to the extended monsoon season and weaker power demand in the region.

 

We have entered into a contract with the TSEB for power supply from June 2016 to May 2017 following the completion of the sales contract with the Tamil Nadu Electricity Board (TNEB). We are entitled to compensation at 20% of the contracted rate for off-take below 85% of the contracted quantity. 

 

H1 FY2017 vs. H1 FY2016

 

Production in H1 FY2017 was marginally higher at 198,000 tonnes of cathodes. The 160MW power plant at the Tuticorin operated at a PLF of 54% in H1 FY2017 compared to 85% in H1 FY2016, primarily due to lower off-take from TNEB and TSEB.

 

Copper - Zambia

 

 

Q2

Q1

H1

Particulars (in '000 tonnes, or as stated)

FY2017

% change YoY

FY2017

% change QoQ

FY2017

% change YoY

COPPER -ZAMBIA

 

 

 

 

 

 

 

 

Mined metal

 29

 33

(12)%

 29

2%

 58

 62

(7)%

Copper - Total

 47

 47

(1)%

 45

6%

 92

 90

2%

  Integrated

 28

 32

(15)%

 28

0%

 55

 60

(8)%

  Custom

 19

 15

29%

 17

15%

 36

 30

22%

 

Q2 FY 2017 vs. previous quarters

 

Mined metal production was at 29,000 tonnes, 2% higher than Q1 ,primarily due to improved recoveries. Mined metal production was lower by 12% y-o-y, mainly due to lower production from the Nchanga underground mine which was placed on care and maintenance in Q3 FY2016 and one-off equipment constraints at Konkola.

 

Production from the Konkola underground mine was impacted by lower trackless equipment availability. At the Tailings Leach Plant, production was lower by 10%
y-o-y due to throughput constraints at the mill and lower feeds from current tails.

 

Custom volumes at 19,000 tonnes, were 29% higher on a y-o-y basis and 15% higher
q-o-q, due to higher concentrate availability and higher grades. The biennial planned shutdown at the smelter scheduled for 40 days has commenced on 26 September 2016. Following this shutdown, the feed-rate is expected to increase from 70 to more than 80 tonnes per hour. This shutdown has partially impacted custom production in September.

 

H1 FY2017 vs. H1 FY2016

 

Mined metal production was 58,000 tonnes in H1 FY2017, 7% lower y-o-y, and integrated volume was 55,000 tonnes, lower compared to mined metal due to an increase in the concentrate inventory. Custom volumes were at 36,000 tonnes, 22% higher compared to H1 FY2016.

 

Aluminium

 

 

Q2

Q1

H1

Particulars (in '000 tonnes, or as stated)

FY2017

FY2016

% change YoY

FY2016

% change QoQ

FY2017

FY2016

% change YoY

Aluminium

 

 

 

 

 

 

 

 

Alumina-Lanjigarh

 292

 272

8%

 275

6%

 567

 541

5%

Total Aluminium Production

 296

 233

27%

 244

21%

 541

 464

17%

     Jharsuguda-I

 132

 130

1%

 129

2%

 261

 262

0%

     Jharsuguda-II 4

 48

 19

-

 28

70%

 77

 38

-

    BALCO-I

 63

 65

(3)%

 63

(1)%

 126

 127

(1)%

    BALCO-II 5

 52

 19

-

 24

-

 77

 37

-

BALCO 270 MW 6

 -  

 -  

 -  

 -  

 -  

 -  

 -  

 -  

Jharsuguda 1800 MW (Surplus

Power Sales in Million Units) 6

 156

 -  

-

 355

(56)%

 511

 -  

-

 

Q2 FY 2017 vs. previous quarters

 

We achieved record quarterly production of 296,000 tonnes of aluminium in Q2, with an exit run-rate of 1.1 mtpa (excluding trial run production) in September 2016.  

 

The commissioning of pots at the first line of the 1.25 mtpa Jharsuguda-II aluminium smelter was completed at the end of July 2016. However, this line was impacted by a power outage in early August, following which 168 pots were taken out of production. The impacted pots are currently being rectified, and 10 pots have re-started in early October 2016.

 

The commissioning of the second line of Jharsuguda-II commenced in July, with 158 pots having been commissioned till date, and the balance pots continuing to be commissioned. The third line of the Jharsuguda-II smelter will commence ramp-up from the second half of October 2016, ahead of the earlier plan of Q4 FY2017.

 

The BALCO-II smelter was commissioned, with all 336 pots operational in August. However, there was a technical issue in early September, due to which 167 pots were taken out of production. The rectification work is in progress and these pots are expected to be re-started by Q4 FY2017. The rolled product facility at BALCO, which was temporarily shut-down in Q2 FY2016, is beginning to restart operations, and produced 5,000 tonnes during the quarter.

 

The second stream of the Lanjigarh alumina refinery, which was temporarily closed in Q2 FY2016, recommenced operations in Q1 FY2017. The two streams produced 292,000 tonnes of alumina in Q2, 6% higher than Q1. The exit run-rate for the quarter for alumina production was 1.2 mtpa.

 

Power sales from the 1,800 MW Jharsuguda power plant was lower due to a weak power market. However, the PLF's will continue to increase as we ramp up the Jharsuguda-II smelter.

 

We expect to produce 1.4 mtpa of Alumina and 1.1 mtpa of Aluminium (excluding trial run production) in FY2017.

 

H1 FY2017 vs. H1 FY2016

 

Aluminium production was a record at 541,000 tonnes in H1, 17% higher y-o-y, mainly on account of ramp-up of the Jharsuguda-II and BALCO-II smelters. Alumina production was 5% higher at 567,000 tonnes due to the recommencement of the second stream of the Lanjigarh refinery from 1st April 2016.

 

 Power

 

 

Q2

Q1

H1

Particulars (in million units)

FY2017

FY2016

% change YoY

FY2017

% change QoQ

FY2017

FY2016

% change YoY

Power

 

 

 

 

 

 

 

 

Total Power Sales

 3,030

 2,718

nm

 3,010

1%

 6,039

 5,789

nm

  Jharsuguda 600 MW6

 605

 1,554

nm

 892

(32)%

 1,497

 3,820

nm

   BALCO 600 MW

 549

 158

-

 607

(9)%

 1,156

 158

-

   MALCO

 25

 127

(80)%

 90

(72)%

 115

 320

(64)%

   HZL Wind Power

 172

 158

9%

 148

16%

 320

 286

12%

   BALCO 270 MW 6

 -  

 28

-

 -  

-

 -  

 128

-

   TSPL

 1,679

 693

-

 1,272

32%

 2,951

 1,077

-

   TSPL - Availability

77%

86%

-

72%

-

75%

71%

-

 

 



Q2 FY 2017 vs. previous quarters

 

Total power sales were higher y-o-y due to the commissioning of additional units at TSPL and BALCO over the last year.

 

Power sales from TSPL were significantly higher during the quarter. The third 660MW unit at TSPL achieved Commercial Operation Date (COD) on 24th August 2016 and was capitalized on 1st September 2016. In Q2 FY2017, all three units operated at an availability of 77% (considering the third unit from 1st September), higher q-o-q mainly due to a statutory shutdown at one of the units, in the previous quarter. The Power Purchase Agreement with the Punjab State compensates us based on the availability of the plant.

 

The Jharsuguda 600MW power plant operated at a lower Plant Load Factor (PLF) of 50% in Q2 FY2017 (PLF 60% in Q2 FY2016, 74% in Q1 FY2017) due to power evacuation constraints.

 

The 600 MW BALCO IPP units (2x300MW) operated at a PLF of 54% in Q2 due to weak power market.

 

The MALCO power plant operated at a lower PLF of 20% in Q2 FY2017 (61% in Q2 FY 2016 and 44% in Q1 FY2017) due to lower offtake from Telengana State Electricity Board (TSEB). We have entered into a contract with TSEB for power supply from  June 2016 to May 2017, following the completion of the sales contract with the Tamil Nadu Electricity Board. However, we are entitled to compensation at 20% of the contracted rate for off-take below 85% of the contractual quantity. 

 

H1 FY2017 vs. H1 FY2016

 

During H1 FY2017, power sales were higher compared to H1 FY2016 due to commissioning of additional units at the TSPL and BALCO power plants.

 

 

 

 

Production Summary (Unaudited)

                                                                                                                                                   (in '000 tonnes, except as stated)

Particulars

Q2

Q1

H1

FY 2017

FY 2016

% Change YoY

FY 2016

% Change QoQ

FY 2017

FY 2016

% Change YoY

OIL AND GAS

 

 

 

 

 

 

 

 

Average Daily Total Gross Operated Production  (boepd)1

206,230  

214,247

(4)%

206,455

0%

206,342  

216,081

(5)%

Average Daily Gross Operated Production (boepd)

196,399

205,361

(4)%

196,861

0%

196,629

207,538

(5)%

   Rajasthan

167,699

168,126

0%

166,943

0%

167,323

170,164

(2)%

   Ravva

 18,823

 26,064

(28)%

 19,637

(4)%

 19,228

 27,303

(30)%

   Cambay

 9,877

 11,172

(12)%

 10,281

(4)%

 10,078

 10,071

0%

Average Daily Working Interest Production (boepd)

125,575

128,021

(2)%

125,391

0%

125,484

129,286

(3)%

   Rajasthan

117,390

117,688

0%

116,860

0%

117,126

119,115

(2)%

   Ravva

 4,235

 5,864

(28)%

 4,418

(4)%

 4,326

 6,143

(30)%

   Cambay

 3,951

 4,469

(12)%

 4,113

(4)%

 4,031

 4,028

0%

Total Oil and Gas (million boe)

 

 

 

 

 

 

 

 

   Oil & Gas- Gross

 18.07

 18.89

(4)%

 17.91

1%

 35.98

 37.98

(5)%

   Oil & Gas-Working Interest

 11.55

 11.78

(2)%

 11.41

1%

 22.96

 23.66

(3)%

Zinc India

 

 

 

 

 

 

 

 

   Mined metal content

 192

 240

(20)%

 127

51%

 318

 472

(33)%

   Refined Zinc - Total

 150

 211

(29)%

 102

47%

 252

 398

(37)%

   Refined Zinc - Integrated

 149

 211

(30)%

 101

47%

 250

 398

(37)%

   Refined Zinc - Custom

 1

 -  

-

 1

-

 2

 -  

-

   Refined Lead - Total 2

 31

 40

(24)%

 25

25%

 55

 71

(22)%

   Refined Lead - Integrated

 31

 39

(22)%

 25

25%

 55

 67

(17)%

   Refined Lead - Custom

 -  

 1

-

 -  

-

 -  

 4

-

   Silver - Total  (in mn ounces) 3

 3.45

 3.59

(4)%

 2.85

21%

 6.29

 6.01

5%

   Silver- Integrated (in mn ounces)

 3.45

 3.54

(3)%

 2.85

21%

 6.29

 5.92

6%

   Silver- Custom (in mn ounces)

 -  

 0.05

-

 -  

-

 -  

 0.09

-

Zinc International

 39

 63

(38)%

 43

(8)%

 82

 133

(38)%

   Zinc -Refined -Skorpion

 23

 17

37%

 24

(2)%

 47

 42

10%

   Mined metal content - BMM

 16

 16

2%

 19

(16)%

 35

 31

14%

   Mined metal content - Lisheen

 -  

 31

-

 -  

 

 -  

 60

-

IRON ORE (in million dry metric tonnes, or as stated) 

 

 

 

 

 

 

 

 

Sales

 0.8

 0.6

25%

 2.6

(70)%

 3.4

 1.2

-

   Goa

 0.3

 -  

-

 2.1

(84)%

 2.4

 -  

-

   Karnataka

 0.5

 0.6

(27)%

 0.5

(12)%

 1.0

 1.2

(14)%

Production of Saleable Ore

 1.5

 0.8

78%

 3.2

(55)%

 4.7

 1.0

-

   Goa

 0.5

0.0 

-

 2.4

(78)%

 2.9

 0.0

-

   Karnataka

 0.9

 0.8

22%

 0.8

13%

 1.7

 1.0

79%

   Pig Iron

 192

 150

27%

 181

6%

 372

 320

16%

 

 

Particulars

Q2

Q1

H1

FY 2017

FY 2016

% Change YoY

FY 2017

% Change QoQ

FY 2017

FY 2016

% Change YoY

COPPER - INDIA

 

 

 

 

 

 

 

 

  Copper -  Cathodes

 97

 94

3%

 100

(3)%

 198

 193

3%

  Tuticorin Power Plant Sales (MU)

 30

 118

(75)%

 60

(50)%

 90

 293

(69)%

COPPER - ZAMBIA

 

 

 

 

 

 

 

 

  Mined metal

 29

 33

(12)%

 29

2%

 58

 62

(7)%

Copper - Total

 47

 47

(1)%

 45

6%

 92

 90

2%

  Integrated

 28

 32

(15)%

 28

0%

 55

 60

(8)%

  Custom

 19

 15

29%

 17

15%

 36

 30

22%

ALUMINUM

 

 

 

 

 

 

 

 

  Alumina-Lanjigarh

 292

 272

8%

 275

6%

 567

 541

5%

Total Aluminum Production

 296

 233

27%

 244

21%

 541

 464

17%

  Jharsuguda-I

 132

 130

1%

 129

2%

 261

 262

0%

  Jharsuguda-II 4

 48

 19

-

 28

70%

 77

 38

-

  BALCO-I

 63

 65

(3)%

 63

(1)%

 126

 127

(1)%

  BALCO-II 5

 52

 19

-

 24

-

 77

 37

-

  BALCO 270 MW6

 -  

 -

-

 -  

-

 -  

 -

-

  Jharsuguda 1800 MW (Surplus Power Sales)

 156

 -  

-

 355

(56)%

 511

 -  

-

POWER (in million units)

 

 

 

 

 

 

 

 

Total Power Sales

 3,030

 2,718

nm

 3,010

1%

 6,039

 5,789

nm

  Jharsuguda 600 MW 6

 605

 1,554

nm

 892

(32)%

 1,497

 3,820

nm

  BALCO 600 MW

 549

 158

-

 607

(9)%

 1,156

 158

-

  MALCO

 25

 127

(80)%

 90

(72)%

 115

 320

(64)%

  HZL Wind Power

 172

 158

9%

 148

16%

 320

 286

12%

  BALCO 270 MW6

 -  

 28

-

 -  

-

 -  

 128

-

  TSPL

 1,679

 693

-

 1,272

32%

 2,951

 1,077

-

  TSPL - availability

77%

86%

-

72%

-

75%

71%

-

Ports - VGCB (in million tonnes) 7

 

 

 

 

 

 

 

 

  Cargo Discharge

 1.3

 2.1

(40)%

 1.6

(21)%

2.9

 3.6

(21)%

  Cargo Dispatches

 1.5

2.1

(30)%

 1.5

(1)%

 3.0

 3.8

(21)%

 

1.         Including Internal Gas consumption

2.         Excluding Captive consumption of  837 tonnes in Q2 FY 2017 vs 1,514 tonnes in Q2 FY 2016 and 1,921 tonnes in H1 FY 2017 vs 3,697 tonnes in H1 FY 2016

3.         Excluding Captive consumption of 1,39,000 ounces in Q2 FY 2017 vs 2,51,000 ounces in Q2 FY 2016 and 3,16,000 ounces in H1 FY 2017 vs 6,13,000 ounces in H1 FY 2016

4.         Including trial run production of   19 kt in Q2 FY 2017 vs 19 kt in Q2 FY 2016 and 29 kt in H1 FY2017 vs 38 kt in H1 FY 2016

5.         Including trial run production of 22 kt in Q2 FY2017 and 28 kt in H1 FY 2017

6.         Jharsuguda 1,800MW and BALCO 270 MW have been moved from the Power to the Aluminum segment from 1st April 2016

7.         Vizag General Cargo Berth

 

 

 

 

 

 

For further information, please contact:

Communications

 

Roma Balwani

President - Group Communications, Sustainability

and CSR

Tel: +91 22 6646 1000

[email protected]

 

Investors

 

Ashwin Bajaj

Director - Investor Relations

 

Radhika Arora

Associate General Manager - Investor Relations

 

Ravindra Bhandari

Manager - Investor Relations

Finsbury

 

Daniela Fleischmann

Tel:  +44 20 7251 3801

[email protected]

 

 

 

 

 

Tel:  +91 22 6646 1531

[email protected]

 

 

About Vedanta Resources plc

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces Aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. For more information, please visit www.vedantaresources.com.

 

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCGUBDGCXBBGLG

Related Charts

Vedanta Resources (VED)

+6.25p (+0.67%)
delayed 09:35AM