London Bullion Market Association Renews Certification for Hindustan Zinc’s Silver Refinery

Amidst the ongoing silver price rally globally, Hindustan Zinc Limited (NSE: HINDZINC), India’s largest and the world’s third-largest silver producer, has received renewed certification of Responsible Silver Guidance for its Pantnagar Metal Plant from the prestigious London Bullion Market Association (LBMA). This certification is a hallmark of the company’s adherence to international quality standards for producing 99.99% pure silver and ensuring responsible sourcing of raw materials. With this achievement, Hindustan Zinc joins an exclusive list of 80 global silver refiners recognized by the LBMA's Good Delivery List.

In FY24, Hindustan Zinc produced a record 746 metric tonnes of silver, securing its position as the world’s third-largest silver producer, as confirmed by the World Silver Survey 2024 conducted by The Silver Institute, USA. The renewal of this certificate accredits Hindustan Zinc’s silver products - including 30 kg bars, 1 kg bars, and silver powder—meeting international standards for global trading. As India’s sole silver producer, Hindustan Zinc is well-positioned to meet the rising domestic demand, producing pure-quality silver for the country through world-class assets like the Sindesar Khurd Mine in Rajasthan, the second-largest silver-producing mine globally, and the Pantnagar Metal Plant in Uttarakhand.

This international certification is a testament to Hindustan Zinc’s operational excellence and its commitment to producing silver bars and powders that meet global standards. The rigorous LBMA assessment encompassing stringent audits and evaluations highlighted the Pantnagar Metal Plant’s strong performance across responsible sourcing, production procedures, due diligence, sustainability parameters, and innovation. This recognition affirms Hindustan Zinc’s advanced manufacturing practices and green innovations, ensuring sustainability throughout the silver value chain.

Commenting on Hindustan Zinc’s focus on quality, Arun Misra, CEO of Hindustan Zinc, stated, “We are thrilled with the renewal of our LBMA certification for our Silver Refinery in Pantnagar. Being part of the LBMA’s Good Delivery List reaffirms our commitment to producing high-quality silver while adhering to global standards. We remain bullish on silver on the back of the emerging industrial and consumer demand. As India’s sole silver producer from primary sources, we believe that establishing a separate silver company through demerger will unlock value for all stakeholders and support long-term growth by focusing on its core strength.”

Silver, renowned for its luster and versatility, is indispensable across various industries—from solar energy applications to high-tech electronics, AI, nanotechnology, biotechnology, as well as jewelry and silverware. The growing demand for silver, especially in emerging sectors like transportation, healthcare, consumer electronics, and renewable energy, is driving global demand. Silver is a critical metal in the global energy transition, especially in solar power generation, where its superior electrical conductivity makes it essential for solar panels. The electric vehicle sector and advanced technologies such as touchscreens, circuits, and connectors also promise increased demand for silver.

Hindustan Zinc’s silver production has increased more than 15 times in the last two decades, and in Q2 of the current fiscal year, the company reported a 10% increase in silver output. This overall growth is driven by enhanced ore extraction and the implementation of advanced refining techniques.

Hindustan Zinc, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company holds a market share of about 75% of the primary zinc market in India and is India’s only primary producer of silver. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category by the S&P Global Corporate Sustainability Assessment 2023, reflecting its operational excellence, innovation and leading ESG practices. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. As a world leader in the metals and mining industry, Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future.