Vedanta Q2 zinc and iron ore production up

Reuters reported that Indian focused mining group Vedanta Resources Plc posted a 15.6% rise in Q2 output of refined zinc and a 27.3% increase in iron ore its 2 most important minerals. The London listed firm said that refined zinc production rose to 141,000 tonnes in the 3 months to end September while saleable iron ore output gained to 3.26 million tonnes. In the Q1, zinc accounted for 44% of earnings before interest, tax, depreciation and amortization and iron ore for 24%. A statement said that "Production in the Q2 was broadly in line with our expectations. Our zinc, copper and aluminium operations in India operated at their rated capacity whilst our iron ore business performed well considering the seasonal monsoons. It said that output of copper cathodes in India rose 12.4% to 91,000 tonnes while in Zambia it fell 5.4% to 35,000 tonnes following the planned shutdown of the Nchanga smelter for maintenance. In July, Vedanta said that Q1 core earnings more than halved despite higher production after a sharp decline in metals prices. (Sourced from Reuters)