India’s Hindustan Zinc plans silver boost to meet solar demand –

August 9 – Indian lead, zinc and silver producer Hindustan Zinc Ltd (BOM:500188) plans to double its silver production in five years in response to growing demand from solar manufacturers, the company’s head told Reuters today.

The plans are also supported by rising global silver prices amid safe-haven demand from investors.

Hindustan Zinc, a subsidiary of mining group Vedanta Ltd (BOM:500295), expects to produce 500 tonnes of silver in the current fiscal year through March and to boost output by fiscal 2022 to 1,000 tonnes, Sunil Duggal was cited as saying. The Hindustan Zinc chief executive told the news agency that opportunities were emerging for silver demand in India and solar panel manufacturing was a major among them. According to analyst estimates, some 40 tonnes of silver are needed to produce 1 GW of solar panels, Reuters said.

India has a goal of reaching 100 GW of solar capacity by 2022.

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