Vedanta Ltd. announced its operational results for Q3FY’22 recently. Total iron ore production for the quarter was recorded at 1.2 million tonnes (mn t), the total material being mined entirely from the company’s Karnataka mines, as the mines in Goa remain out of operation following a 2018 Supreme Court banning mining in that state.
Vedanta’s iron ore production witnessed a significant decline of 14% as against 1.4 mn t in Q3FY’21.
On a quarterly basis, total output decreased only marginally by 4% compared to 1.3 mn t in Q2FY’22.
Key highlights:
- Production from Karnataka fell 14% on year in Q3FY’22, while the same decreased by 4%, q-o-q, due to the impact on operations because of heavy rainfall in Q3FY’22.
- There was no production from the Goa mines due to the continuation of the suspension of mining pursuant to the Supreme Court judgment dated 7 Feb’18, which directed all mining companies to stop operations in Goa with effect from 16 Mar’18.
- Total iron ore sales were recorded at 1.6 mn t in Q3FY’22, down 10%, y-o-y, compared to 1.78 mn t in Q3FY’21.
- The company’s pig iron production stood at 202,000 t in Q3FY’22, higher by 39% y-o-y compared to 145,000 t in Q3FY’21 due to better operational capacity of furnace post relining.
- Total saleable steel production in Q3FY’22 was at 350,000 t, a marginal y-o-y rise of 3% compared with 340,000 t in Q3FY’21. Output rose by 20%, q-o-q, as against 293,000 t in Q2FY’22 owing to capital repairs at its blast furnace in Aug’21.
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