Hindustan Zinc, a Vedanta group company, has raised silver prices by Rs 640 to Rs 20,750 a kilo gram, effective February 10, 2009. The prices, however, are exclusive of sales tax/VAT and other statutory levies as applicable.
The company is planning to open a silver refinery plant at the Pantnagar industrial estate in Uttarakhand with an investment of Rs 100 crore. The capacity of the new plant is expected to be around 300 tonnes per year and is likely to be into operational by the end of next fiscal. The company already has one unit in the state at the Haridwar integrated industrial area to produce zinc ingots.
President of India has appointed G Srinivas, Director, Ministry of Mines as government nominee director on Hindustan Zinc’s board, with immediate effect. Earlier A K Singh held the mentioned position in the company.