The Vedanta-owned company is the largest producer of zinc-lead and silver in the country.
“Hindustan Zinc, one of India’s most valuable companies in the metals & minerals sector, already produces zinc and silver, two critical metals which will see ever increasing demand given their use in new, emerging technologies in addition to the traditional demand,” chairperson Priya Agarwal Hebbar told shareholders at the company’s annual general meeting on Monday.
As the world looks to move to cleaner technologies, the development of climate-friendly technologies will be mineral-intensive, she said.
Last month, the company signed a pact with US-based AEsir Technologies for the development of next-generation zinc-based batteries. Hindustan Zinc will be a preferred supplier of zinc for these batteries, which can deliver higher power at lower costs, and also have higher lifespan with minimal maintenance.
“While Lithium batteries are currently in focus, lack of domestic availability of lithium and safety of lithium batteries are key challenges for the global energy transition,” chief executive officer Arun Misra said on Monday. “Zinc presents a safe, stable and credible opportunity to replace lithium in batteries.”
The company is also exploring research avenues in battery technology with premier academic institutions in India.
Apart from batteries, the company remains positive on the overall demand for both gold and silver.
“Your company, India’s most valuable in the minerals and metals sector, already produces zinc and silver, two metals which will see ever increasing demand given their use in new, emerging technologies along with traditional demand,” Priya Agarwal Hebbar said.
“So much of our country’s infrastructure is yet to be built and we have only seen a fraction of our potential demand for consumer durables like automobiles. Zinc is critical to both,” she said.
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