Vedanta group firm Hindustan Zinc today said domestic silver market will remain bullish on account of digital wave, solar power generation and upcoming electric vehicle market.
"In the domestic market, silver will remain bullish due to the digital wave, solar power generation and upcoming electric vehicle market," Hindustan Zinc Ltd (HZL) said in a statement.
Silver is used in industrial applications like manufacture of semiconductors, solar PV cells and batteries.
HZL produced 556 tonnes of silver in 2017-18. The company sells silver in the form of 30 kg bars.
The company is aiming to produce 1,000 tonnes of silver in the next 3-4 years to figure among top five global silver producers.
According to the World Silver Survey report 2018, Hindustan Zinc was the 10th largest silver producing company globally in 2017.
HZL said its silver refinery at Pantnagar in Uttarakhand has been added to London Bullion Market Association's (LBMA) London Good Delivery list for silver with effect from April 16.
The LBMA is an international trade association that represents the wholesale over-the-counter market for gold and silver bullion.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app