Hindustan Zinc Limited (HZL), a prominent player in the Indian mining sector, has announced a significant change in its board composition. The company has appointed Mr. Ashim Kumar Modi as a part-time Official Director, replacing Mr. Ashish Chatterjee with immediate effect.

Key Details of the Appointment

Background of the New Director

Mr. Ashim Kumar Modi currently serves as the Joint Secretary & Financial Advisor (AS&FA) at the Ministry of Coal. In addition to this role, he holds additional charge for the Ministry of Mines and the Ministry of Minority Affairs. This diverse portfolio suggests that Modi brings a wealth of experience in government financial operations and policy-making to his new position on the HZL board.

Departure of Previous Director

The appointment coincides with the cessation of Mr. Ashish Chatterjee's tenure as AS&FA and Government Nominee Director on the Hindustan Zinc board. Chatterjee's role officially ended on October 10, 2025, as communicated by the Ministry of Mines.

Regulatory Compliance

Hindustan Zinc Limited has promptly disclosed this board change in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both the BSE Limited and the National Stock Exchange of India Limited about this development.

Next Steps

HZL has stated that it is in the process of completing the necessary formalities related to this board change. The company has committed to submitting further disclosures as required in due course.

This board reshuffle represents a continuation of the government's involvement in the strategic direction of Hindustan Zinc Limited, a company of significant importance in India's mining and metals sector.

In a significant development for the precious metals market, Multi Commodity Exchange (MCX) silver contracts have surged to unprecedented levels, potentially impacting major silver producers like Hindustan Zinc .

Record-Breaking Silver Prices

The MCX silver futures market witnessed a remarkable rally, with contracts reaching new all-time highs:

• The March contract touched an astounding Rs 130,000.00 per kg
• The December contract climbed to Rs 128,612.00 per kg

This surge in silver prices on the MCX reflects a broader trend in the global precious metals market, signaling strong demand and bullish sentiment for silver.

Implications for Hindustan Zinc

As one of India's leading integrated producers of zinc and silver, Hindustan Zinc stands to potentially benefit from this uptrend in silver prices. The company, known for its silver refinery at Pantnagar, Uttarakhand, is likely to see increased interest from investors and market analysts in light of these developments.

While the direct impact on Hindustan Zinc's financials remains to be seen, the surge in silver prices could potentially:

• Boost the company's revenue from its silver production segment
• Enhance the overall valuation of its silver reserves
• Attract increased investor attention to its silver-related operations

Market Outlook

The record-breaking prices of MCX silver contracts suggest a robust outlook for the silver market. Factors such as industrial demand, investment appeal, and global economic conditions may be contributing to this bullish trend.

Investors and industry observers will be keenly watching how sustained this price rally is and its broader implications for silver producers like Hindustan Zinc. As always, market participants are advised to conduct thorough research and consider various factors before making investment decisions based on commodity price movements.

Hindustan Zinc, with its significant presence in the silver market, is well-positioned to navigate these market dynamics. Stakeholders will likely be eager to see how the company leverages this potentially favorable market condition in its upcoming operational and financial reports.