SEOUL, South Korea , Feb. 6, 2025
/PRNewswire/ -- As U.S.-China
trade tensions escalate into export controls on rare metals,
Korea Zinc's (KRX:010130) role
in maintaining supply chain stability for critical minerals has
gained further strategic importance.
On February 4, China announced that it would be immediately
implementing export controls on five key metals, namely tungsten,
molybdenum, indium, bismuth, and tellurium, used for defense, clean
energy and in several other industries, just minutes after
President Donald Trump's additional
10% tariff on Chinese goods came into effect.
The rising tensions have highlighted the importance of
establishing a more resilient supply chain for critical metals.
Korea Zinc, as South Korea's sole
producer of Indium, Bismuth, and Tellurium, which make up three of
the five metals subject to the export controls, has found itself in
a unique position to address these concerns.
Korea Zinc annually produces 150 tons of Indium, which makes up
about 11% of the total global demand of 1,400 tons. Indium is
highly sought after as it is used in a wide variety of alloys such
as Indium tin oxide (ITO) for monitors and touchscreens, and other
uses such as solar panels and LEDs. The smelter also annually
produces 900-1,000 tons Bismuth, and 100-200 tons of Tellurium.
In addition to these three metals, Korea Zinc annually produces
an approximate total of 120 million tons of 10+ non-ferrous metals.
The company produces these rare metals by extracting them with its
leading proprietary technology during the smelting process of zinc
and lead concentrates sourced from global mines.
A Korea Zinc spokesperson stated, "Given that some critical
metals are produced by only a few countries, Korea Zinc's role in
establishing a more stable supply chain is crucial. We continue to
provide stable supply to domestic industries despite global
shortages. Korea Zinc has anticipated the importance of global rare
metals and has consistently increased production."
The company demonstrated this capability during China's antimony export controls in
September 2024, maintaining stable
domestic supply through its advanced production capabilities.
Korea Zinc is currently looking to replicate this initiative by
increasing production for Indium, Bismuth, and Tellurium in
South Korea first, as current
Chinese import dependency rates for them in South Korea are notably high. South Korea currently relies on 92.8%, 95.8%,
and 61.2% of Indium, Bismuth, and Tellurium respectively.
About Korea Zinc:
Korea Zinc is a global leader in non-ferrous metal smelting and
refining, processing materials from worldwide mines to produce
essential metals and rare elements crucial for high-tech
industries. The company's unique technological advantage in
recovering valuable metals from production byproducts has
established it as a world leader in the
field.
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SOURCE Korea Zinc
