Korea Zinc in talks with US buyers to supply antimony, chairman says (updated)

Korea Zinc

09/01/2025 08:40

(Adds background, comments from briefing)
       SEOUL, Jan 9 (Reuters) - Korea Zinc  010130.KS  Chairman
Yun B. Choi said on Thursday that it is in preliminary talks
with some U.S. entities to supply antimony, after China's export
ban to the U.S. disrupted the market for the mineral used in
semiconductors.
    Choi told reporters at a briefing that the company was
interested in long-term contracts, and was talking with U.S.
traders and others, without naming any of the entities.
    Antimony prices are set to hit record levels after China
banned exports of the mineral to the United States.
        Beijing's curbs have heightened trade tensions and
intensified a global race to secure critical minerals and loosen
China's dominance in the market.
    Korea Zinc is the world's largest zinc smelter but also
produces about 3,500 tonnes of antimony ingots annually, some of
which is shipped to Japan and the Netherlands.
    Korea Zinc produces zinc, lead, copper, nickel and other
metals with its own technology in South Korea and with supply
chains that "do not involve China in any critical way", Choi
said.
        That is expected to be an advantage over the next few
years even if incoming U.S. President Donald Trump changes the
Inflation Reduction Act (IRA), Choi said.
    He expects the market for zinc refining to be its "worst"
historically in 2025 due to tight ore supply and said Korea Zinc
may be the only smelter making money from zinc.
    Korea Zinc plans a special shareholders' meeting on Jan. 23
to discuss the appointment of directors proposed by Young Poong 
 000670.KS  and private equity firm MBK Partners, which hold the
largest stake in Korea Zinc, amid an escalating fight for
control of the company.

 (Reporting by Joyce Lee; Editing by Sam Holmes)
 ((joyce.lee@tr.com;))