• 55 mins Oil Prices Inch Higher After Surprise Crude Draw
  • 2 hours Kuwait Greenlights Game-Changing Gas Fields Project After Years of Delay
  • 2 hours Minnesota Begins Public Hearings On Enbridge Line 3 Project
  • 3 hours China Looks To Create National Natural Gas Pipeline Firm
  • 3 hours Total Not In A Rush To Sell Canadian Oil Sands Assets
  • 4 hours DOE Seeks To Boost Usage Of Carbon Capture Tech
  • 5 hours Taxpayers Likely To Pick Up The Growing Tab For DAPL Protests
  • 7 hours WTI At 7-Month High On Supply Optimism, Kurdistan Referendum
  • 14 hours Permian Still Holds 60-70 Billion Barrels Of Recoverable Oil
  • 19 hours Petrobras Creditors Agree To $6.22 Billion Debt Swap
  • 23 hours Cracks Emerge In OPEC-Russia Oil Output Cut Pact
  • 1 day Iran Calls On OPEC To Sway Libya, Nigeria To Join Cut
  • 1 day Chevron To Invest $4B In Permian Production
  • 1 day U.S.-Backed Forces Retake Syrian Conoco Gas Plant From ISIS
  • 1 day Iraq Says Shell May Not Quit Majnoon Oilfield
  • 4 days Nigerian Oil Output Below 1.8 Million BPD Quota
  • 4 days Colorado Landfills Contain Radioactive Substances From Oil Sector
  • 4 days Phillips 66 Partners To Buy Phillips 66 Assets In $2.4B Deal
  • 4 days Japan Court Slams Tepco With Fukushima Damages Bill
  • 4 days Oil Spills From Pipeline After Syria Army Retakes Oil Field From ISIS
  • 4 days Total Joins Chevron In Gulf Of Mexico Development
  • 4 days Goldman Chief Urges Riyadh To Get Vision 2030 Going
  • 4 days OPEC Talks End Without Recommendation On Output Cut Extension
  • 5 days Jamaican Refinery Expansion Stalls Due To Venezuela’s Financial Woes
  • 5 days India In Talks to Acquire 20 Percent Of UAE Oilfield
  • 5 days The Real Cause Of Peak Gasoline Demand
  • 5 days Hundreds Of Vertical Oil Wells Damaged By Horizontal Fracking
  • 5 days Oil Exempt In Fresh Sanctions On North Korea
  • 5 days Sudan, South Sudan Sign Deal To Boost Oil Output
  • 5 days Peruvian Villagers Shut Down 50 Oil Wells In Protest
  • 5 days Bay Area Sues Big Oil For Billions
  • 6 days Lukoil Looks To Sell Italian Refinery As Crimea Sanctions Intensify
  • 6 days Kurdistan’s Biggest Source Of Oil Funds
  • 6 days Oil Prices On Track For Largest Q3 Gain Since 2004
  • 6 days Reliance Plans To Boost Capacity Of World’s Biggest Oil Refinery
  • 6 days Saudi Aramco May Unveil Financials In Early 2018
  • 6 days Has The EIA Been Overestimating Oil Production?
  • 6 days Taiwan Cuts Off Fossil Fuels To North Korea
  • 6 days Clash In Oil-Rich South Sudan Region Kills At Least 25
  • 6 days Lebanon Passes Oil Taxation Law Ahead Of First Licensing Auction
Alt Text

Will Ecuador’s Mining Sector Return To Its Golden Days?

Despite the recent political problems…

Alt Text

How To Play The Multi-Billion Dollar Cannabis Boom

Canada’s innovative marijuana company has…

This Asian Country Just Became The World’s Biggest Lead And Zinc Buyer

In the minerals sector — all the way from exploration projects up to mining operations — it’s critical to know who the potential buyers are for your product.

And in the lead and zinc space, there’s a new number one consumer on the block.

That’s Korea. Where smelter Korea Zinc will this week inaugurate a massive new build-out of processing capacity for these metals.

Local press reported that Korea Zinc will hold a ceremony Friday to celebrate commissioning of an expansion at its lead smelter in Onsan, North Gyeongsang Province. Where the addition of new throughput will make this facility the largest user of lead concentrate in the world. Related: Oil Crash Only The Tip Of The Iceberg

According to estimates from analysts Wood Mackenzie, Korea Zinc had, up until now, held second place in world lead-smelting capacity. With the company’s facilities representing 5.2 percent of global lead production capability — just behind China’s Yuguang Smelting, which owned 5.8 percent of lead smelting capacity.

But the new expansion will now increase throughput at the Onsan facility by over 40 percent — to 430,000 tonnes per year, from a former 300,000 tonnes per year. Which analysts project will put Korea Zinc ahead of Yuguang Smelting for top spot in the world of lead. Related: Security Woes Threaten OPEC’s Second Largest Producer

Add that to the fact Korea Zinc already holds top spot globally for zinc smelting — at 4.1 percent of world capacity — and it’s clear this is now the center of the universe when it comes to the lead-zinc market.

Which is a critical observation for project developers in this space.

That’s because big end users like Korea Zinc represent a potential source of project funding, offtake agreements, and eventual concentrate sales. An especially crucial fact to recognize in the lead business — where there are fewer smelters globally than in other base metals like copper or zinc.

Watch for supply deals being struck by Korea Zinc with mines globally to feed its expanded facility at Onsan.

Here’s to looking out for number one

By Dave Forest

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News