• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 2 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 12 mins Let’s Try This....
  • 14 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 20 mins Would bashing China solve all the problems of the United States
  • 9 hours New Aussie "big batteries"
  • 4 hours 60 mph electric mopeds
  • 14 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 5 hours China to Impose Dictatorship on Hong Kong
  • 5 hours Pompeo's Hong Kong
  • 10 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 1 day Nothing can shake AMLO’s fossil-fuel fixation
  • 9 hours Backlash Against Chinese
  • 1 day Iran's first oil tanker has arrived near Venezuela
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

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:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




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