Korea Zinc in Talks to Supply Antimony to U.S. Amid China Export Ban

Korea Zinc is in early discussions with U.S. entities to supply antimony following China's export ban, which has disrupted the market for the critical mineral used in semiconductors. Chairman Yun B. Choi confirmed the company is pursuing long-term contracts with U.S. traders and other partners, though specific entities were not disclosed.

Antimony prices are poised to reach record highs after China barred exports to the U.S., intensifying global competition for critical minerals and challenging China's market dominance. Korea Zinc, the world’s largest zinc smelter, produces approximately 3,500 tonnes of antimony ingots annually, with current exports to Japan and the Netherlands.

Choi emphasized Korea Zinc’s independence from Chinese supply chains, noting that the company’s production of zinc, lead, copper, nickel, and other metals relies on proprietary technology. This strategic advantage is expected to benefit Korea Zinc even if U.S. President-elect Donald Trump revises the Inflation Reduction Act (IRA).

Despite anticipating historically poor conditions in the zinc refining market due to limited ore supply, Choi believes Korea Zinc may remain profitable in zinc smelting when others are not.

Additionally, Korea Zinc will hold a special shareholders' meeting on January 23 to discuss the appointment of directors proposed by major stakeholders Young Poong and MBK Partners amid a growing power struggle for control of the company.