Korea Zinc announced on May 6 that its consolidated operating profit for the first quarter was preliminarily estimated at KRW 746.1 billion, up 175.2% from a year earlier. Revenue for the quarter rose 58.4% year on year to KRW 6.072 trillion, while net profit increased 117.9% to KRW 354.0 billion.

South Korea’s Korea Zinc plans to invest $6.6 billion to develop a major critical minerals smelter and U.S. headquarters in Tennessee, marking the state’s largest-ever private investment. The project will span Clarksville and Gordonsville, including a new manufacturing facility and the reopening of a former mine. The integrated smelter will produce 13 nonferrous metals such as zinc, copper, and lead, supporting key industries including defense, aerospace, and automotive. The project is expected to create over 740 jobs and reduce U.S. reliance on China for critical minerals. Developed in partnership with the U.S. government, which may take a 40% stake, construction is scheduled to begin in 2027, with site preparation starting in 2026.

On April 2, Nyrstar announced that the sale of its US assets to Korea Zinc was completed on April 1. The assets involved included the East Tennessee and Mid Tennessee mining complexes as well as the Clarksville smelter. The transaction, first announced in December 2025, had received all necessary regulatory and government approvals. Assets and employees were transferred to Korea Zinc under existing terms, ensuring a seamless transition in operations, safety standards, and production. Under the terms of the agreement, Trafigura will continue to market and sell the Clarksville smelter’s total production of zinc metal and supply concentrate and oxide to the operation throughout 2026.

Korea Zinc is in talks with major U.S. technology companies to recover valuable metals from data-center electronic waste. The initiative aims to extract multiple metals including copper and other strategic materials. Analysts say the project reflects the growing importance of electronic waste recycling in global metal supply chains.

[Frequent Supply Disruptions; Imported TCs Continued to Decline]: Weekly data showed that the average weekly TC for SMM Zn50 domestic remained flat at 1,550 yuan/mt in metal content, while the SMM Imported Zinc Concentrate Index fell by $8.37/dmt MoM to $15.38/dmt...

[Overseas Lead Smelter Dynamics] According to the Q4 2025 financial report released on Korea Zinc's official website, the company's full-year lead ingot sales in 2025 totaled 404,200 mt, down 9.29% YoY, falling short of the annual target of 450,000 mt with a 90% completion rate. The planned lead volume for 2026 is 430,000 mt.

On June 16th, Canada’s The Metals Company (TMC) announced it has secured an $85.2 million investment from South Korean refiner Korea Zinc, strengthening its push into deep-sea mining for critical minerals. The deal gives Korea Zinc a 5% equity stake via 19.6 million shares at $4.34 each, along with a three-year warrant to purchase an additional 6.9 million shares at $7. TMC shares surged nearly 18% on the news, with its market cap reaching $1.91 billion. The investment supports TMC’s efforts to obtain a U.S. license to commercially extract polymetallic nodules from the Clarion-Clipperton Zone (CCZ), containing nickel, cobalt, copper, and manganese—key metals for EVs, defense, and energy infrastructure. TMC CEO Gerard Barron highlighted the strategic alignment with Korea Zinc, noting its unique capability outside China to process TMC’s materials into U.S.-compliant metal products. The announcement comes amid rising U.S. efforts to diversify supply chains and fast-track deep-sea mining. The investment is expected to close on June 26.

Canada’s The Metals Company (TMC) (Nasdaq: TMC) announced on Monday that South Korean refiner Korea Zinc will invest $85.2 million (C$116 million) for a 5% stake, purchasing 19.6 million shares at $4.34 each, along with a three-year warrant for an additional 6.9 million shares at $7 apiece—a major boost for TMC’s deep-sea polymetallic nodule mining ambitions. The news sent TMC shares soaring 27% to $1.19, lifting its market cap to $1.92 billion, as the company seeks U.S. approval to harvest nickel, cobalt, copper, and manganese-rich nodules critical for EVs and energy infrastructure. CEO Gerard Barron called the deal a strategic alignment with Korea Zinc’s unique non-Chinese refining capacity to process TMC’s materials into U.S.-ready metal products.

According to market sources, the market reported that the benchmark zinc concentrate TCs for the 2025 imports by Canadian mining company Teck Resources and Korea Zinc were settled at $80/dmt, a 52% decrease from $165/dmt in 2024, hitting a record low. Teck Resources declined to comment on the news, and SMM continues to await the official announcement.

【SMM Flash】According to SMM, the market reported that the benchmark zinc concentrate TCs for the 2025 imports by Canadian mining company Teck Resources and Korea Zinc were $80/dmt, a 52% decrease from $165/dmt in 2024, hitting a record low. Teck Resources declined to comment on the news, and SMM continues to await the official announcement.