Due to China's Strategic Mineral Export Controls... Korea Zinc, the Only Domestic Producer, Ensures "Stable Supply"

As the Chinese Ministry of Commerce has implemented export control measures on five strategic mineral items including tungsten, molybdenum, indium, bismuth, and tellurium, Korea Zinc announced on the 10th that it is stably supplying these minerals, which are uniquely produced domestically.

Korea Zinc CTO Vice Chairman Lee Je-jung is visiting the indium plant within the Korea Zinc Onsan Smelter to check the produced products. Photo by Korea Zinc

Korea Zinc stated that as a company playing a key role in realizing the government's supply chain stabilization plan, it will further solidify its strategic value in the global supply chain. Korea Zinc is reported to be stably producing key minerals such as indium, bismuth, and tellurium. It operates the world's only 'zinc-lead-copper integrated process' and extracts 12 types of strategic minerals present in trace amounts in zinc and lead concentrates.

In particular, Korea Zinc has supplied about 150 tons of indium annually to the global market, exporting a significant amount to the United States as well, thereby establishing an important foundation for the development of global advanced industries. Indium is a metal widely used in LCD displays, touchscreens, semiconductor substrates, aircraft engines, and solar panels.

Bismuth, which is used in vehicle transmission parts and high-temperature superconductor materials, has also been sold domestically and internationally by Korea Zinc at an annual scale of 900 to 1000 tons. Korea Zinc is expected to play a significant role in the stable supply of bismuth to the United States. From 2020 to 2023, the U.S. imported 67% of its bismuth from China and 23% from Korea, making Korea the second largest supplier.

For tellurium, used in manufacturing solar cells, thermoelectric materials, capacitors, and automotive parts, Korea Zinc has produced 100 to 200 tons annually.

Indium, bismuth, tellurium, and antimony, the only ones produced domestically by Korea Zinc. Provided by Korea Zinc

Antimony, which China began controlling exports of last September, is also uniquely produced domestically by Korea Zinc. It produces about 3,500 tons annually, selling 70% to the domestic market and exporting the remaining 30% to Europe and Japan. As of last year, China was the largest producer of antimony ore in the world, mining 48% (86,400 tons) of the global supply, but the export controls have intensified global competition to secure alternative trading partners.

A Korea Zinc official said, “With China's export controls on key minerals, Korea Zinc's role in the global supply chain has become even more important, so we will devote ourselves to stabilizing strategic mineral production and cooperating with allied countries. We will put all our efforts into becoming a core pillar that supports the industrial base while prioritizing national interests and strengthening resource security.”