Korea Zinc, the nation’s largest non-ferrous smelter, reported record third-quarter sales of 4.16 trillion won ($2.87 billion) on Wednesday, driven by firm prices in strategic metals and expanding resource recycling operations.
Revenue rose 29.7 percent in the July-September period year-on-year, while operating profit surged 82.3 percent to 273.4 billion won, extending the company’s consecutive quarterly profit streak to 103 quarters.
“Driven by proactive investments and portfolio expansion, strategic metals and precious metals have performed strongly, and new business sectors such as resource recycling are entering a stable trajectory,” said a Korea Zinc official.
The strong performance was driven by sales of strategic metals, whose global prices remain elevated amid supply uncertainties linked to US-China trade tensions.
Korea Zinc is the country’s sole producer of antimony, indium and bismuth, which are critical materials for various industries, including electronics, defense and high-tech applications.
Among these, Korea Zinc achieved its first export of antimony to the US this year, totaling 250 billion won in sales by the third quarter. Meanwhile, indium, used in the display industry, recorded a 40 percent year-on-year sales increase to 40 billion won for the same period.
The company noted that, in addition to capitalizing on high global prices, it has improved the yield rate of strategic metals through ongoing technological development.
Sales of precious metals also contributed to the record performance, as global demand for safe-haven assets remained strong. By the third quarter, Korea Zinc had sold 2.3 trillion won worth of silver and 1.3 trillion won of gold.
Despite ongoing disputes over management rights with Young Poong, a major Korean non-ferrous smelter, and private equity firm MBK Partners, Korea Zinc emphasized its commitment to maintaining stable operations.
“We will overcome the threat of a hostile merger or acquisition, uphold our role as the nation’s sole strategic metals hub, and strengthen new businesses like Troika Drive to boost corporate value and competitiveness,” the company official added.
forestjs@heraldcorp.com
