Korea Zinc Co. reported a 61.4% surge in first-quarter sales to 3.833 trillion won ($2.95 billion), setting a record despite global demand challenges for its core metals.
The South Korean metals producer saw operating profit jump 46.9% to 271.1 billion won and net income rise 42.3% to 160 billion won from a year earlier, according to a May 8 statement.
The company attributed its performance to strategic diversification into critical minerals including antimony, indium, and bismuth, which saw sales multiply 3.5 times amid heightened focus on secure supply chains between the US and China. The strategic minerals push comes as treatment charges for zinc and lead have declined alongside metal prices.
Korea Zinc’s board approved the cancellation of 2.04 million treasury shares—representing 9.85% of outstanding stock—to be executed in three equal phases through December. The shares were acquired last year to defend against what the company described as hostile takeover attempts.
A company official cited Chairman Choi Yun-beom and current management’s leadership in navigating external uncertainties, including US-China trade tensions, while focusing on enhancing long-term corporate and shareholder value.
The company plans to further boost performance by increasing recovery rates of rare metals.
