South Korea will increase investment in the non-ferrous metals industry

Major companies in South Korea have made significant investments in zinc, aluminum and nickel production and also intend to continue expanding the industry as demand improves.

Korea Zinc Inc, a non-ferrous metals company in South Korea, plans to complete construction of its No. 2 non-ferrous industrial park in mid-2015. The industrial park is located in Onsan-eup, Ulju-gun Ulsan, and is designed for an annual capacity of 130 thousand tons, including 27 thousand tons of zinc, 4300 tons of copper, 829 tons of silver and 3 tons of gold. The company currently has an annual capacity of 560,000 tonnes of zinc, 300,000 tonnes of lead, 7 tonnes of gold and 2,000 tonnes of silver, and acquired a plot of land in Ulsan earlier this year for a new expansion of production capacity.

Standard Firm Co., Ltd is an aluminum billet manufacturer that also plans to complete a new branch this month. The plant is located in Gangwon Munmak Industrial Park and includes two 100 ton kilns, three 60 ton kilns and three 50 ton kilns. The commissioning of this facility will be able to bring the company's total annual capacity to 304 thousand tons. The products of the new plant will be mainly exported to overseas markets, including Israel, the United States and Pakistan. In February of this year, the company signed an agreement on the supply of aluminum billets to India. The company is also negotiating a similar supply contract with Israel and Pakistan.

Another company Société du Nickel of New Caledonia (SNNC) introduced 2 kilns earlier this month. After the commissioning of the new furnaces, SNNC has an annual capacity of 84,000 tons. SNNC is a joint venture between Pohang Iron & Steel Corporation (POSCO), the largest steel producer in South Korea, and the Mining Company (Société Miniere du Sud Pacifique - SMSP), the largest exporter of New Caledonian nickel.