 |
Photo = Korea Zinc |
[Alpha Biz= Kim Jisun] Korea Zinc has announced a strategic investment of approximately KRW 116.5 billion (USD 85 million) in The Metals Company (TMC), a U.S.-listed deep-sea mineral exploration firm. The investment secures a roughly 5% equity stake in TMC and includes rights to acquire additional shares if the company’s valuation increases.
TMC specializes in extracting key battery and clean energy metals—nickel, cobalt, copper, and manganese—from polymetallic nodules found on the ocean floor. Korea Zinc aims to refine these materials and build a global supply network independent of China, aligning with U.S. policy goals under the Inflation Reduction Act (IRA) and Foreign Entity of Concern (FEOC) restrictions.
Initially, raw materials from TMC will be processed at Korea Zinc’s upcoming “all-in-one” nickel refinery in South Korea, set to begin commercial operations by 2027 through its subsidiary, KEMCO. The company also plans to construct a U.S.-based refining facility in the long term.
This partnership not only strengthens Korea Zinc’s access to high-purity nickel for EV batteries but also enhances its ability to supply cobalt, copper, and manganese to both domestic and global clients—offering a competitive alternative to supply chains dominated by China and Chinese-influenced markets like Indonesia.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
