Teck, Korea Zinc reach annual agreement on processing charges, Reuters reports

Teck Resources has agreed to pay Korea Zinc $165 per metric ton to turn its zinc concentrate into refined metal, Reuters’ Julian Luk and Joyce Lee report, citing two sources familiar with the matter. Teck and Korea Zinc are major players in the market for zinc used to galvanize steel for the construction industry and their annual agreement on processing charges that miners pay smelters, for supply from Teck’s Red Dog mine in Alaska, is often used as a benchmark by the industry. The fee Tech has agreed upon with Korea Zinc is the lowest since 2021, Reuters notes.