Korea Zinc targets rare earth supply chain via urban mining

A report by the KDB Future Strategy Research Institute suggests that South Korea can overcome its lack of rare earth mineral resources by utilizing advanced smelting and recycling technologies, a concept known as ‘urban mining’. As global supply chains for rare earths—essential for electric vehicles, wind turbines, and defense systems—become increasingly concentrated in China, South Korea is looking toward recovering minerals from waste magnets and electronic devices.

Korea Zinc has been identified as a key player in this strategic shift. The company is advancing ‘Project Crucible’, a large-scale integrated smelter in Clarksville, Tennessee, designed to produce 11 types of critical minerals. Additionally, the company is working to establish a rare earth recycling plant to extract materials from spent permanent magnets.

Under the leadership of Chairman Choi Yun-beom, Korea Zinc is pursuing its ‘Troika Drive’ strategy, focusing on renewable energy, secondary battery materials, and resource circulation. The company is also participating in a government-supported project to develop core equipment for rare earth processing, aiming to master high-purity separation and refining technologies by 2030.