In a strategic move that aims to solidify its position in the resource recycling industry, Korea Zinc has announced the acquisition of Kataman Metals, a global scrap metal trading company. The acquisition, valued at USD 55 million, is set to complete the resource recycling value chain between Kataman Metals, Pedalpoint Holdings (Igneo), and Korea Zinc, ultimately bolstering Korea Zinc’s Troika Drive growth engine.
Kataman Metals, with over 30 years of experience in the industry, has been a major player in the global scrap metal trading scene, trading approximately 300,000 tons of scrap metal raw materials annually. This acquisition will provide Korea Zinc with a steady supply of raw materials for their copper facility expansions, including the planned increase in copper production to 150,000 tons annually.
Korea Zinc’s long-term vision includes reducing carbon emissions by using recycled materials in their production process. With the acquisition of Kataman Metals, known for its expertise in the recycling market, Korea Zinc is expected to secure a stable supply of raw materials to support their sustainability goals.
This acquisition follows Korea Zinc’s previous acquisition of Igneo Holdings, a U.S. electronic waste recycling company, showcasing the company’s commitment to establishing a comprehensive and sustainable value chain from raw material procurement to manufacturing processes.
With the completion of this acquisition, Korea Zinc is poised to strengthen its competitiveness in the resource recycling industry and solidify its position as a leader in the transition towards circular economies. The company’s strategic investments and forward-looking approach demonstrate a commitment to sustainability and innovation in the ever-evolving global market.
