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Korea Zinc Co. plans to add green hydrogen and battery materials sectors to the list of its new growth drivers.
Officials said that Korea Zinc, the world’s largest lead and zinc smelter, aims to make 2021 its first year of going beyond the smelting business to become a leader in the hydrogen and battery material industries.
Ark Energy, a sister company of Korea Zinc’s Sun Metals, will produce liquid hydrogen and export locally produced green hydrogen to South Korea through the Port of Townsville in Queensland.
The deal marks the start of Korea Zinc’s hydrogen business.
Korea Zinc is also trying to enter the battery material business through joint ventures. to diversify its business portfolio.
In 2018, Korea Zinc and LG Chem Ltd. established Korea Energy Materials Co., a JV that produces nickel sulfate, a raw material for lithium-ion batteries and plating.
Korea Zinc and LG Chem are also seeking to build a JV for battery precursor, a material created by mixing cobalt, nickel, and manganese, which is added to lithium to make cathodes.
Korea Zinc also set up KZAM Corp., a maker of copper foil for electric vehicle batteries.
