Metals News
Korea Zinc Says to Sell $343 mln of Silver to Japan
industry news
03:01PM
Dec 9,2010
Source:SMM

SEOUL, Dec. 9 -- Korea Zinc <010130.KS>, the world's No.2 zinc refiner as measured by capacity, will supply 391.9 billion won ($343 million) of silver to two firms in Japan next year, the company said on Thursday.

The deals bring the company's silver sales to neighbouring Japan, its major exporting country, in the past two weeks to a total of 1.3 trillion won, according to its filings with the exchange.

The refiner, with a total of 980,000 tonnes of annual zinc production capacity, produces 1,200 tonnes of silver per year as a byproduct.

The firm reported its silver sales to the stock markets because a single contract accounts for more than five percent of its previous year's sales, as high silver <XAG=> prices reach 30-year highs, a company official said.

 

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