Published: Nov 20, 2023 09:40
Trafigura, a commodities trader, announced on its website on November 17th that it has agreed to invest in an integrated nickel refining plant set up by Korean Zinc Co. through its subsidiary, Korean Energy Materials Co. (KEMCO). At a ceremony held at the headquarters of Korean Zinc Co. on November 16th, the two companies signed an agreement to jointly invest 184.9 billion won (140 million US dollars) to build an integrated nickel refining plant. The plant is expected to start trial operation next year and will produce battery-grade metals from raw materials such as nickel-molybdenum and mixed hydroxide precipitates. Through the agreement, Korean Zinc Co. will increase its shareholding in KEMCO, and KEMCO's earnings will be consolidated into Korean Zinc Co.'s financial statements, with Trafigura receiving 12.9% of KEMCO's shares.

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Trafigura, a commodities trader, announced on its website on November - Shanghai Metals Market (SMM)