ZincOx’s Korean Recycling Project (KRP) located in the Cheonbuk Industrial Estate, near Pohang, is on track for its expected production in early 2012. It has an estimated NPV of $162 million and has been awarded foreign investment zone status from the Korean Foreign Investment Committee. The project consists of two phases, both of which are designed to treat 200,000 tpy of Electric Arc Furnace Dust (EAFD) which is a waste by-product occurring from the recycling of scrap steel. This is expected to produce 46,000 tonnes of zinc in concentrate and have a full production capacity of 90,000 tpy of zinc. The company is now at the advanced stage of negotiations with banks to secure funding.
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