Korea Zinc Acquires 73% Stake in US Ignio Holdings
[Asia Economy Reporter Moon Hyewon] Korea Zinc announced on the 11th that it will invest in its US subsidiary Pedalpoint Holdings and acquire a 73% stake in the local electronic waste recycling company Ignio Holdings.
According to Korea Zinc, Ignio collects and crushes electronic waste to sell intermediate materials extracted from it. It possesses technology to extract intermediate materials that can be smelted into valuable metals such as copper, gold, silver, and palladium.
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Korea Zinc stated, "Through Ignio's proprietary technology, we plan to further enhance our current annual copper smelting production capacity of 30,000 tons by utilizing high-quality secondary raw materials with high efficiency and safety." They added, "The copper produced in this way will be delivered to our subsidiary K-JAM, which is promoting the copper foil business, supporting eco-friendly copper foil production, and is expected to create a synergy effect in the secondary battery materials business, another core pillar of Korea Zinc's Troika Drive."
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