The company described the material as an intermediate product in which 17 rare earth elements are mixed. In advanced and defense industries, the mixture is separated and refined, then converted into oxides for use.
Korea Zinc said its technology research institute at the Onsan smelter and its headquarters engineering team developed the process over three years. The method extracts mixed rare earths, including light and heavy rare earth elements, from waste rare earth magnets obtained by dismantling and separating discarded motors.
Rare earth magnets, used as energy-conversion components in products such as motors and generators, smartphones, missile sensors and drones, contain large amounts of rare earths. Korea Zinc said it developed a way to recover the rare earth mixture from those magnets.
Rare earths are considered essential materials for advanced industries, drawing investment from major countries and companies. Korea Zinc noted that one country holds overwhelming influence across the value chain from mining to production and consumption, raising the risk of supply disruptions and weakened future industrial competitiveness for others.
Korea Zinc said it will continue developing technology for commercial production and plans to work with the government, the city of Ulsan and industry associations to build a system to secure stable raw materials. The company said it aims to contribute to greater technological self-reliance, stronger resource security and a more stable global supply chain.
"Rare earth production is currently dominated by a few countries, leading to severe supply instability and price volatility, which directly affects the competitiveness of advanced industries not only in Korea but worldwide," a company official said. "Korea Zinc's participation in rare earth production, as the world's leading nonferrous metal smelter and a critical minerals hub, will help improve technological self-reliance and stabilize supply chains."
* This article has been translated by AI.
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