ZincOx’s business is recycling EAFD, a hazardous waste generated by the recycling of steel scrap. ZincOx’s long term objective is to operate a network of recycling plants covering each of the major steel recycling regions of the world.
ZincOx has carried out ten years of research and development to find the best way of processing EAFD. It has selected an existing iron making technology that has been optimized for the recovery of zinc. The ZincOx’s approach is energy efficient and with very high zinc and iron recovery into two products without the generation of any waste, as such the process it represents is a technically, economically and environmentally superior solution to the problem of EAFD
The plants will produce
– A high grade zinc (58-62%) concentrate (HZO) suitable for sale to zinc smelters.
– A low quality intermediate iron (50-58%) product (ZHBI) suitable for sale back to the scrap recyclers that supply the EAFD.
The Company’s first recycling plant (KRP) has been developed in Korea where it has 10 year EAFD supply agreements covering approximately 200,000 tonnes per annum. The KRP started operation in April 2012 when production started.
The KRP development cost US$112 million and has been fully financed by equity (55%) and debt (45%). At full capacity it is expected to produce about 83,000 tpa of HZO and 79,000 tpa ZHBI. Assuming a zinc price of US$2,250 per tonne, and a pig iron price of US$450 per tonne, KRP is expected to generate about US$30 million per annum of EBITDA.
Having demonstrated every aspect of the project in KRP, the company intends rolling out this technology in other parts of the world, and considerable progress has been made in Thailand. The company has entered into a joint venture for a similar project in Russia.
It is ZincOx’s ambition to become the most sustainable and largest recycler of EAFD and therefore zinc in the world.