Lockheed Martin, Korea Zinc sign MOU for germanium supply and procurement

Korea Zinc has signed a memorandum of understanding with Lockheed Martin (LMT) for the supply and procurement of germanium and cooperation in the critical minerals supply chain. This MOU leads the establishment of a “China-free” critical minerals supply chain, and marks the first successful case of Korea-U.S. collaboration in the field of critical rare metals. Both companies agreed to take the recent Korea-U.S. summit as an opportunity to accelerate the establishment of a China-free critical minerals supply chain at the private-sector level. The MOU stipulates that Korea Zinc will supply Lockheed Martin with germanium smelted outside of China, North Korea, Iran, and Russia, and that Lockheed Martin will pursue an off-take agreement, securing priority rights to procuring this output. Based on the MOU, Korea Zinc and Lockheed Martin will be beginning detailed discussions toward signing a long-term contract. In line with the signing of the MOU with Lockheed Martin, Korea Zinc plans to invest approximately KRW 140B in its Onsan Smelter in Ulsan to establish a new germanium plant. Following trial operations in 2027, the company aims to begin production in the first half of 2028, with plans to produce high-purity germanium dioxide. This development will position Korea Zinc as the only domestic producer of germanium in South Korea.