Gravita India has signed an annual contract to supply 8,000mt of refined lead in 2021 to a subsidiary of Korea Zinc, Sorin Corporation.
At current lead prices this contract is worth approximately $17mn (Rs1.25bn). Sorin Corporation operates in South East Asian countries including Vietnam, Japan, South Korea, Philippines and India.
Korea Zinc is a non-ferrous metal smelting company and produces about 1.2mn mt of various non-ferrous metals like zinc, copper and lead, in addition to rare material like indium. This contract will accentuate Gravita’s reach in South East Asian markets.
Gravita owns integrated non-ferrous metals and plastic recycling plants in eight countries in Asia, Africa and South America.