The Republic of Korea (South Korea)
The Republic of Korea was estimated to be the world’s second-ranked producer of refined bismuth, refined cadmium, and refined indium
Pictured: silver-bismuth ore
Statistics and information on the mining industry in the Republic of Korea.
Overview
In 2024, the Republic of Korea was estimated to be the world’s second-ranked producer of refined cadmium, accounting for 19% of global production; the second-ranked producer of refined indium (17%) and refined bismuth (6%); the fourth-ranked producer of zeolites (11%); the sixth-ranked producer of talc and pyrophyllite (4.5%) and raw steel (3.4%); the seventh-ranked producer of diatomite (4.7%) and refined copper (2.2%); and the ninth-ranked producer of sulfur (3.7%). The country’s other major mineral products included refined rhenium and refined tellurium.
The mining and quarrying sector (excluding coal) contributed less than 0.1% to the gross domestic product. The legislative framework for the mineral sector in the Republic of Korea is provided by the Mining Industry (Amendment) Act (No. 16127 of 2018) and the Mining Damage Prevention and Restoration (Amendment) Act (No. 16936 of 2020). Government agencies related to the mineral industry include the Ministry of Trade, Industry, and Energy, Korea Mine Rehabilitation and Mineral Resources Corp., and the Korea Institute of Geoscience and Mineral Resources. Most of mining and mineral processing companies were privately owned by domestic stakeholders.
In 2024, the Republic of Korea’s leading copper refiner LS MnM Inc. signed two purchase contracts to secure copper concentrates over the next 5 to 10 years. Almonty Industries Inc. of Canada and GB Innovation Co. Ltd. continued to develop the Sangdong tungsten mine and the Ssangjeon tungsten mine, respectively. POSCO International Corp. acquired a 19.9% stake in Black Rock Mining Ltd.’s Mahenge Mine in Tanzania, expecting to receive 60,000 t of graphite annually over the next 25 years.
In the global mineral industry, the Republic of Korea was a key processor of imported raw materials. It remained essential in the supply chains for high-tech products like rechargeable batteries and semiconductors. In 2024, the Republic of Korea was estimated to be the world’s second-ranked producer of refined cadmium, accounting for 19% of global production; the second-ranked producer of refined indium (17%) and refined bismuth (6%); the fourth-ranked producer of zeolites (11%); the sixth-ranked producer of talc and pyrophyllite (4.5%) and raw steel (3.4%); the seventh-ranked producer of diatomite (4.7%) and refined copper (2.2%); and the ninth-ranked producer of sulfur (3.7%). It was also the world’s second-ranked producer of smelted zinc, representing 7% of global production in 2023 (the latest year for which data were available), and the fourth-ranked producer of refined lead (6%) in 2022. The country’s other major mineral products included refined rhenium and refined tellurium (Klochko, 2024, 2026; Tolcin, 2025; Brioche, 2026; Callaghan, 2026; Crangle, 2026a, b; Flanagan, 2026; Merrill, 2026; Saloum, 2026; Tuck, 2026).
Minerals in the National Economy
In 2024, the Republic of Korea’s real gross domestic product (GDP) increased by 2.0%. The country’s nominal GDP was \$1.88 trillion. Mining and quarrying production (excluding coal) contributed less than 0.1% to the GDP and was valued at \$1.32 billion,1 of which limestone accounted for 74%. The mining and quarrying sector (excluding coal) employed 3,440 people, accounting for 0.01% of total employment (of about 28.6 million people) in the country (Bank of Korea, 2025, p. 5, 9; Kim and others, 2025, p. 20, 24, 28; World Bank, The, 2026).
Government Policies and Programs
The legislative framework for the mineral sector in the Republic of Korea is provided by the Mining Industry (Amendment) Act (No. 16127 of 2018) and the Mining Damage Prevention and Restoration (Amendment) Act (No. 16936 of 2020). The Ministry of Trade, Industry, and Energy (MOTIE) is responsible for implementing the country’s mineral laws and policies. In 2023, the MOTIE introduced a list of 33 “critical minerals,” of which 10 were prioritized as “strategic critical minerals” used for semiconductors and rechargeable batteries: cobalt, graphite, lithium, manganese, nickel, and 5 rare-earth elements (cerium, dysprosium, lanthanum, neodymium, and terbium) (Ministry of Trade, Industry and Energy, 2023b, p. 4).
State-owned Korea Mine Rehabilitation and Mineral Resources Corp. (KOMIR) under MOTIE stockpiles 12 minor metals to secure its mineral supply; the Public Procurement Service stockpiles 6 nonferrous metals and other 8 minor metals for price stabilization. In 2024, KOMIR secured a site for a new stockpiling facility in Jeollabuk-do to maintain a 100-day supply of critical minerals by 2031 (Ministry of Trade, Industry and Energy, 2024).
Production
Data on mineral production are in the Production table (formerly table 1).
Structure of the Mineral Industry
Most of mining and mineral processing companies were privately owned by domestic stakeholders. The country’s major smelting companies included Korea Zinc Co. Ltd., which process lead-zinc concentrates to produce mainly lead, zinc, and byproducts; LS MnM Inc. (refined copper); POSCO Holdings Inc. (steel); and Young Poong Corp. (zinc). The Facilities table (formerly table 2) is a list of major mineral industry facilities.
Mineral Trade
In 2024, the Republic of Korea’s exports and imports totaled about \$684 billion and \$632 billion, respectively. Exports of metal ores, slag, and ash were valued at nearly $1 billion, of which China was the leading recipient, accounting for 79%. Exports of base metals and articles of base metal were \$52 billion, with the United States receiving 15.0%, followed by China (14.8%). Imports of metal ores, slag, and ash were \$19 billion, of which Australia was the leading supplier, accounting for 35%. Imports of base metals and articles of base metal were \$44 billion, with China supplying 35% (Korea International Trade Association, 2026; Trade Data Monitor LLC, 2026).
Commodity Review
Copper.—To meet demand for raw materials required by its copper refineries, the Republic of Korea imported about 1.7 million metric tons (Mt) of copper concentrates in 2024, of which Chile accounted for 34%. In April, the Republic of Korea’s leading copper refiner LS MnM signed a purchase contract with the Centinela Mine in Chile to receive a total of 1 Mt of copper concentrates over the next 10 years. In May, LS MnM signed another contract with BHP Group Ltd. of Australia to receive a total of 1.73 Mt of copper concentrate over 5 years. LS MnM anticipated that these contracts would enable it to secure a stable supply of raw materials (Cho and others, 2024; Trade Data Monitor LLC, 2026).
Graphite.—Amorphous graphite production decreased to 1,000 metric tons (t) in 2024 from 9,615 t in 2023. The country’s total imports of graphite also decreased to about 29,400 t from 52,000 t in 2023. The decrease in imports was likely due to China’s export restriction on graphite effective in December 2023. Of total graphite imports, the Republic of Korea relied on 97% from China in 2024 and 95% in 2023 (Production table; Ministry of Trade, Industry and Energy, 2023a; Kim and others, 2025, p. 59–60).
In September, POSCO International Corp., a subsidiary of POSCO (the country’s steel and rechargeable battery material manufacturer), signed an agreement for investing \$40 million with Black Rock Mining Ltd. of Australia. Under the agreement, POSCO acquired a 19.9% stake in Black Rock Mining’s Mahenge Mine in Tanzania, expecting to receive 60,000 t of graphite annually over the next 25 years. The Mahenge Mine was scheduled to begin commercial production in 2026 at the earliest (POSCO Holdings Inc., 2024).
Indium.—Indium was primarily consumed in electronic products, particularly in the production of transparent electrodes used in displays and touchscreens. Between 2021 and 2024, the United States imported a total of about 800 t of unwrought indium, of which the Republic of Korea was the leading supplier, accounting for 25%. In the Republic of Korea, indium was recovered as a byproduct of processing zinc concentrates. Korea Zinc, one of the world’s leading producers of indium, produced indium with a purity level of up to 99.999% at its Onsan refinery (Korea Zinc Co. Ltd., 2024; Crangle, 2026).
Lead.—The Republic of Korea primarily depended on imported lead concentrates to meet its domestic demand. The country imported 543,000 t of lead concentrates in 2024, of which Australia was the leading supplier, accounting for 19%, followed by Mexico (17%). Korea Zinc, the country’s sole lead refiner, produced about 445,000 t of refined lead in 2024, an increase from 413,000 t in 2023. The increased production resulted from improvements in operational processes, energy efficiency, and cost savings at its Onsan plant (Onsan Industrial Estate Association, 2024; Korea Zinc Co. Ltd., 2025, p. 87; Trade Data Monitor LLC, 2026).
Tungsten.—Almonty Industries Inc. of Canada completed its pilot plant trial production at the Sangdong Mine in Gangwon-do during July and August. Commercial production at Sangdong was expected to commence in 2025. GB Innovation Co. Ltd. was developing another tungsten mining project at the Ssangjeon Mine in Gyeongsangbuk-do. The proven reserves at Ssangjeon were estimated to be more than 3 Mt grading 0.46% WO3 (or more than 14,000 t of WO3). The mine was expected to start operations in a few years (Almonty Industries Inc., 2024; GB Innovation Co. Ltd., 2024).
Zinc.—The country’s zinc smelter production in 2024 decreased to about 838,000 t from 960,000 t in 2023. The decline in production was in part due to that of Young Poong, which produced 208,000 t in 2024, down from 320,000 t in 2023. The decrease was attributed to the 10-day suspension of operations at its Seokpo smelter in Gyeongsangbuk-do for a violation of environmental regulations (Young Poong Corp. 2024, p. 21; 2025, p. 43, 474).
Production table
(Metric tons, gross weight, unless otherwise specified)
| Commodity | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Bentonite | 5,314 | 34,243 | 28,410 | 8,000 | 8,000e |
| Bismuth, refinery | 940e1 | 1,1001 | 8661 | 910e1 | 1,000e1 |
| Cadmium, refinery, primary | 4,400e | 4,600 | 5,054 | 5,000e | 4,300e |
| Cement, hydraulic | 47,518,000 | 49,864,000 | 51,062,000 | 51,116,000 | 44,186,000 |
| Clays, pottery clay | 182,619 | 155,746 | 142,705 | 124,034 | 120,000e |
| Clays, unspecified | 504,291 | 508,168 | 343,336 | 416,073 | 400,000e |
| Clinker | 41,894,000 | 43,430,000 | 42,890,000 | 41,991,000 | 38,062,000 |
| Copper, refinery, primary, Cu content | 489,500 | 476,300 | 465,700 | 451,500 | 438,200 |
| Copper, refinery, secondary, Cu content | 181,800 | 171,100 | 172,200 | 152,600 | 166,000 |
| Copper, smelter, primary, Cu content | 513,900 | 520,000 | 525,000 | 525,000 | 525,000 |
| Copper, smelter, secondary, Cu content | 166,000 | 170,000 | 165,000 | 170,000 | 180,000 |
| Diatomite, diatomaceous earth | 65,240 | 49,616 | 49,097 | 120,941 | 5,864 |
| Feldspar | 415,426 | 987,309 | 851,046 | 990,546 | 1,081,013 |
| Ferroalloys, ferromanganese, electric furnace | 258,787 | 407,516 | 372,490 | 193,446 | 150,000e |
| Ferroalloys, ferronickel | 228,000 | 220,000 | 218,000 | 230,000 | 235,000 |
| Ferroalloys, ferrosilicon | 29,000e | 30,000e | 29,000e | 28,000e | 28,000e |
| Ferroalloys, silicomanganese, electric furnace | 149,196 | 146,289 | 151,263 | 113,045 | 100,000e |
| Fuller's earth | 71,855 | 52,192 | 73,021 | 3,867 | 3,900e |
| Gold, mine, Au content (kilograms) | 189 | 162 | 128 | 43 | 61 |
| Gold, refinery (kilograms) | 44,665 | 47,000 | 46,051 | 40,608 | 41,348 |
| Graphite, amorphous | 0 | 7,812 | 16,758 | 9,615 | 1,000 |
| Graphite, crystalline flake | 3,052 | 10,485 | 7,040 | 0 | 0 |
| Indium, refinery, primary, In content (kilograms) | 210,000e | 91,000 | 79,000 | 80,000e | 80,000e |
| Iron ore, mine | 575,232 | 538,564 | 434,003 | 503,647 | 386,806 |
| Iron ore, mine, Fe content | 322,000 | 302,000 | 243,000 | 282,000 | 217,000 |
| Kaolin | 393,236 | 352,003 | 426,959 | 331,459 | 330,000e |
| Lead, mine, Pb content | 1,681 | 1,528 | 974 | 241 | 1,100 |
| Lead, refinery, primary | 435,040 | 426,415 | 412,432 | 413,328 | 445,040 |
| Lead, refinery, secondary | 340,000 | 349,000 | 348,000 | 363,000 | 390,000 |
| Lime | 5,100,000e | 5,200,000e | 5,100,000e | 5,100,000e | 5,000,000e |
| Mica, all grades | 20,983 | 10,984 | 10,198 | 19,891 | 7,833 |
| Molybdenum, mine, ore, Mo content | 411 | 408 | 367 | 339 | 235 |
| Pig iron | 45,359,558 | 46,440,525 | 42,658,000 | 45,204,992 | 44,105,652 |
| Raw steel | 67,098,000 | 70,556,000 | 65,855,847 | 66,681,000 | 63,531,443 |
| Rhenium, refinery, ammonium perrhenate, Re content (kilograms) | 2,800e | 2,800e | 2,800e | 2,800e | 3,000e |
| Salt | 345,437 | 453,776 | 424,394 | 414,490 | 365,887 |
| Sand and gravel, industrial, quartz | 870,000 | 585,000 | 637,000 | 1,090,000 | 1,100,000e |
| Silver, mine, Ag content (kilograms) | 5,739 | 10,001 | 7,100 | 2,322 | 4,378 |
| Silver, refinery, primary, metal, Ag content (kilograms) | 2,851,739 | 2,785,000 | 2,507,000 | 2,283,028 | 2,280,155 |
| Steel products | 65,752,000 | 69,133,000 | 65,000,000e | 66,000,000e | 63,000,000e |
| Sulfur, byproduct, metallurgy, S content | 1,080,000e | 1,080,000e | 1,080,000e | 1,080,000e | 1,100,000e |
| Sulfur, byproduct, natural gas and petroleum, S content | 2,000,000e | 2,000,000e | 2,000,000e | 2,000,000e | 2,000,000e |
| Talc and related materials, pyrophyllite | 314,346 | 353,013 | 320,954 | 304,029 | 278,262 |
| Talc and related materials, talc | 1,600 | 2,091 | 1,876 | 2,900 | 1,782 |
| Zeolites | 130,958 | 128,173 | 126,685 | 177,923 | 163,666 |
| Zinc, mine, Zn content | 4,300 | 4,371 | 3,960 | 808 | 3,009 |
| Zinc, smelter, primary | 987,201 | 948,973 | 965,345 | 960,205 | 838,359 |
References Cited
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- Callaghan, R.M., 2026, Cadmium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 60–61.
- Cho, Y.-h., Jung, Y.-j., and Yoon Y.-h., 2024, LS Group secures large-scale copper concentrate purchase contracts: Pulse by Maeil Business News Korea, June 18. (Accessed March 3, 2026, at https://pulse.mk.co.kr/news/english/11044183.)
- Crangle, Rob, 2026a, Diatomite: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 76–77.
- Crangle, Rob, 2026b, Indium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 98–99.
- Flanagan, D.M., 2026, Copper: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 72–73.
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