Canadian miner Teck Resources and Korea Zinc Co. finalized a 2026 agreement to adjust pricing for zinc concentrates, with $85/ton treatment fees and new charges for silver and germanium. The deal follows a surge in critical mineral prices, driven by China’s export controls on germanium and other materials since 2023. Red Dog mine output, a key Teck asset, now faces tariffs in China, complicating sales.

Korea Zinc, a top non-Chinese germanium producer, will benefit as silver prices rose 150% and germanium 75% in 2025. The agreement lowers the silver content threshold for payment, boosting Teck’s revenue share. Germanium’s strategic role in defense and tech underscores its growing market value.