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Canadian miner Teck Resources has agreed to pay Korea Zinc $165 per metric ton, a three-year low, to turn its zinc concentrate into refined metal, according to two sources familiar with the matter.
Korea Zinc declined to comment. Teck Resources said it “does not comment on commercial negotiations”. Their annual agreement on yearly processing charges that miners pay smelters, for supply from Teck’s Red Dog mine in Alaska, is often used as a benchmark by the industry.
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