Material Insights · Understanding the Material World

Zinc: Extraction

Why zinc and lead come from the same mines

What this tab covers How it is mined, drilled or grown, and processed into a tradeable form: the main methods compared, their unit economics, by-products, and the companies that do this work globally and in India.

Zinc is mined mainly as sphalerite, a zinc sulfide, from sediment-hosted and volcanic-hosted deposits that usually also carry lead and silver. Lead and zinc are classic co-products, often pulled from the same mine (Tilton & Guzmán). Ore is crushed and floated into a concentrate, which smelters roast and then leach and electrowin into Special High Grade metal. The ore also carries smaller metals: cadmium, indium, germanium, gallium and thallium are recovered, or not, as by-products of zinc refining (Nassar et al.). US drilling at the idled Middle Tennessee mines in 2025 targeted germanium and gallium as well as zinc.

Zinc comes mainly from sulphide ores of zinc and lead, often with silver. Ore is mined, mostly underground, and floated into concentrate at the mine. Concentrate is sold to smelters, many of them in China, Korea, Europe, Canada and India, which roast it to oxide, leach it in sulphuric acid, purify the solution and electrowin high-grade zinc. A smaller share is smelted in blast furnaces with lead. Secondary zinc is recovered from steelmaking dust and galvanising residues. Because concentrate carries lead, silver and minor metals, by-product credits shape both mine and smelter economics.

Methods compared

MethodShare of supplyTypical scaleRecovery / efficiencyBy-productsUnit cost
Underground or open-pit mining + flotation to zinc concentratealmost all primary zincHindustan Zinc mined 1,095 kt of metal in FY2025; Teck (mainly Red Dog) 565 kt of zinc in concentrate in 2025n/a Lead, silver (Hindustan Zinc produced 687 t of silver in FY2025)Nexa mining C1 cash cost -$0.30/lb net of by-product credits (2025, preliminary)
Roast-leach-electrowin (RLE) smelting and refiningn/a Korea Zinc sold 590.7 kt of zinc ingot in 2025; Teck Trail refined 229.9 kt; Hindustan Zinc refined 827 kt in FY2025n/a Sulphuric acid, cadmium, indium, germanium, silver and lead residuesNexa smelting C1 cash cost $1.26/lb and conversion cost $0.33/lb (2025); Hindustan Zinc integrated cost of production $1,052/t (FY2025)
Secondary zinc from EAF dust, galvanising residues and scrapEU end-of-life recycling input rate 34% (2023); no world figure foundBoth US smelters recover zinc from secondary materials (USGS 2026)n/a Lead and iron residuesn/a

How each method works

Underground or open-pit mining + flotation to zinc concentrate

Sulphide ore is drilled, blasted and hauled, then crushed, ground and floated. Separate zinc and lead concentrates are produced, with silver reporting mostly to the lead concentrate. Concentrate is trucked, railed or shipped to smelters, many of them owned by other firms.

Lead and silver credits can push net costs below zero, but grades decline as mines age, as at Red Dog.

Teck 2025 production via SMM (Jan 2026); Nexa 2025 production and costs release; Hindustan Zinc FY2025 results Roast-leach-electrowin (RLE) smelting and refining

Concentrate is roasted to zinc oxide, releasing sulphur dioxide that is converted to sulphuric acid. The calcine is leached in acid, iron and impurities are removed, and pure zinc is plated onto cathodes, stripped, melted and cast into Special High Grade ingots. Integrated miners such as Hindustan Zinc capture the full margin.

Makes the high-purity grade the LME trades, but needs large amounts of electricity, which closed some European capacity when power prices spiked.

Nexa 2025 release; Korea Zinc 2025 results via SMM; Teck 2025 production via SMM; Hindustan Zinc IR FY2024-25 Secondary zinc from EAF dust, galvanising residues and scrap

Dust from electric arc steel furnaces, which carries zinc from galvanised scrap, is processed into crude zinc oxide and fed to smelters. Galvanising dross and ash, brass scrap and die-cast scrap are remelted or refined.

Recovers zinc that would otherwise be hazardous waste, but much zinc is dissipated in coatings and chemicals and cannot be recovered.

USGS MCS 2026; EU CRM study 2023 Unit economics are indicative ranges from the sources named; costs vary widely by deposit, region and year.

Share produced as a by-product

About 15% of primary supply comes as a by-product (Nassar, Graedel & Harper 2015, approximate).

Who does it: global

CompanyCountryActivityVolumeYearSource
Hindustan Zinc (Vedanta)Indiamining and smelting (Rajasthan)1.095 Mt mined metal (zinc plus lead) FY2025Hindustan Zinc Integrated Annual Report FY2024-25
GlencoreSwitzerlandmining, smelting and trading0.969 Mt zinc (own-sourced) 2025Glencore Full Year 2025 Production Report
Korea ZincSouth Koreasmelting and refining (Onsan)0.591 Mt zinc ingot sales 2025SMM report on Korea Zinc Q4 2025 results
Teck ResourcesCanadamining (Red Dog) and refining (Trail)0.565 Mt zinc in concentrate 2025SMM report on Teck 2025 production, citing Teck
Zijin MiningChinamining0.4 Mt mined zinc and lead combined 2025Mysteel report on Zijin 2025 results, March 2026
Nexa ResourcesPeru/Brazilmining and smelting0.316 Mt mined zinc (532 kt smelter zinc sales) 2025Nexa 2025 production, sales and costs release

Who does it: India

CompanyCountryActivityVolumeYearSource
Hindustan ZincIndiamining (Rampura Agucha, Sindesar Khurd and others) and smelting (Chanderiya, Dariba, Debari)827 kt refined zinc (plus 225 kt refined lead, 687 t silver) FY2025Hindustan Zinc FY2025 results, reported by The Machine Maker
Vedanta Zinc InternationalIndia (operations in South Africa)mining (Gamsberg, Black Mountain)178 kt mined metal FY2025Vedanta Q4 FY25 press release, 30 April 2025

India mined about 870 kt of zinc in 2025, fifth in the world, with 10 Mt of reserves (USGS). Hindustan Zinc is almost the only primary producer and held about 77% of the domestic primary zinc market in FY2025 (HZL IR FY2024-25); the rest is imported.