Which specific South Korean refineries increased silver throughput or capacity after January 2026, and what are the tonnage changes?
Executive summary
No open-source reporting reviewed identifies any South Korean refinery that explicitly increased silver throughput or declared a quantified uplift in silver refining capacity after January 2026; coverage points to Korea Zinc’s Onsan smelter and Korea Zinc’s overseas refinery plans as focal developments that could affect silver supply but does not provide post‑Jan‑2026 tonnage changes for silver refining in South Korea [1] [2] [3] [4]. Reporting shows policy and market pressures — notably China’s export controls — that have elevated Korea’s strategic role, but the sources do not contain the specific throughput or capacity numbers requested [1] [5].
1. Korea Zinc: rising profile, but no published silver tonnage increase for Onsan
Multiple outlets single out Korea Zinc’s Onsan refinery in Ulsan as a central non‑Chinese hub for refined silver as global trade patterns shift, and Korea Zinc is simultaneously pursuing major downstream projects at home and abroad that could expand its metal processing footprint (Korea JoongAng Daily on Korea Zinc’s Onsan refinery; Reuters/Al Jazeera on the company’s U.S. plans) [1] [2] [3]. Those stories document strategic moves — a planned $7.4 billion U.S. critical minerals refinery and upgrades to the Clarksville smelter beginning in 2026 — but none of the pieces reviewed disclose a specific increase in Onsan’s silver throughput or a tonnage delta attributed to activity after January 2026 [2] [3] [4].
2. U.S. refinery build and Clarksville upgrade: implications, not hard silver figures
Reporting from Reuters, Al Jazeera and trade press confirms Korea Zinc’s plan to build a large U.S. minerals refinery and to upgrade existing U.S. smelting assets, moves framed in part by Washington’s strategic interest in diversifying critical minerals supply chains including silver [2] [3] [4]. Those accounts imply Korea Zinc will handle more refined by‑products such as silver through expanded smelting and refining capacity overseas, but they stop short of specifying how much additional silver (in tonnes) will be produced, or how such moves change South Korea‑based silver throughput after January 2026 [2] [3] [4].
3. Market drivers — China controls and a wider squeeze — raise Korean significance but not numbers
Several market commentaries and analyses document that China’s 1 January 2026 export restrictions on silver have tightened global supply and elevated the role of approved non‑Chinese refiners, with Korea listed as a potential alternative processing hub (discussion of China’s controls and Korea’s emerging role) [1] [5]. Industry commentary and investor pieces argue Korea could absorb some refining demand, but none of the provided sources convert that strategic positioning into concrete reported increases in silver tonnes refined in South Korea post‑Jan‑2026 [1] [5].
4. Gaps in the record and likely reasons for the silence
Public reporting reviewed focuses on corporate strategy (Korea Zinc’s projects), geopolitical drivers (China’s export rules, U.S. critical minerals policy), and industry context rather than plant‑level metal accounting; consequently, the dataset lacks direct statements from South Korean refineries announcing post‑January‑2026 silver throughput or capacity changes in tonnes [1] [2] [3] [4] [5]. Possible explanations include commercial sensitivity over metal flows, ongoing project timelines (U.S. upgrades slated to begin in 2026 with later ramp‑up), and reporting priorities that stress strategic implications over operational metrics [2] [3] [4].
5. Bottom line and recommended next steps for verification
Based on the material available, it is not possible to list any South Korean refinery that definitively increased silver throughput or capacity after January 2026 with a quantified tonnage change; Korea Zinc’s Onsan refinery is the most frequently mentioned South Korean facility in the available coverage and the company’s domestic and U.S. expansion plans make it the prime candidate for any future documented increases, but the sources do not provide the tonnage data sought [1] [2] [3] [4]. To obtain the specific, verifiable figures requested would require direct statements or filings from the refineries (e.g., Korea Zinc production reports, customs/export licensing tallies, or regulatory submissions) or industry datasets that break down refined silver throughput by facility for 2026 onward — none of which appear in the provided reporting [1] [2] [3] [4].