Trafigura CEO Jeremy Weir and executives will visit South Korea next month to meet Korea Zinc chairman Choi Yun-beom, TheElec has learned.
Their meeting is expected to occur in mid-November, between November 14 and 15. Weir’s successor as CEO, Richard Holtum, is also expected to attend.
Trafigura bought a 1.49% stake for 200 billion won in the South Korean zinc smelter in 2022. In November last year, the pair announced their investment in a nickel smelter worth 184.9 billion won.
Weir’s visit comes as Choi is embroiled in a struggle over the control of Korea Zinc, and attention is high on whether stakeholder Trafigura will get involved.
Sources said it is highly likely that the commodities company will get involved by buying more shares of the zinc smelter as it has collaborate with it for years favorably.
Choi’s group controls 34% of Korea Zinc: MBK Partners and others who are leading the takeover bid has 38.4%.