Korea Zinc's Australian unit secures key approval for battery project

SEOUL, June 5 (UPI) -- The world's leading non-ferrous metals manufacturer, Korea Zinc, said Friday its Australian renewable energy unit, Ark Energy, has secured a key approval for its flagship battery energy storage project in Australia.

The Seoul-based company said Ark Energy received the OK for grid connection from two organizations, transmission operator Transgrid and the Australian Energy Market Operator.

Ark Energy has been developing the Richmond Valley project, which is near Myrtle Creek, around 590 miles northeast of Canberra and south of Brisbane.

The project combines a 200-megawatt solar farm with a long-duration battery system capable of storing 2,200 megawatt-hours of electricity and supplying up to 275 megawatts of power.

Korea Zinc said that the facility's storage capacity is comparable to the combined battery capacity of about 26,000 Tesla Model Y electric vehicles.

The company said that the latest approval represents a significant step forward, confirming that the project meets the requirements for connection to Australia's national electricity network.

The initiative is expected to play a crucial role as countries seek to strengthen energy security and reduce dependence on volatile fossil fuel supply chains, according to Korea Zinc.

"We are systematically pursuing long-term business investments and growth strategies," the company said in a statement. "Through this differentiated vision and business performance, we will continue to enhance both corporate and shareholder value."

The share price of Korea Zinc dropped 3.88% on the Seoul bourse Friday.

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This story was originally published June 5, 2026 at 12:48 PM.