Ore, metal and zinc oxide: three measures that matter

01 / Ore and contained zinc

Ore tonnage measures mined material. Contained zinc measures the zinc within a material such as concentrate. A large ore figure cannot be substituted for metal output without knowing its composition and the reporting definition.

02 / Refined metal

Smelting and refining produce zinc metal to a specified quality. Teck’s 2025 update, for example, separately reported 565,000 tonnes of zinc in concentrate and 229,900 tonnes of refined zinc from Trail. The concentrate figure included Teck’s 22.5% share of Antamina.

These are distinct stages of a supply chain. Adding them together would not create a meaningful ranking of newly mined zinc.

03 / Zinc compounds

Zinc oxide, ZnO, is a chemical compound containing zinc and oxygen. Its uses include specified roles in sunscreens, cosmetics and industrial formulations. The mass of zinc oxide includes both elements, so it differs from the mass of zinc alone.

How to compare producers

Before comparing a league table, ask four questions: Which product? Which period? Which ownership basis? Actual production or installed capacity? Clear definitions make the role of miners, refiners and compound manufacturers easier to understand.