All articles tagged with #korea zinc
Korea Zinc's shares dropped over 13% after its largest shareholder group opposed plans for a U.S.-backed joint venture to build a $7.4 billion mineral smelter in Tennessee, which would dilute their stake and potentially shift control, amid U.S. efforts to secure critical mineral supplies independent of China.
The U.S. Defense Department is acquiring a 10% stake in a $7.4 billion zinc smelter in Tennessee, built in partnership with Korea Zinc, as part of efforts to reduce dependence on China for critical minerals essential for technology and defense industries.
Korea Zinc plans to build a $7.4 billion smelter in the US, backed by the government and investors, to secure supplies of critical minerals essential for technology, defense, and aerospace, positioning itself as a strategic national-security supplier amid geopolitical tensions.
Korea Zinc will purchase Nyrstar's Clarksville zinc smelter and build a $6.6 billion, 6.99 million-square-foot integrated smelting facility, creating 420 new jobs and strengthening U.S.-South Korea economic ties, with phased operations starting in 2029.