Korea Zinc plans $7.4bn US minerals refinery with Washington’s backing

Al JazeeraCenterEN 4 min read 100% complete by By ReutersDecember 15, 2025 at 09:34 PM

AI Summary

medium article 4 min

Korea Zinc, the world's largest zinc smelter, announced a $7.4 billion project in the US to build a minerals refinery with significant backing from the US government. Announced on December 15, 2025, the project aims to reduce US reliance on China for critical minerals. Korea Zinc will sell new shares to a US government-controlled joint venture, securing funding through loans, subsidies, and its own investment. The project will begin with the acquisition of two mining complexes and the only US zinc smelter in Tennessee from Trafigura's Nyrstar, with the sale expected to close in the first half of 2026. This initiative marks the first new US zinc smelter in decades, supported by the Trump administration's efforts to secure critical mineral supply chains.

Key Entities & Roles

Key Player Opposition Context

Donald Trump 60% United States ×570% Korea Zinc ×680%

Keywords

korea zinc 100% zinc smelter 90% critical minerals 80% us reliance on china 80% supply chains 70% us government 70% investment 60% chips and science act 50% mining complexes 50%