"How much is zinc going for these days?"
"Really? Okay. Put me down for a couple of tons."
Posted on 12/15/2025 1:42:43 PM PST by DFG
Korea Zinc on Monday announced a $7.4 billion smelter project that will be funded largely by the U.S. government as Washington pushes to cut its reliance on China for a range of critical minerals.
Under the plan, Korea Zinc will sell new shares worth $1.9 billion to a joint venture controlled by the U.S. government and unnamed U.S.-based strategic investors, who would then control around 10% of the South Korean firm.
The U.S. Department of Defense will hold a 40% stake in the venture, while Korea Zinc's stake will be less than 10%, the company said.
Korea Zinc will secure the remaining $5.5 billion for the plant through $4.7 billion in loans from the U.S. government and financial institutions as well as $210 million in subsidies from the U.S. Commerce Department under the CHIPS and Science Act.
The news sent shares in the world's largest zinc smelting company surging as much as 26% in Monday trading in South Korea, though they later pared gains to end up 4.9%.
Korea Zinc will kick-start the project by acquiring two mining complexes and the only U.S. zinc smelter, which has been operational since 1978, in Clarksville, Tennessee, from Trafigura's Nyrstar before constructing an integrated facility in the state, it said.
Nyrstar said the sale of its U.S. assets to Korea Zinc is expected to close in the first half of 2026.
Major Korea Zinc shareholders, who have been seeking to oust the refiner's chairman, lambasted the planned U.S. investment, saying it was aimed at cementing management's hold on the company.
FIRST NEW US ZINC SMELTER SINCE THE 1970S
The deal to build the first U.S.-based zinc smelter in decades comes as the Trump administration ramps up efforts to secure supply chains for critical minerals to reduce its reliance on China.
(Excerpt) Read more at msn.com ...
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Sounds like Trump’s mea culpa for the bad ICE raid on Hyundai staff this spring.
The zinc smelter they are talking about is in Tennessee. 2 of the top 5 zinc mines in the USA are in Tennessee. I learned something new today.
https://www.mining-technology.com/marketdata/five-largest-zinc-mines-the-us/?cf-view
A uniquely strange process.
Don't let any atmosphere (oxygen) in there!
I’ve forgotten much of my Barney Miller.
If not - why do we need to finance SK to build and staff a zinc factory in the USA?
The USA can finance and staff a 100% USA zinc factory - all by our selves.
A smelter is used for smelting many other metals, gold, silver, antimony, lead, etc,....now that the deal is done, it may go operational in a few years.
We used to have half a hundred or so. The greens freaked about the extreme toxicity, and they disappeared, now down to only a few....to little, to late.
CLARKSVILLE, TENNESSEE Jobs, jobs, jobs!
[To get to Clarksville, Take the Last Train]
Harris wrote a best-selling law enforcement book, “Blood On the Badge.”
There was a zinc works in Depue, Illinois. The zinc works went under,but the town’s water supply is permanently ruined. You can get a house there for under $100K, but you have to have bottled water supplied to you for pretty much everything.
Yeah, good luck getting a zinc mill / refinery built (or reopened) ANYWHERE in the USA.
Same with lead, which we really, Really need.
I don’t think they would be announcing a $Billions deal if permitting issues failure was expected.
Lawsuits, otoh, are a different matter lol
But we’re not. I’ve been following NIOCORP for 10-15 years looking to develop a rare earth mine in the southeast corner of Nebraska. There’s millions in infrastructure (electricity, roads etc.) and Tennessee may be facing similar challenges.
“A smelter is used for smelting many other metals, gold, silver, antimony, lead, etc,....”
A shelter is used for smelting raw ore.
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