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Financed by JPMorgan, Jointly Owned by US DoD Under the plan, the U.S. Department of Defense will hold a 40% stake in the JPM Financed smelter joint-venture. GFN – WASHINGTON: Korea Zinc plans a $7.4 billion investment to construct a large-scale non-ferrous metals smelter in Clarksville, Tennessee, a project U.S. officials say will materially expand domestic critical minerals processing capacity and strengthen supply chain security.1 The project, known as the “U.S. Smelter,” is expected to require approximately $6.6 billion in capital expenditures, with total investment reaching $7.4 billion including financing costs. It is being developed in coordination with the U.S....

Korea Zinc announced on Monday a $7.4 billion smelter project in Tennessee that will be backed by the U.S. government and which will lessen our reliance on China for critical minerals used in defense systems, electronics, and so much more that powers our modern world. Commerce Secretary Howard Lutnick took to X to laud the news: The tweet continues: Today, we announced a major investment with Korea Zinc to build a state-of-the-art critical minerals smelter and processing facility in Tennessee that will produce 540,000 tons per year of essential materials right here in America. He continued, listing a range of...