US EditionKorea Zinc to build $7.4 billion smelter in US
- Korea Zinc announced on Monday a $7.4 billion plan to build a U.S. smelter, backed by the U.S. government, to produce antimony and germanium in the southeastern United States.
- The Young Poong-MBK alliance says directors appointed by Young Poong and MBK were excluded from prior briefings and noted an emergency board meeting amid governance concerns.
- Financing details show Korea Zinc plans a third-party allotment issuing $1.9 billion in shares to a U.S.-backed joint venture holding roughly 10%, plus $5.5 billion funded by loans and CHIPS and Science Act subsidies.
- Market reaction was immediate as Korea Zinc shares closed 4.87% higher on Kospi on Monday, while major shareholders demanded regulatory review and calls for investigation into Chairman Choi Yun-beom's alleged fund mismanagement.
- The project aligns with U.S. government policy on critical minerals to reduce reliance on China and realign supply chains, but critics warn it risks hollowing out Korea's Onsan plant and transferring expertise abroad.
22 Articles
22 Articles
MBK, YoungPoong seek court injunction to block Korea Zinc’s share sale plan
By Heejin Kim and Heekyong Yang SEOUL, Dec 16 (Reuters) – South Korean private equity firm MBK Partners and metal smelter YoungPoong Corp have filed for an injunction at a local court to block Korea Zinc’s share sale plan to fund the construction of a smelter in the U.S., MBK said in a statement on Tuesday. Korea Zinc said on Monday it would build a $7.4 billion critical minerals refinery in Tennessee that will be funded largely by Washington. …
Trump Admin Partners With Korea Zinc to Build $7.4 Billion Smelter in US
The Trump administration’s ongoing efforts to onshore the production of critical minerals took another step forward on Dec. 15 with the announcement that the world’s largest zinc smelter would be building a multibillion-dollar mineral smelting and processing facility in Tennessee. Korea Zinc Co.’s $7.4 billion zinc smelter will produce as much as 540,000 tons of essential minerals per year, Commerce Secretary Howard Lutnick said in a post on X. …
Why Shares of USA Rare Earth Are Tanking Today
Key PointsThe United States government is working to secure the domestic supply of critical metals.Korea Zinc Co. plans on developing a zinc smelter in the United States.USA Rare Earth should only remain a potential acquisition for investors with high risk tolerances.10 stocks we like better than USA Rare Earth › Starting the week on a bearish foot, both the Dow Jones Industrial Average and S&P 500 are down around 0.15% in afternoon trading. Sha…
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