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Korea Zinc’s board is set to convene on Monday to vote on a major overseas investment plan that could significantly strengthen the supply chain for critical minerals in the United States. According to a source familiar with the matter, the South Korean metals producer is considering a proposal to build a new smelter in the U.S. through a joint venture involving the U.S. government and several American companies. The total investment for the project is expected to reach 10 trillion won, equivalent to approximately $6.78 billion.
The planned smelter would focus on refining key strategic minerals, a move that aligns with growing efforts by the United States and its allies to reduce reliance on single-country supply sources for critical materials. South Korea’s Yonhap News Agency reported that the U.S. government and participating U.S. companies would collectively hold a 20% stake in the joint venture, contributing around 2 trillion won in investment capital.
According to the same report, the facilities are expected to produce antimony and germanium, both of which are considered essential minerals for advanced manufacturing, defense applications, and high-tech industries such as semiconductors and renewable energy. Antimony is widely used in flame retardants and alloys, while germanium plays a crucial role in fiber optics, infrared technology, and electronics.
The proposed project underscores Korea Zinc’s strategy to expand its global footprint while responding to shifting geopolitical and economic priorities around critical mineral security. For the United States, the partnership could represent a significant step toward boosting domestic processing capacity for minerals that are vital to national security and industrial competitiveness.
A spokesperson for Korea Zinc was not immediately available for comment, and the company has not yet publicly confirmed details of the board’s agenda. However, if approved, the investment would rank among the largest South Korean industrial projects in the United States and further deepen economic cooperation between the two countries.
The outcome of Monday’s board meeting will be closely watched by investors and policymakers alike, as it could signal a major acceleration in cross-border collaboration on critical minerals and clean technology supply chains.
