excalibur
Diamond Member
- Mar 19, 2015
- 28,372
- 57,349
- 2,290
So many positives coming from Trump, 47.
Truly, MAGA.
This is a trluy muscular Presidency, not the somnolent mess that was 46.
Truly, MAGA.
This is a trluy muscular Presidency, not the somnolent mess that was 46.
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 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.
...
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.
Korea Zinc also agreed earlier this year to help deep-sea mining firm The Metals Company process polymetallic nodules from the seafloor. TMC has asked Trump to issue it an international seabed mining permit.
The administration has expanded its critical minerals list to add copper, metallurgical coal, uranium, phosphate, potash, rhenium, silicon and silver.
Reuters was first to report earlier this month that the U.S. military would develop a fleet of small-scale refineries to produce critical minerals used to make bullets, armor and other types of weaponry.
In October, South Korea and the U.S. agreed to a trade deal, which included a cut in tariffs imposed by U.S. President Donald Trump earlier in the year and a pledge by South Korea to invest $350 billion in strategic American sectors.
The new integrated smelter would produce 540,000 tons per year of major non-ferrous metals, including 300,000 tons of zinc, 35,000 tons of copper, 200,000 tons of lead and 5,100 tons of rare earths annually, it said in a filing.
The Tennessee site would start commercial operations in phases starting in 2029.
...
Separately, a senior White House official told a critical minerals conference on Monday that Trump plans more "historic deals" with the U.S. mining sector.
...
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 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.
...
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.
Korea Zinc also agreed earlier this year to help deep-sea mining firm The Metals Company process polymetallic nodules from the seafloor. TMC has asked Trump to issue it an international seabed mining permit.
The administration has expanded its critical minerals list to add copper, metallurgical coal, uranium, phosphate, potash, rhenium, silicon and silver.
Reuters was first to report earlier this month that the U.S. military would develop a fleet of small-scale refineries to produce critical minerals used to make bullets, armor and other types of weaponry.
In October, South Korea and the U.S. agreed to a trade deal, which included a cut in tariffs imposed by U.S. President Donald Trump earlier in the year and a pledge by South Korea to invest $350 billion in strategic American sectors.
The new integrated smelter would produce 540,000 tons per year of major non-ferrous metals, including 300,000 tons of zinc, 35,000 tons of copper, 200,000 tons of lead and 5,100 tons of rare earths annually, it said in a filing.
The Tennessee site would start commercial operations in phases starting in 2029.
...
Separately, a senior White House official told a critical minerals conference on Monday that Trump plans more "historic deals" with the U.S. mining sector.
...
