Overview
- Korea Zinc finalized a roughly 10 trillion won plan to build a refinery in Clarksville, Tennessee, through a joint venture with the U.S. Departments of Defense and Commerce alongside private defense firms.
- The company approved a 2.85 trillion won third‑party share allotment to the joint venture as part of the financing structure.
- The project centers on taking over and rebuilding Nyrstar’s existing Clarksville site, with site work starting next year and phased commercial operations targeted from 2029.
- Published accounts differ on how much U.S. partners will invest and what equity they will hold, indicating key financing terms are not yet settled.
- Major shareholders Young Poong and MBK condemned the move as a management power play, while U.S. Commerce Secretary Howard Lutnick hailed the plan as a “big win” for America.