Seoul: Korea Zinc Co. and the U.S. government are planning a joint investment of approximately 10 trillion won (US$6.8 billion) to construct a critical metals refinery in the southeastern region of the United States. The initiative aims to strengthen the supply and production of essential metals, such as antimony and germanium, in response to global supply chain challenges.

According to Yonhap News Agency, the partnership will be discussed at Korea Zinc's board of directors meeting, where details of the joint venture (JV) will be finalized. The U.S. government, along with its defense firms, is expected to contribute around 2 trillion won to this venture. After evaluating 60 potential sites, the partners have tentatively selected a major city in the southeastern U.S. for the refinery's location.

The project is part of a broader U.S. strategy to counteract Chinese export restrictions on rare earths and critical metals. This development follows Korea Zinc Chairman Choi Yoon-beom's announcement in August, where he unveiled plans for a strategic metals partnership with the U.S. The announcement was made during his visit to the U.S., shortly after President Lee Jae Myung's first summit with U.S. President Donald Trump.

In conjunction with these efforts, Korea Zinc previously signed a memorandum of understanding with U.S. defense giant Lockheed Martin Inc. This agreement involves an investment of about 140 billion won to establish a germanium-producing facility in South Korea.