Clarksville: Korea Zinc Co., the leading global refined zinc smelter, announced the commencement of an ambitious 11 trillion-won (US$7.4 billion) project to construct a critical metals refinery in Clarksville, Tennessee. The announcement was made on Thursday, following a ceremony in Clarksville attended by company leadership and U.S. officials.

According to Yonhap News Agency, the ceremony marking the official launch of "Project Crucible" took place on Wednesday, U.S. time. Notable attendees included Korea Zinc Chairman Choi Yun-beom, President Park Ki-won, who oversees the project, and Stuart McWhorter, the deputy governor of Tennessee. The project aims to break ground next year and begin production of 13 nonferrous metals by 2029.

Choi Yun-beom expressed the company's vision for Project Crucible, emphasizing the strategic importance of the facility. "Through Project Crucible, we have embarked on a journey to open a new future that transcends Korea Zinc's past 52 years and to safeguard national security in critical minerals for future generations," Choi stated. He highlighted Korea Zinc's commitment to utilizing its capabilities, experience, and advanced technology to establish the world's leading critical mineral processing facility in Clarksville.

Korea Zinc has completed the acquisition of a local zinc smelter and other related firms. The company plans to execute the project by expanding and renovating existing facilities, ensuring the development of a state-of-the-art refinery.