Korea Zinc, the global leader in zinc smelting, announced Thursday the official launch of its ambitious $7.4 billion initiative to establish a state-of-the-art mineral processing facility in Tennessee. This monumental undertaking underscores the company’s intensified strategy to bolster and diversify its critical mineral supply chain within the United States.
A formal groundbreaking ceremony for “Project Crucible” was held Wednesday in Clarksville, Tennessee. The event saw the attendance of key figures including Korea Zinc Chair Choi Yun-beom and senior executives, notably President Park Ki-won, who is spearheading the significant project. Prominent US officials present included Stuart McWhorter, Deputy Governor of Tennessee, and Erin Hutchens, Regional Director for the Tennessee Department of Economic and Community Development, highlighting the project’s regional and national importance.
The extensive plans involve constructing a sprawling smelter complex in Clarksville, covering an impressive 650,000 square meters. Construction is projected to commence in 2027, with full commercial operations anticipated to be online by 2029. Upon completion, this advanced facility is set to produce 13 distinct nonferrous metals, crucially including 11 minerals designated as critical by the US government, alongside high-purity semiconductor-grade sulfuric acid, vital for various industrial applications.
This substantial $7.4 billion investment by Korea Zinc is significantly supported by the US government and other strategic financial partners, including prominent firm JPMorgan.
“Through Project Crucible, we are embarking on a transformative journey that extends beyond Korea Zinc’s 52-year legacy, aiming to secure national security in critical minerals for generations to come,” stated Chair Choi Yun-beom at the ceremony.
He further added, “We are committed to deploying all our expertise, extensive experience, and cutting-edge technology right here in Clarksville to forge the world’s foremost critical mineral processing facility.”
Recently, Korea Zinc successfully finalized the acquisition of the existing Nyrstar-owned smelter site and associated operations within the region. The company confirms its strategy to execute “Project Crucible” by strategically expanding and modernizing these acquired facilities, while simultaneously developing an entirely new smelter on adjacent land, creating a comprehensive and integrated industrial hub.
Korea Zinc further emphasized its commitment to the local economy by retaining the existing skilled workforce from the Nyrstar smelter and its affiliated mining operations, ensuring continuity and leveraging invaluable local expertise.
Moreover, demonstrating a strong focus on sustainability and resource efficiency, Korea Zinc intends to process approximately 620,000 metric tons of smelting byproducts currently amassed across five tailings ponds at the Clarksville site. This initiative aims to recover crucial critical minerals such as germanium, gallium, and indium. The project will also strategically source its raw materials from two mines already owned by the smelter operations, further integrating its supply chain.
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