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Korea Zinc to build U.S. smelter with government backing to cut China reliance on key minerals.
Korea Zinc’s board is set to discuss a $6.8 billion plan to build a U.S. smelter in a joint venture with the U.S. government and American companies, aiming to reduce reliance on China for critical minerals like antimony and germanium.
The project, which could involve a 10% to 20% U.S. government stake and significant debt financing, follows a 2024 Chinese export ban on key materials.
The proposal has drawn criticism from major shareholders who question its strategic and governance implications.
The smelter would support U.S. efforts to secure supply chains for semiconductors, defense, and clean energy technologies.
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Corea Zinc para construir una fundición en EE.UU. con el apoyo del gobierno para reducir la dependencia de China de minerales clave.