In a bid to lower its reliance on China for critical minerals, Korea Zinc, the world’s largest zinc smelting company, has unveiled a $7.4 billion smelter project, backed by the U.S. government.
US-Backed Korea Zinc Smelter Plan
Korea Zinc announced the project on Monday and stated that the U.S. government will support the initiative, which aims to reduce Washington’s dependence on China for essential minerals, including rare earths, Reuters reported.
Korea Zinc shares closed 4.87% higher at KRW 15,92,000 ($1086.01) on Kospi on Monday. However, the plan has drawn criticism from major shareholders who are pushing to remove the company’s chairman.
As part of the project, the Korean smelter plans to issue $1.9 billion in new shares to a joint venture controlled by the U.S. government, along with undisclosed U.S.-based strategic …Full story available on Benzinga.com
Nvidia Becomes a Major Model Maker With Nemotron 3
...
Read moreDetails
