Korea Zinc intends to build a key metals plant in the United States as part of a $7.4 billion project, the company said.
It emphasizes that the US government asked the company to build the plant due to expanding risks in global supply chains and growing demand for non-ferrous metals and strategic minerals in the country.
The plant is planned to produce key non-ferrous metals such as zinc, lead and copper, as well as precious metals and strategic minerals including antimony, germanium and gallium.
Commercial start-up is scheduled for 2027, Reuters reports.
Shares of Korea Zinc, the world's largest producer of refined zinc, rose 4.9% in after-hours trading on Monday. The company's market value has grown by more than 58% since the beginning of this year.
