Defense & Industry — 2026-04-02

Korea Zinc Launches $7.4 Billion Tennessee Critical Minerals Smelter with Pentagon Backing

Korea Zinc held a ceremony in Clarksville, Tennessee, marking the formal start of 'Project Crucible,' a $7.4 billion smelter complex spanning 650,000 square meters that will produce 13 nonferrous metals including 11 designated as critical by the US government. The Pentagon holds a 40% stake in the joint venture, with JPMorgan providing additional financial backing. Construction begins in 2027 with full commercial operations expected by 2029. Korea Zinc plans to recover critical minerals including germanium, gallium, and indium from 620,000 metric tons of existing tailings.

Analysis
Project Crucible's 13 nonferrous metals at a single US site directly addresses the Pentagon's identified critical minerals gaps. The $7.4 billion scale dwarfs previous reshoring efforts and signals industrial policy shifting from incentives to direct capacity-building.

2 sources

Korea Zinc launches $7.4b Tennessee smelter project - Korea Herald
JPMorgan, US backing Korea Zinc $7.4 billion Tennessee smelter - Mining.com