Korea Zinc is showing strong gains in early trading as it emerges as a beneficiary of the U.S. government's policy to strengthen the critical minerals supply chain.
As of 10:05 a.m. on the Korea Exchange, Korea Zinc's stock price has risen by 148,000 won (13.20%) to 1,252,000 won compared to the previous trading day.
This increase is attributed to President Donald Trump's announcement of a $3 billion mining project aimed at expanding domestic critical mineral production.
On August 7, President Trump revealed the plan during a meeting with mining executives at the State Department in Washington, D.C. At this meeting, U.S. Secretary of Commerce Gina Raimondo specifically mentioned Korea Zinc as a prime example of increased investment in critical minerals within the United States.
Korea Zinc is advancing its 'Project Crucible,' which involves the construction of a large non-ferrous metal smelter in Clarksville, Tennessee. This facility is expected to produce not only zinc, lead, and copper but also critical minerals such as antimony, germanium, and indium, which are essential for the defense and semiconductor industries.
Recently, Project Crucible was selected for the federal government's permitting support program known as 'FAST-41.' This program streamlines administrative processes for national infrastructure and resource development projects, aiming to reduce permitting times.
Korea Zinc anticipates that this designation will shorten the final permitting period by approximately 18 months.
* This article has been translated by AI.
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