Chair Choi Yoon-beom of Korea Zinc took the stage as a speaker at the World Economic Forum (WEF, Davos Forum) to propose solutions for building critical mineral supply chains. He said governments should focus on long-term demand forecasts and pursue "public-private partnerships."
On Jan. 21 (local time), according to Davos Forum participants, Chair Choi said, "To build a stable supply chain for critical minerals, we need to expand our mindset about public-private cooperation," and stated accordingly.
Choi serves on the Davos Forum's Mining and Metals Steering Committee and took the podium as an official speaker for the session on "strategic partnerships and investment in critical minerals." He delivered a presentation titled Building a Resilient Global Supply Chain for Critical Minerals.
He said, "Today, the global supply chain for critical minerals is under considerable strain," adding, "Over decades, production and refining capacity have become overly concentrated in certain regions, leaving governments, industry, and consumers all vulnerable."
He continued, "Many industries that will drive future human progress—such as artificial intelligence (AI), Quantum Computing, semiconductors, advanced defense technology, and clean energy infrastructure—are based on stable access to critical minerals."
Choi stressed that the public-private partnership model, which has so far remained focused only on "subsidies," must change. He said, "While upholding the principles of open and free-market economies, we need a shift in policy mechanisms that can earn market trust," emphasizing "long-term demand visibility of more than 10 years."
Choi said, "The critical minerals sector is fundamentally different from consumer-led industries," noting that it is capital-intensive, has long development timelines, and is based on continuous innovation to improve efficiency, sustainability, and performance.
He added, "If long-term demand visibility is put in place, the ripple effects will be groundbreaking," and said, "Corporations will gain the confidence to invest in advanced refining technologies, multi-feedstock facilities, and recycling capabilities, accelerating innovation and evolving the supply chain into a progressively more resilient, diversified, and collaborative ecosystem."
Choi also said in a Bloomberg interview that, by acquiring the Clarksville smelter with the U.S. government and building a new smelter, the company could create $3 billion in value from residual minerals. According to Bloomberg, Choi said, "A large volume of residual material, including major metals such as zinc, copper, lead, silver, and germanium, has already accumulated at the site," adding, "It is about 600,000 tons (t), and processing all of it will take six to seven years."
After wrapping up his Davos Forum schedule, Choi will head straight to Washington, D.C., to visit the Atlantic Council, a U.S. nonprofit research organization, and attend a critical minerals discussion.